A university currently fines unauthorized parking in faculty/staff parking spaces 50. The university currently employs five parking enforcement officers and estimates that the probability that a parking violator is ticketed is .4. Assume that all ticketed violations result in payment of the fine. Adding a sixth parking enforcement officer is expected to increase the probability that a parking violator is ticketed to .5. (a) The university is considering adding another parking enforcement officer to better address this parking issue. A faculty member suggests that instead of adding another parking enforcement officer the university should simply raise the fine to 80. Assuming that potential parking violators rationally weight the costs and benefits of parking illegally, which policy will have a bigger impact? Explain. (b) Suppose the cost of the additional officer is a factor. Which policy, as described in part a) above, would be preferred? Explain