Malnutrition can cause a variety of health problems, including being underweight, due to unbalanced or insufficient diet. It is estimated that in 2015, approximately 14% of preschool-age children globally will be underweight (WHO and UNICEF Joint Global Nutrition Database, 2011) . While this is a high percentage, it is a drop from approximately 25% just 25 years earlier.
Consider the following data table and answer the questions that follow.
-Africa and the Latin America and Caribbean regions show a similar overall drop in estimated prevalence (%) of underweight preschool children from 1990 to 2015: 5.9% and 4.8%, respectively. In the year 2011, the population of Africa was close to 1 billion, while the population of the Latin America and Caribbean regions was closer to 500 million. Based on this population data, which of these two regions' drop in percentage is more dramatic, and why?
Definitions:
Deadweight Loss
A decrease in economic efficiency occurring when a good or service does not reach its free market equilibrium.
Economic Profits
The difference between total revenue and total economic costs (including both explicit and implicit costs), representing the additional income above the opportunity cost.
Monopoly
A market structure characterized by a single seller who has exclusive control over the supply of a good or service, and where the entry of new firms is hindered.
Monopolist's Profit
The excess revenue a monopolist earns over its costs, attributable to its ability to set prices above competitive levels due to lack of competition.
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