ECONOMICS
OPPORTUNITY COST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The government has $5 billion dollars. The government has an ordered preference of their spending needs;1. 60 new schools ($4 Billion)2. 8 new hospitals ($2.5 billion)3. A new train network for Adelaide ($2.5 billion)What is likely to be their opportunity cost?
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8 new hospitals
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8 new hospitals and a new train network for Adelaide
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60 new schools and a new train network for Adelaide
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A new train network for Adelaide
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Explanation:
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