Which of the following options is the the correct answer? Question: The opportunity cost of an increasein the local police force is:(a) the government goods or services thatpeople will give up in order for the governmentto hire additional police(b) the cost of the additional police(c) the cost of training new recruits(d) the amount by which taxes may beincreased to pay for the additional police

Opportunity cost is the loss of benefit that could have been derived by choosing the not chosen…

Answered: opportunity cost

Business

Economics

opportunity cost

Principles of Economics, 7th Edition (MindTap Course List)

7th Edition

ISBN:9781285165875

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter22: Frontiers Of Microeconomics

Section: Chapter Questions

Problem 4PA

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