The table below shows the marginal benefit per year (in dollars)and the marginal cost per year (in dollars)of hiring additional police officers in a small community.
(A)Is the service provided by the police a public good?
(B)Plot the marginal benefit and the marginal cost on a graph,with the number of police officers on the horizontal axis.In this graph,show the optimal number of police officers.
(C)Given the definition of the market demand curve,is the marginal benefit schedule the same as the town's demand curve for police?
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q166: The tendency of politicians and/or political parties
Q179: The tendency of the major parties in
Q182: Use the following set of preferences (table
Q182: Which of the following statements is true?
A)Markets
Q186: A Republican candidate appeals to a very
Q188: It is hoped that productive efficiency will
Q188: Consider two children,Janet and Joey,sharing the same
Q189: Many want to reform government by providing
Q194: Why does the median voter tend to
Q196: What is government failure?
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents