Opportunity cost.

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Read the Washington Post articles “Cost of the Iraq War I” and “Cost of the Iraq War II” (ARTICLES ARE IN ATTACHED FILES.) First, use the definiton of opportunity cost. (LISTED BELOW) Then, use the information in the
articles and to answer the following question: what is
the opportunity cost of the war in Iraq? NOTE: Not a numerical answer.
PRINCIPLE #2: The true cost of something is its
opportunity cost.
Opportunity cost: what you must give up in
order to get something.
IMPORTANT: When economists use the word
“cost”, they always mean “opportunity
cost”, which is the sum of explicit costs
and implicit costs.