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From California to New York, legislative bodies across the United States are considering eliminating or reducing the surcharges that banks impose on noncustomers, who make $12 million in withdrawals from other banks’ ATM machines. On average, noncustomers earn a wage of $26 per hour and pay ATM fees of $2.75 per transaction. It is estimated that banks would be willing to maintain services for 4 million transactions at $1.00 per transaction, while noncustomers would attempt to conduct 20 million transactions at that price. Estimates suggest that, for every 1 million gap between the desired and available transactions, a typical consumer will have to spend an extra minute traveling to another machine to withdraw cash.
Based on this information, what would be the nonpecuniary cost of legislation that would place a $1.00 cap on the fees banks can charge for noncustomer transactions? Instructions: Round your answer to the nearest penny (2 decimal places). $_____
What would be the full economic price of this legislation? $_____
Answer the question below by assuming that the following conditions prevail in the banking system: Reserve requirements equal to %10 on demand deposits accounts. Currency in circulation amount to $40 billion - Savings and Time deposits amount to $400..
Under monopoly, still with the price PW which is again label triangle of consumer surplus and the triangle of producer surplus.
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Which of the following is least likely to be part of the opportunity cost of a college degree? An increase in the interest rate is expected to cause the optimal level of human capital investment for an individual to:
(Economics - Slavin, 2009) Between 1994 and 2005 our welfare rolls
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Manager of EPS find outs two output levels that appear to be optimal. Illustrate what are these levels of output and which one is actually optimal.
q1. explain why does production ultimately experience diminishing marginal returns to labor in the short run?q2. what
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The data is listed per quarter, and real GDP data was calculated using 2005 as the base year. Fill in the columnns for the GDP deflator and for the percent increase in price level.
Using diagrams show what changes in price and quantity would be expected in the beer market under the scenarios given. Indicate what happens to equilibrium price and quantity and state whether the effect is a change in demand/supply or quantity deman..
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