A council spends £2 million on a new library instead of a swimming pool. What is the opportunity cost?

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Question

A council spends £2 million on a new library instead of a swimming pool. What is the opportunity cost?

Accepted Answer

The swimming pool that could have been built — Award 1 mark. Opportunity cost is the next best alternative forgone, which is the swimming pool, not the money itself.

Answer

The swimming pool that could have been built

Answer

The wages of the library's staff

Answer

The books bought for the new library

Answer

The £2 million spent on the new library

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