Suppose the U.S. president is attempting to decide whether the federal government should spend more on research

Question:

Suppose the U.S. president is attempting to decide whether the federal government should spend more on research to find a cure for heart disease. Imagine that you are the president's economic advisor and need to prepare a report discussing the relevant factors the president should consider. Use the concepts of and tradeoffs to discuss some of the main issues you would deal with in your report?
Opportunity Cost
Opportunity cost is the profit lost when one alternative is selected over another. The Opportunity Cost refers to the expected returns from the second best alternative use of resources that are foregone due to the scarcity of resources such as land,...