Solution-Accurate accounting of the economic costs

Accurate accounting of the economic costs

Assignment Help Basic Computer Science

Reference no: EM131499117

A newspaper article in a large metropolitan area noted that the costs of crime in a given year were $900 million. This was made up of $100 million dollars for the police force and $800 million in stolen property.

Was the $900 million an accurate accounting of the economic costs of the crime? Why or why not?
A mayoral candidate ran on the basis of eliminating all crime in the city. Is this an economically efficient use of resources? Why or why not?
Is victim "pain and suffering" a valid economic cost of crime? How would you measure it?
If there is only a limited amount of money available for crime prevention, what is the economically efficient criterion for allocating it? Why?

Reference no: EM131499117

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Accurate accounting of the economic costs

Reference no: EM131499117

Reference no: EM131499117

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