Suppose the first bill is passed, raising the probability of catching any given terrorist from 10% to 25%. However, this isn't enough for some lawmakers. One representative introduces a bill that would increase security by an additional 5 percentage points. Again, assume these measures do not change the position of the blue curve. The opportunity cost of this additional measure is additional visitors per year. Refer back to your previous answers. The opportunity cost of increasing the probability of catching a terrorist from 25% to 30% is the opportunity cost of increasing that probability from 10% to 25%. million
Suppose the first bill is passed, raising the probability of catching any given terrorist from 10% to 25%. However, this isn't enough for some lawmakers. One representative introduces a bill that would increase security by an additional 5 percentage points. Again, assume these measures do not change the position of the blue curve. The opportunity cost of this additional measure is additional visitors per year. Refer back to your previous answers. The opportunity cost of increasing the probability of catching a terrorist from 25% to 30% is the opportunity cost of increasing that probability from 10% to 25%. million
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
![Suppose the first bill is passed, raising the probability of catching any given terrorist from 10% to 25%. However, this isn't enough for
some lawmakers. One representative introduces a bill that would increase security by an additional 5 percentage points.
Again, assume these measures do not change the position of the blue curve. The opportunity cost of this additional measure is
additional visitors per year.
Refer back to your previous answers. The opportunity cost of increasing the probability of catching a terrorist from 25% to 30% is
the opportunity cost of increasing that probability from 10% to 25%.
million](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Faa3bff2c-2743-4a14-b17f-30b2784a9b02%2F2767803d-995a-4c3c-8f3c-fef4fe71941e%2Fudovdm_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose the first bill is passed, raising the probability of catching any given terrorist from 10% to 25%. However, this isn't enough for
some lawmakers. One representative introduces a bill that would increase security by an additional 5 percentage points.
Again, assume these measures do not change the position of the blue curve. The opportunity cost of this additional measure is
additional visitors per year.
Refer back to your previous answers. The opportunity cost of increasing the probability of catching a terrorist from 25% to 30% is
the opportunity cost of increasing that probability from 10% to 25%.
million
![Assuming the security bill does not change the position of the blue curve, place the gray point (star symbol) on the graph to show the effects of such a
bill. (Hint: Be sure to plot your point on one of the black plus symbols.)
SECURITY (Percent of terrorists caught)
50
9
30
0
0
+
X
20
+
40
60
80
TOURISM (Millions of visitors per year)
100
(?)
Again, suppose the first bill that is introduced mandates that security be improved so that the probability of catching a terrorist at the border increases
from 10% to 25%, and these measures do not change the position of the blue curve. The opportunity cost of this increase in security is
million visitors per year.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Faa3bff2c-2743-4a14-b17f-30b2784a9b02%2F2767803d-995a-4c3c-8f3c-fef4fe71941e%2Fayr4em_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Assuming the security bill does not change the position of the blue curve, place the gray point (star symbol) on the graph to show the effects of such a
bill. (Hint: Be sure to plot your point on one of the black plus symbols.)
SECURITY (Percent of terrorists caught)
50
9
30
0
0
+
X
20
+
40
60
80
TOURISM (Millions of visitors per year)
100
(?)
Again, suppose the first bill that is introduced mandates that security be improved so that the probability of catching a terrorist at the border increases
from 10% to 25%, and these measures do not change the position of the blue curve. The opportunity cost of this increase in security is
million visitors per year.
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