Assume that potential offenders can choose between burglary and larceny because these two crimes involve similar skills and abilities. Assume that sanctions for larceny rise significantly. What effect would you expect this to have on burglary and on larceny? ( question from Economics of Crime and Enforcement (Anthony Yezer 2014) ch.5 The Market for Crime with Victims) a. Set up the demand and supply model for crime (3 graphs) in an initial equilibrium, and then illustrate the full effects of the change. b. Explain, in a few sentences, the effects of the change on the market equilibrium. Be sure to explain the reason for shifting demand or supply. Do not use chatgpt. Thank you!
Assume that potential offenders can choose between burglary and larceny because these two crimes involve similar skills and abilities. Assume that sanctions for larceny rise significantly. What effect would you expect this to have on burglary and on larceny? ( question from Economics of Crime and Enforcement (Anthony Yezer 2014) ch.5 The Market for Crime with Victims) a. Set up the demand and supply model for crime (3 graphs) in an initial equilibrium, and then illustrate the full effects of the change. b. Explain, in a few sentences, the effects of the change on the market equilibrium. Be sure to explain the reason for shifting demand or supply. Do not use chatgpt. Thank you!
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Assume that potential offenders can choose between burglary and larceny because these two crimes involve similar skills and abilities. Assume that sanctions for larceny rise significantly. What effect would you expect this to have on burglary and on larceny? ( question from Economics of Crime and Enforcement (Anthony Yezer 2014) ch.5 The Market for Crime with Victims) a. Set up the demand and supply model for crime (3 graphs) in an initial equilibrium, and then illustrate the full effects of the change. b. Explain, in a few sentences, the effects of the change on the market equilibrium . Be sure to explain the reason for shifting demand or supply.
Do not use chatgpt. Thank you!
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