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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 non-customers who make $12 million in withdrawals from other banks' ATM machines. On average, noncustomers earn a wage of $ 24 per hour and pay ATM fees of $ 3.00 per transaction. It is estimated that banks would be willing to maintain services for 5 million transactions at $ 1.25 per transaction, while noncustomers would attempt to conduct 19 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
1) Describe the impact this would have on a manuafaturer who manufactures ATM machines. Please defend your answer incorporating your knowledge about supply and demand?
2) If you were the vice president in charge of ATM services, what would you advise the CEO to do with regards to your analysis?
The widget industry is currently a monopoly facing the demand curve P=200-20Q, where Q is total industry output. Firm 1 is the monopolist and has a marginal cost of $20. Firm 2 is a potential entrant and must pay $130 up front to enter. Once it pa..
Real GDP equals 5000, nominal GDP equals 10,000 and the price level equals 2, then what is velocity if the money stock equals 2000?
Aside from maximizing profits, assess the factors that managers must consider when making the decision to outsource or integrate forwards or backwards considering which factor would be most influential for decision-making.
1. consider a two period model. an agent gains utility from consumption today c1 and in the future c2 according to uc1
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firms can operate in one or more markets and not always on the same side of the market. general motors is a buyer in
a. How many different possible dial combinations are there for this lock b. What is the probability that if you randomly select a posi- tion on each dial, you will be able to open the bank vault c. Explain why "dial combinations" are not mathematical..
In the market for corn flakes the price of cardboard used in packing the cereal has risen at the same time that the Surgeon General releases a report detailing the dangers of a diet high in corn products
If Kevin is a rational consumer, where will he choose to operate on this graph? Identify the equilibrium point that maximizes Kevin's net benefits by selecting point A, B, or C.
Find the future value one year from now of a $7,000 investment at a 3 percent annual compound interest rate. Also calculate the future value if the investment is made for two years
Bank A has a leverage ratio of 10, while Bank B has a leverage ratio of 20. Similar losses on bank loans at the two banks cause the value of their assets to fall by 7 percent.
Distinguish between commonly used trade-restricting devices, including tariffs, quotas, voluntary export restraints, and exchange-rate controls and explain their impact on the domestic economy.
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