Question

Suppose the president is attempting to decide whether the federal government should spend more on research to find a cure for heart disease. What is the opportunity cost of spending more money to find a cure for heart​ disease? A. The monetary value of a human life. B. The total explicit cost of the research to cure heart disease. C. The reduction in funding for research to cure other diseases. D. The cost of the​ Medicare/Medicaid program. E. The reduction in future​ health-related costs of heart disease. How should policymakers determine the amount of money that should be allocated for research curing heart​ disease? They should base their decision on A. the number of people who have heart disease compared to the number of people who have other diseases. B. the value of the total benefit of research on curing other diseases. C. the value of the total benefit of the research on heart disease. D. the number of people who die from heart disease compared to the number of people who die from other diseases. E. whether the last dollar devoted to research on heart disease results in more benefit than the last dollar spent on research for curing other diseases.

Answer 1

Answer:

C. The reduction in funding for research to cure other diseases. 

E. whether the last dollar devoted to research on heart disease results in more benefit than the last dollar spent on research for curing other diseases.

Explanation:

Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.

In this question, the opportunity cost is the The reduction in funding for research to cure other diseases. 

Rational decision makers should only choose an option when the marginal benefits exceeds the marginal cost .

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