How closely do government expenditures measure opportunity cost for each of the following program inputs? a. Time
Question:
a. Time of jurors in a criminal justice program that requires more trials.
b. Land to be used for a nuclear waste storage facility, which is owned by the government and located on a military base.
c. Labor for a reforestation program in a small rural community with high unemployment.
d. Labor of current government employees who are required to administer a new program.
e. Concrete that was previously poured as part of a bridge foundation.
Opportunity Cost
Opportunity cost is the profit lost when one alternative is selected over another. The Opportunity Cost refers to the expected returns from the second best alternative use of resources that are foregone due to the scarcity of resources such as land,...
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Related Book For
Cost Benefit Analysis Concepts and Practice
ISBN: 978-0137002696
4th edition
Authors: Anthony Boardman, David Greenberg, Aidan Vining, David Weimer
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