63 822
Assignments Done
99,4%
Successfully Done
In August 2018

Answer to Question #15746 in Economics of Enterprise for ankita

Question #15746
If a new home can be constructed for $150,000, what is the opportunity cost of federal defense spending, measured in terms of private housing? (Assume a defense budget of $600 billion.)
Expert's answer
Opportunity cost of federal defense spending is a number of houses which can be built using $600 billion. It's calculated, obviously, as follows
600000000000/150000=4000000




So opportunity cost is 4 millions houses.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be first!

Leave a comment

Ask Your question

Submit
Privacy policy Terms and Conditions