Question

How Many Police Officers? In your city, each police officer has a budgetary cost of $40,000 per year. The property loss from each burglary is $4,000. The first officer hired will reduce crime by 40 burglaries, and each additional officer will reduce crime by half as much as the previous one. (Enter all of your responses below as integers.) The 3rd officer will reduce property The 1st officer will reduce property loss by $ The 2nd officer will reduce property loss by $ loss by $ . Finally, the 4th officer will reduce property loss by $ . On the graph on the right, draw two objects: Property Loss (thousands $) 1) The marginal benefit curve using the 4-point curved line drawing tool. (Use the information above for your control points. To illustrate, locate the first control point for your curve at number of officers = 1 and property loss = 160.) Label this line 'MB'. 2) Use the line drawing tool to draw the marginal cost line Label this line 'MC'. Note: if you are not prompted for labels for these drawn objects, you have used the wrong drawing tool. How many officers should the city hire? | (Enter your response as an integer.) 5 4 Number of Police Officers

Answer 1

MC- $40,000 MB of ist offer= 40X4000 = 160 thousand MB of and offlor - Pox 4000 - 80 thousand MB of 3rd n = 10x400 = 40 thousand n = 5x4000 = Po thousand MB of 4th mc MB cunue. This city should have [3 officers Because MB = mc at 3 officers