Question

Why do we need security personnel, and do they contribute to our welfare? Could we make everyone at least as well-off if we would all cooperate so that we could reallocate some protective labor to more productive activity? Could this be an example of a prisoner’s dilemma? Diagram the game and explain where the US economy rests.

Answer 1

1)We all need security personnel beacause they protect people and maintain safety in the society and locality. Security personnel is very important because often times the there watchful presence decrease the deter criminals and prevent incidents.The another meaningful need of security personnel is that people feel grateful for the presence of security guard and the security personnel can be rewarded if they will do there jobs properly and yes they contribute a major role in our welfare. They provide the service in emergencies,protect properties,monitoring alarms and surveillance systems,patrolling areas and performing security checks, even in festivals they work day and night for our safety.

2) Answer is yes

reallocatin labor in a creative and innotive way can lead to the increasement of productivity in the economy. It will improved by examining oer unit coats among inputs and making appropiate adjustments in the farms input mix.

for example

by increasing physical capital per worker

by adopting new methods and increasing human capital per worker,etc'

3)If the labor reallocate in a firm then this can be a good example of prisoners dilemma as we all know that the prisoners dilemma is a standard example of a game analyzed in game theory. The prisoners dilemma shoes why two completely rational individuals might not cooperate, even if it appears that it is in their best interest to do so.