Criminal justice policy will increase social efficiency

Assignment Help Business Economics

Reference no: EM131385590

Economists recommend that crime policy have the goal of minimizing the "costs of crime", which include the social costs of the crimes themselves and the social cost of enforcing the criminal law. What is the general rule for determining whether a particular change in criminal justice policy will increase or decrease social efficiency?

Reference no: EM131385590

Questions Cloud

What is the impact when you change it : Question: A set of 5 points that are very close together what is the impact when you change it

Argument for maintaining positive rate of inflation : Which of the following is NOT an argument for maintaining a positive rate of inflation? Advocates of taxing consumption rather than income argue that

What will the magazine publisher do in the long-run : You are a magazine publisher. You are in the middle of a one-year rental contract for your factory that requires you to pay $400,000 per month, and you have contractual labor obligations of $1 million per month per the labor union agreement. If the e..

Do you agree or disagree with given statement : The Russian Revolution was key to the outcome of WWI? Do you agree or disagree with this statement? Explain your reasons with relevant sources

Criminal justice policy will increase social efficiency : Economists recommend that crime policy have the goal of minimizing the "costs of crime", which include the social costs of the crimes themselves and the social cost of enforcing the criminal law. What is the general rule for determining whether a par..

Find the best price to maximize the revenue : 6000 bottles of water are sold when the price is $3 per bottle. when the prices is $4 per bottle, 5500 are sold. find the linear price equation where the price is p(x) and x represents bottles of water. set up table of (x,y) values showing your work...

Considering new bottle-capping machine : A company is considering a new bottle-capping machine. The initial cost of the machine is 300,000 SR and it has a 20 year life. Yearly maintenance cost is estimated to be 15000 per year. The machine required a major overhaul costing 50000 at the end ..

Short and long-run marginal and average cost curves : How will a tax of $5 per unit produced affect the short- and long-run marginal and average cost curves? What about an annual license fee of $500 per year regardless of production level? (Make sure you address all possible average costs—e.g., fixed, v..

Find themselves at the same wealth maximizing output : Two firms have identical cost curves, but firm A is a price taker while firm B is a price searcher. Is it possible that the two firms could find themselves at the same wealth maximizing output?

User Account

All Pages