How Many Police Officers? In your city, each police officer has a budgetary cost

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 200 80 Enter all of your responses below as integers.) The 1sh officer will reduce property loss by $The 2h0 officer will reduce property loss by s reduce property loss by $Finally, the 4th officer will reduce property loss by s The 3"d officer will 40 20- On the graph on the right, draw two objects: 80 1.) Use the 4-point curved line drawing tool to draw the marginal benefit curve. (Use the information above for your control points. To ilustrate, locate the first control point for your curve at number of officers 1 and property loss 160.) Label this line MB' 40 2.) Use the line drawing tool to draw the marginal cost line Label this line 'MC'. Carefully follow the instructions above, and only draw the required objects. How many officers should the city hire? L. (Enter your response as an integer) 20 Number of Police Officers

Explanation / Answer

Each burglury cost 4000, One officer saves 40 burgluries hence cost of 40*4000=160,000

1st officer will reduce property loss by $160,000

Additional officer added will reduce property loss by half of previous case hence 2nd officer will reduce property loss by $80000

Similarly 3rd officer will reduce property loss by $40000 and 4th will reduce by $20,000.

Using Conventional method to calculate number of officers

Cost of recruting officers= Total Property loss saved

40000*n=160000*1/2+160000*1/4+...+...

40000*n=160000(1/1-0.5)=320000

n=8

Hence * officers should be employed

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