Answer the questions provided in the text image below

Using the Grossman model as your framework, explain whether changes in business cycles are likely to have stronger or weaker effects on health for retirees relative to the prime working-age population (age 25-54) (5 points).Your friend Joe recently won a lot of money in the lottery. Joe moved from his parent's small house in the suburbs to a new $2 million condo in New York City with some of his winnings (he won a lot), but you've also noticed some changes in his lifestyle. Joe has started to eat a lot of take-out, drink at his favorite bar every day, and seems to be picking up a cocaine habit. Explain this change in Joe's behavior using the Grossman model. Is Joe's health a normal or inferior good? Can you think of anything not included in the Grossman model that might also explain some changes in his behavior?Many cities have implemented taxes, paid by sellers, on sugar-sweetened beverages (SSBs) as a way to reduce calorie consumption from unhealthy beverages linked to obesity. Assume Providence implements such a tax, but surrounding cities and towns and the rest of the state does not. First, explain how these SSB taxes would affect the equilibrium price and sales of SSBs within Providence. Second, explain whether the Providence's SSB tax would have meaningful effects on overall SSB consumption by Providence residents and their weight. (10 points)