Q1: (Chp 5) Explain in what way is health care considered an investment? And in what way is it considered pure consumption? (4 points)

Q2: (Chp 5) A procedure with an elastic demand would be considered optional or elective, and a procedure with an inelastic demand would be considered medically necessary. Should policymakers use price elasticity of demand as a guide to define services that are medically necessary? What are the pros and cons of such a classification scheme