-Broomfield City Council is deciding how many police officers the city needs. Broomfield's population is 10,000 people. The marginal cost of a police officer is $60,000 per year. The marginal benefit schedule of an average city resident from police protection is shown in the table above. Police protection is a public good. The marginal benefit for all of Broomfield from hiring the 4th police officer is

Question

Quizplus · Accepted Answer

The marginal benefit for all of Broomfield from hiring the 4th police officer is calculated by multiplying the marginal benefit per resident by the total population. Since police protection is a public good, the benefit to one is the benefit to all, so if the marginal benefit per resident for the 4th officer is $5.60, then for all 10,000 residents it would be $5.60 * 10,000 = $56,000.

-Broomfield City Council Is Deciding How Many Police Officers the City