What do the employees of the state and local government, Ask an Expert

Economics

What do the employees of the state and local government produce? What is the opportunity cost of that output?

In many cities, the government provides such items as public schools, police protection, fire protection, parks, and golf courses.

The opportunity cost is the next best alternative use of these resources. For example, the public golf course could be turned into a pasture for cattle, a racetrack, or a housing development.

What is a possible opportunity cost for building a public golf course?

Elaborate and Explain min 250 words

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M92197997

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