ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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NEWS WIRE
PUBLIC GOODS
Israel's "Iron Dome" Works!
Israel's Iron Dome is an air defense system designed to intercept and destroy incoming
missiles and mortars fired across the border by Hamas and other Palestinian factions. It
works. Israel's Defense Minister claims the Iron Dome has been 90 percent effective in
shielding population centers in the latest barrage of artillery fired into Israel by Hamas.
Source: News reports of July 20-28, 2014
Suppose the annual cost of the Iron Dome is $50 million. What is the opportunity
cost of this defense spending in terms of private housing, assuming a new home
can be constructed for
houses per
a. $100,000?
year
houses per
b. $150,000?
year
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Transcribed Image Text:NEWS WIRE PUBLIC GOODS Israel's "Iron Dome" Works! Israel's Iron Dome is an air defense system designed to intercept and destroy incoming missiles and mortars fired across the border by Hamas and other Palestinian factions. It works. Israel's Defense Minister claims the Iron Dome has been 90 percent effective in shielding population centers in the latest barrage of artillery fired into Israel by Hamas. Source: News reports of July 20-28, 2014 Suppose the annual cost of the Iron Dome is $50 million. What is the opportunity cost of this defense spending in terms of private housing, assuming a new home can be constructed for houses per a. $100,000? year houses per b. $150,000? year
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