Cost of Sochi Winter Olympics The Russian government spent $6.7 billion on Olympic facilities and $16.7 billion upgrading Sochi area infrastructure. Sponsors spent $27.6 billion on hotels and...

Cost of Sochi Winter Olympics

The Russian government spent $6.7 billion on

Olympic facilities and $16.7 billion upgrading

Sochi area infrastructure. Sponsors spent $27.6

billion on hotels and facilities hoping to turn

Sochi into a year-round tourist magnet.

Source: The Washington Post , February 11, 2014

Was the opportunity cost of the Sochi Olympics

$6.7, $23.4, or $51 billion? Explain your answer.

Economics as Social Science and Policy Tool

(Study Plan 1.4)