In areas where Mafia (Mob/organized crime) rules, crime rate is less than areas where there is no mafia but there are small time criminals. How can you explain this from a monopolistic point of view?

Read pp 80-86 (attached) 1. Why do monopolistic industries, such as organized crime or "The Mob" in 1935, produce less crimes, especially petty property crimes, in an area than do areas with relatively more independent, or small time criminals? (Explain in terms from Table 12.1, type of product, barriers to entry, number of firms, market power) 2. Explain, using economic terms (marginal benefit, marginal cost) why it was economically rational for crime leaders to assassinate Dutch Schultz in 1935, not Thomas E. Dewey? (For more on their legends/stories, you can Google) 1. In a world of limited resources, why would the government of Bogota, Columbia in the late twentieth century/early 21 st century spend more resources in reducing the murder rate than reducing property crimes such as burglary and robbery? Consider tourism and travel as part of the city's economy. Sowell-reader-80-97.pdf Search entries or author Unread Reply Replies are only visible to those who have posted at least one reply