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Read the passage:

"In 2009, Governor O'Malley proposed that several billion dollars be made available to create a new juvenile detention center in Maryland. With that money, he could have employed every high school student in Baltimore City for a year."

1. Describe the opportunity cost of the purchase.
2. Do the benefits of O'Malley's proposal outweigh the costs? Explain.



Answer :

GinnyAnswer

Final answer:

Opportunity cost and cost-benefit analysis of a proposed juvenile detention center in Maryland.


Explanation:

Opportunity cost refers to the potential benefits that are forgone when a decision is made. In the context of Governor O'Malley's proposal, the opportunity cost of creating a new juvenile detention center would be the employment opportunities lost for high school students in Baltimore City if the funds were allocated elsewhere.

In determining whether the benefits of O'Malley's proposal outweigh the costs, one must consider various factors such as the long-term impact on the community, the effectiveness of the detention center in reducing juvenile crime rates, and the potential alternatives for investing the funds to address root causes of crime.


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