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(a) How is the optimal punishment of a crime determined if the punishment for a crime is in the form of a fine? Explain. (b)

(a) How is the optimal punishment of a crime determined if the punishment for a crime is in the form of a fine? Explain.

(b) What are some of the implications of the theory of optimal punishment of crime first developed by Becker (1968)? Explain

Note: The theory of optimal punishment was first laid out by Gary Becker (1968).

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