(Answered) Probability of arrest and probability of conviction

Economics

Problem: Assume that the probability of arrest and the probability of conviction (given arrest) are 0.8 and 0.5, respectively. The expected sentence is 20 years.

Required:

Question 1: Calculate the values of punishment of individual A and B.

Question 2: Calculate the expected-punishment costs of individual A and B.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91807001
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