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What are the two inputs of utility in the Grossman model? For each of the items you list above, specify the individual variables which are
What are the two inputs of utility in the Grossman model? For each of the items you list above, specify the individual variables which are included in the input (i.e., the inputs of the inputs). In the question above, you should have a total of ve variables listed. For each item below, state which of the ve categories the item falls into: a.) 1 hour spent running b.) A treadmill c.) An opera ticket d.) 2 hours spent at an NBA game e.) Herbal tea f.) Running a fever yesterday g.) Thermometer In the Grossman model, there are two things that prevent people from producing innite utility. What are these two things? For each of the things you listed above, write the associated equation which represents the constraint. What is \"productive time\
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