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Explain the economics of the substitution of ATMs for human tellers. Some banks are beginning to assess transaction fees when customers use human tellers rather than ATMs. What are these banks trying to accomplish?
Please use the following link {YOU WILL NEED TO COPY AND PASTE THE LINK} to submit a one paragraph summary and three paragraph opinion on its modern day connection to the concept of input substitutions found in our next Chapter dealing with INPUT SUBSTITUTIONS. Include any other examples your can think of as well!
Therefore this is a two part assignment...the Last Word and the response to the article. The article information must be aligned to the idea of input substitutions and their significance but must reflect your words...your point of view with examples. (While this article is based on predicting into 2014, it is interesting to note whether or not you have seen any of these!!)
If R and F both have 12 hours of labor that they can give to catching fish or goats, and R requires 1 hour to catch a fish and 2 hours to catch a goat, F requires 6 hours to catch a fish and 3 hours to catch a goat. They are able to trade at Pf=Pg..
If she spends all of her income on uglifruits and breadfruits, Natalie can just afford 11 uglifruits and 4 breadfruits per day. She could also use her entire budget to buy 3 uglifruits and 8 breadfruits per day. The price of uglifruits is 8 yen ea..
John Smith, C.E.O. of A.B.Co. is attempting to estimate the quantity of his product that will be demanded during April. At the current price of $20.00, A.B. Co. is selling 100,000 units per month. Mr. Smith has been informed th..
Some have one year of formal training and earn the Refrigeration Mechanic Certificate if they pass the test at the end. Some take a second year of formal training and earn the Refrigeration Mechanic Diploma if they pass the test at the end. Traine..
Find the firm's marginal production function exhibit diminishing marginal returns to labor? explain b. Capital is r=$5 per unit and that labor costs w=$20 per unit. What is the cost of producing q=100 units of K and 100 units of L? c. What is the m..
Consider three alternative policies, each with a different set of outcomes in terms of output and inflation, as shown in the following table: Output Policy A (1) 500.0, (2) 515.0, (3) 530.5, (4) 546.4, (5) 562.8. Output Policy B (1) 500.0, (2) 500..
A manager in charge of new product development can hire engineers and market researchers. The annual salary of an engineer is $40,000 while a market researcher receives $20,000. The marginal contribution of engineers and market researchers are
Real Disposable Income Planned Real Consumption 0 3,000 2,000 4,400 4,000 5,800 6,000 7,200 8,000 8,600 10,000 10,000 12,000 11,400 14,000 12,800 Refer to Table 12.1. The table gives the combinations of income and consumption.
Two types of power converters are under consideration for a specific application. An economic comparison is to be made using a MARR of 20% and the following cost estimates: Data Alpha Beta Service life (years) 5 9
To demonstrate that a utility function that is a monotonic transformation of another utility function gives that same first-order conditions and hence the same demand functions, multiply the utility function U = U(X,Y) by a constant
The ABC marketing consulting firm found that a particular brand of portable stereo has the following demand curve for a certain region: Q=10,000-200P+0.03Pop+0.6I+0.2A Where Q is the quantity per month, P is price($), Pop is population
A student is taking two courses, history & math. The probability the student will pass in the history course is .60 and math is .70. The probability of passing both is .50.
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