Internal Code:MAS155 Report Writing Assignment: Question: Assignment 1 consists of one problem question based on Text material. Text material which may be relevant to this question may be drawn primarily from any of Text chapters 1, 2 and 3 Answer the following: You have been employed as an Economist to advise the Department of Health and the Federal government about the following issue. What would be the effect of increasing the number of medical operations of those people suffering from cancer related to tobacco smoking? Economics is often referred to as “the science of scarcity”. (Hint. Assume the federal health budget is fixed). The question addresses the following learning outcomes: 1. be able to apply demand and supply analysis to make a range of market related decisions 2. to be able to identify and critically evaluate opportunities for specialization and exchange 3. to be able to make decisions that incorporate the relevant benefits and cost analysis     11 total views, 2 views today