Explain the law of diminishing returns using crime prevention as the good in question

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A: When the insurance companies sell insurance, they require applicants to provide medical history…

Q: Which of the following is an example of moral hazard in the medical industry?   Choose the best…

A: Moral hazard is a problem of asymmetric information that arises when one party behaves differently…

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A: Marginal benefit: It refers to an increase in the amount of money the consumer is willing to pay for…

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A: Ethics of Utilitarianism Utilitarianism, the first ethical paradigm in normative ethics, is commonly…

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Q: A law is passed providing for compulsory vaccination and subjects a person to imprisonment for…

A: A law is passed providing for compulsory vaccination and subjects a person toimprisonment for…

Q: advantages and disadvantages of using positivist methodology in economics

A: Positivists are the group which prefer quantitative ways in research which they believe is more…

Q: Loan applications require a lot of information from applicants to avoid Group of answer choices A.…

A: Answer: The problem of Moral hazard occurs when a party can increase its exposure to risk because it…

Q: In Ethics. The act of killing the priest inside the church during the mass is heavier act of killing…

A: It is already a serious crime to murder a priest. It would be much more serious if it is done within…

Q: Is the death penalty a deterrent to murder? One way to answer is to compare homicide rates in U.S.…

A: Correct option is (a).

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A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: True or False: Write true if the statement is correct and False if it is incorrect. Write your…

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Q: The implementation and enforcement of the seat belt law, has resulted in an increase in the number…

A: Economics is a branch of social science that deals with the production, distribution, and…

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A: Street justice is never legal as a sufficient justification because it encourages a violent mindset…

Q: Consider the simple model of law enforcement where there are only monetary sanctions, people are…

A: Social Cost refers to the private cost incurred by the individual directly involved in a transaction…

Q: Consider the following screening test for cancer applied to 100,000 people of whom 100 have cancer.…

A: The maximum amount a consumer will pay for an additional good or service is known as the marginal…

Q: Which of the following situations illustrate inclusivity in a school community? *   A. Walkways…

A: Answer: Inclusivity is a school community: inclusivity refers to the measures or steps to include…

Q: The demand for clean streets in a neighborhood is Q = 125 – P. For each of the following questions,…

A: As there is sufficient supply of the streets in the neighborhood, the situation is that of a Perfect…

Q: A student stops studying before the point at which his marginal benefits of studying equal his…

A: The person is in equilibrium when the marginal benefit is equal to the marginal cost. Here, the…

Q: Suppose there are two types of persons: high-ability and low-ability. A particular diploma costs a…

A: For a low-ability person to not pursue education, it should $25,000 =K – $20,000, otherwise pursuing…

Q: Thelma owns a cat which wakes up her roommate Louise at 6am every morning. Thelma enjoys cat…

A: Every morning at 6 a.m, Thelma's cat wakes up her roommate Louise. Thelma appreciates having a cat,…

Q: If you have health insurance that covers the cost of visiting the doctor, you may be less likely to…

A: The behaviour of people will be influenced by various factors. When a person doesn't have vehicle…

Q: Which type of grant is usually better at increasing the quantity spent on public goods?…

A: A grant is a amount of money that is providing financial assistance or support by the government or…

Q: What is NOT a key feature of gentrification? a_A return of wealthier classes to inner-city areas…

A: The public trust states that some basic resources like water, air, and forest have greater…

Q: What affects the desirability of a​ product? Products become more desirable when   A. professional…

A: Answer - Need to find - The product becomes desirable when -   Evaluating the options - A.…

Q: Public Good Contribution: Three players live in a town, and each can choose to contribute to fund a…

A: Answer-

Q: During a nationwide program to immunize the population against a new strain of the flu, public…

A: For this, the value of x need to calculated, when the C(x)=17.

Q: Insurance coverage has been shown to diminish the importance of time in the decision about how much…

A: Once a person purchases health insurance, he or she is likely to spend a lesser amount of time in…

Q: Outlining examples, provide a short (economic) definition of each of these terms, which have been…

A: Altruism: The philosophy and religious practice of altruism is concerned with other people's…

Q: Although Toyota struggled during the global financial crisis, the more recent earthquake and tsunami…

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Q: how does asymmetric infomation lead to allocative inefficiency in online markets

A:

Q: A college professor and a cardiologist enjoy playing tennis on Saturday mornings. They both give up…

A: The economics is a study where the allocation about the resources which is scarce in nature is done.…

Q: Sean is a community college student and has been saving his tips from his job waiting tables at a…

A: Answer: Economically efficient outcome refers to the outcome where the total surplus in the economy…

Q: George Akerloff focused the market for used cars and discussed an issue later generally called the…

A: Lemons problem: It refers to the problem which is connected with the defective cars. This problem…

Q: Consider the simple model of law enforcement where there are only monetary sanctions, people are…

A: Social costs refers to the cost to society. It is the sum of private cost and external cost of the…

Q: The information which is reflected in current market prices with the help of past price movements is…

A: In economics, efficiency refers to the situation when all the goods and the resources are…

Q: A well educated society can be considered which of the following, as it pertains to economics?…

A: If a person's knowledge and abilities are developed in such a way that they finally result in a…

Q: Question 43 Refer to the situation and table in Question 42.  From an economic perspective, should…

A: A cost-benefit analysis is a deliberate interaction that organizations use to investigate which…