A foreign government subsidizes its national airline to keep airfares down. Which one is the opportunity...
A foreign government subsidizes its national airline to keep airfares down. Which one is the opportunity cost?
a. The improved maintenance of the airline's fleet
b. The better food served on board due to the government subsidy
c. The lower cost of the tickets for the passengers
d. All of the above
e. None of the above
Homework Answers
Correct Answer:
E
No any given alternative is correct.
Opportunity cost means the second best opportunity foregone when funds by the government is used to lower the airfares. The opportunity cost of the given case, could be to use the finds for schooling and education, or develop hospitals.
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