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Below is a chart of Facebook users Sues 23 195 In Assignment 1, and in class we talked about how companies and government put a value on a statistical life. There is mounting evidence that social media (Facebook, Instagram, etc.) is not good for one's mental and emotional health. (E-8. A systematic review the influence of social media on depressio, anciety and psychological distress in adolescents. Betul Keles, Niall McCrae & Annmarie Grealish; Pages 79-93, 21 Mar 2019). Orealish, Page 1 3 mar 20 You are lead decision maker for the Country of you and A Bunch of Others (COYABOJ. While your colleagues are debating the role of government in your society, you are assigned to decide whether social media should be restricted and at what cost. You use the value of a statistic life at $10M per hypothetical individual. You are told to base your study on the following: 1. If we use the chart of Facebook users over time as a proxy for all social media use in COYABO, and 2. If we assume that for every user, 22% of them overuse or are otherwise badly influenced by their use, such that each one of them has a cost of $24,800 per year (counseling, emotional stress, etc.), and 3. If we assume that for every user, those with severe anciety and depression issues have their tendencies worsened by social media such that if they didn't use social media then suicide attempts would be reduced by 4% of users (valued at the $10M as above), then 4. If we were to limit the use of social media for our citizens at a cost of $2.6T (yes, trilion, in PW), is that intrusion on citizen choices and government oversight worth it from a purely public sector economics point of view? Considering that 2 and 3 would benefits of reducing harm, however 5. The loss of some utility (information sharing, pleasure (cat videos, and connection to lost friends (social, equates to a Disbenefit of $10500 per year per every user due to the reduction of social media use, and 6. Equates to a loss of tax revenue from all the ads and other tax on social media of $285M (present worth disbenefit). and 7. Limiting social media costs 50 tech jobs every year at an average of $100K per job 8. Start as though the graph is the current year and it projects forward 23 yrs so even though the graph shows quarterly Facebook growth for our purposes it is per year for COYABO social media at largel. (The graph starts at 14M users [year 1) and increases at a rate of 113M users per year every year for 22 years, from year 1 to 23). 9. COYABO uses a 10% rate to evaluate things. Q1: Do you advise the gov implement the program to limit social media use? Based on a B/Cof what? [15 points Below is a chart of Facebook users Sues 23 195 In Assignment 1, and in class we talked about how companies and government put a value on a statistical life. There is mounting evidence that social media (Facebook, Instagram, etc.) is not good for one's mental and emotional health. (E-8. A systematic review the influence of social media on depressio, anciety and psychological distress in adolescents. Betul Keles, Niall McCrae & Annmarie Grealish; Pages 79-93, 21 Mar 2019). Orealish, Page 1 3 mar 20 You are lead decision maker for the Country of you and A Bunch of Others (COYABOJ. While your colleagues are debating the role of government in your society, you are assigned to decide whether social media should be restricted and at what cost. You use the value of a statistic life at $10M per hypothetical individual. You are told to base your study on the following: 1. If we use the chart of Facebook users over time as a proxy for all social media use in COYABO, and 2. If we assume that for every user, 22% of them overuse or are otherwise badly influenced by their use, such that each one of them has a cost of $24,800 per year (counseling, emotional stress, etc.), and 3. If we assume that for every user, those with severe anciety and depression issues have their tendencies worsened by social media such that if they didn't use social media then suicide attempts would be reduced by 4% of users (valued at the $10M as above), then 4. If we were to limit the use of social media for our citizens at a cost of $2.6T (yes, trilion, in PW), is that intrusion on citizen choices and government oversight worth it from a purely public sector economics point of view? Considering that 2 and 3 would benefits of reducing harm, however 5. The loss of some utility (information sharing, pleasure (cat videos, and connection to lost friends (social, equates to a Disbenefit of $10500 per year per every user due to the reduction of social media use, and 6. Equates to a loss of tax revenue from all the ads and other tax on social media of $285M (present worth disbenefit). and 7. Limiting social media costs 50 tech jobs every year at an average of $100K per job 8. Start as though the graph is the current year and it projects forward 23 yrs so even though the graph shows quarterly Facebook growth for our purposes it is per year for COYABO social media at largel. (The graph starts at 14M users [year 1) and increases at a rate of 113M users per year every year for 22 years, from year 1 to 23). 9. COYABO uses a 10% rate to evaluate things. Q1: Do you advise the gov implement the program to limit social media use? Based on a B/Cof what? [15 points

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