Economics

of Protecting IthacaNumber of law of nature Officers to Hire hearty clear peripheral proceeds lettuce brotherly Benefit / prejudice (-0 0 - 0 --1 50 ,000 50 ,000 93 ,000 93 ,000 43 ,0002 100 ,000 50 ,000 175 ,000 82 ,000 32 ,0003 cl ,000 50 ,000 246 ,000 71 ,000 21 ,0004 200 ,000 50 ,000 306 ,000 60 ,000 10 ,0005 250 ,000 50 ,000 355 ,000 49 ,000 -1 ,0006 300 ,000 50 ,000 393 ,000 38 ,000 -12 ,0007 350 ,000 50 ,000 420 ,000 27 ,000 -23 ,0008 400 ,000 50 ,000 436 ,000 16 ,000 -34 ,000 1 . 1 natural law Officera . MC 50 ,000b . MB 93 ,000c . Net friendly Benefit 43 ,0002 . 2 law of nature Officersa . MC 50 ,000b . MB 82 ,000c . Net amicable Benefit 32 ,0003 . 3 guard Officersa . MC 50 ,000b . MB 71 ,000c . Net societal Benefit 21 ,0004 . 4 guard Officersa . MC 50 ,000b . MB 60 ,000c . Net Social Benefit 10 ,0005 . 5 Polic e Officersa . MC 50 ,000b . MB 49 ,000c . Net Social Benefit -1 ,0006 . 6 Police Officersa . MC 50 ,000b . MB 38 ,000c . Net Social Benefit -12 ,0007 . 7 Police Officersa . MC 50 ,000b . MB 27 ,000c . Net Social Benefit -23 ,0008 . 8 Police Officersa . MC 50 ,000b . MB 16 ,000c . Net Social Benefit -34 ,0009 . After you piece the results of your research at a meeting of the Ithaca Common Council , an alderman asks you to pardon why the social border kris benefit would decrease with the hiring of each(prenominal) additional constabulary officer . How would you respondIthaca is a well-disciplined , small urban center , as compared to the larger cities where criminal offense is a regular skylark , e .g . NY and LA . up to now the incident of one crime in Ithaca is a bombastic deal , usually turn into hue and cry .

The continual decrease in enlighten social benefit as a result of an ontogeny in the deem of constabulary officers shows that the city does not consider a large proceeds of officers to be added to its police effect . In economics this phenomenon is referred to as the law of diminishing returns , which whitethorn also be good observed in the cuticle of farmers on a fleck of land (Samuelson Nordhaus , 199810 . Citizens that advocate the hiring of 8 additional police officers narrate the Ithaca Common Council that your results support their military capability because the hiring of the maximum number of police officers would also maximize the with them ? WhyHiring of eight additional police officers would be a costly wrongdoing seeing that the lucre social benefit decreases with increasing add up of p olice officers . Ithaca seeks to maximize its net social benefits which take into written circulate the costs of hiring additional police officers In other actors line , we are interested in the benefits of...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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