Economics

of Protecting IthacaNumber of law of nature Officers to Hire hearty put on peripheral welfare last(a) brotherly Benefit / acquittance (-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 hearty Benefit 32 ,0003 . 3 natural law Officersa . MC 50 ,000b . MB 71 ,000c . Net brotherly Benefit 21 ,0004 . 4 constabulary Officersa . MC 50 ,000b . MB 60 ,000c . Net Social Benefit 10 ,0 005 . 5 Police 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 fringy benefit would decrease with the hiring of each(prenominal) additional jurisprudence officer . How would you respondIthaca is a well-discip contrastd , small urban center , as compared to the larger cities where offence is a regular skylark , e .g . NY and LA . nevertheless the incident of one crime in Ithaca is a unsound deal , usually turn into hue and cry .

The unremitting decrease in enlighten social benefit as a result of an ontogeny in the fall of natural law officers shows that the city does not consider a large bod of officers to be added to its patrol effect . In economics this phenomenon is referred to as the law of diminishing returns , which whitethorn also be easily observed in the cuticle of farmers on a plat of land (Samuelson Nordhaus , 199810 . Citizens that advocate the hiring of 8 additional police officers disunite 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 fire social benefit decreases with increasing add up o f police officers . Ithaca seeks to maximize its net social benefits which take into written composition 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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