What is risk management and why is it important?
What will be an ideal response?
Risk management is where a police department employs attorneys or professional risk managers to evaluate police department procedures and operations to minimize liability and risk to officers while performing their police duties. Risk management is not only implemented to reduce the risk of litigation; it is also implemented to protect police officers.
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Use the following table to answer the question below.Number of UnitsTotal Utility110021903270434054006450What is the marginal utility of the second unit?
A. 90 utils B. 47.5 utils C. 95 utils D. 190 utils
Costs that deter firms from changing prices in response to demand changes are known as
A) sticky costs. B) menu costs. C) policy costs. D) production costs.
Exhibit 1A-3 Straight line
Straight line AB in Exhibit 1A-3 is a downward sloping line illustrating:
A. a direct relationship between X and Y. B. an inverse relationship between X and Y. C. X and Y are unrelated variables. D. the ceteris paribus assumption.
If a government wants to maximize revenues from a tax, it should
A) impose it on sellers. B) impose it on consumers. C) choose a good with a relatively elastic demand. D) choose a good with a relatively inelastic demand.