1. The president of Belgium prefers to increase airports security more than decr

Question

1. The president of Belgium prefers to increase airports security more than decreasing air pollution within its borders. He also prefers decreasing air pollution more than reducing the wealth disparity. He would like to cater to all 3 issues but it's not possible. The opportunity cost of choosing to increase airport security within Belgium is,

a. Missing out on reducing the wealth gap and decreasing air pollution

b. Missing out on reducing the wealth gap as that's the next best altemative.

c. Missing out on decreasing the air pollution as that's the next best altemative.

d. There is no opportunity cost.

Explanation / Answer

"C"

Missing out on decreasing the air pollution as that's the next best alternative. Opportunity cost works with the next alternative action we would have taken if not the present one. Here, the president has to choose between airport security and decreasing air pollution which is the next alternative.

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