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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 the quantity of money rose 10%, velocity was unchanged, and output rose 6%, what would be the inflation rate, according to the equation of exchange? Equation given: (Quantity of Money) * (It's velocity) = (Price level) * (Output) or ((QM) * V ..
A woman makes an investment every 3 months at a nominal annual interest rate of 28%, compounded quarterly. Her first investment was $100, followed by investments increasing $20 each 3 months.
Price Quantity Demanded $ 1 1,200 pies 2 1,100 3 1,000 4 900 5 800 6 700 7 600 8 500 9 400 10 300 11 200 12 100 13 0 Each producer in the market has fixed costs of $9 and the following marginal cost. Quantity Marginal Cost 1 pie $ 2 2 4 3 6 4 8 5 ..
Suppose a monopolist charges a price of $27 for its product and sells 10 units at that price. At 10 units of production the firm has average fixed cost equal to $10 and average variable cost equal to $12. How much total profit is the firm earning ..
Suppose that demand for cartel's oil is given by P=50-.1Q where P is the price per barrel and Q is the quantity produced in barrels. If the cartel's aggregate marginal cost is given by MC= 10+0.2Q what is the cartel's profit maximizing price of oi..
Suppose our business plans to take out a 5-year loan for $100,000. The after-tax MARR is 10%, the tax rate is 40%, and the loan interest rate is 15%. Rank the following loan options using present worth analysis: Method 1: Balloon loan (pay only in..
A monopolist has a linear inverse demand of: P(q) = 100 - (1/4)q and has a cost function of: C(q) = 2438 + 4q What are the monopolistic market price, quantity and prots
If the ratio of currency to transaction deposits is 2, the ratio of nontransaction deposits to transaction deposits is 5, the ratio of retail money-market funds to transactions deposits is 1, the ratio of required reserves to transactions deposits..
The U.S. market requires hardcover books with a marginal cost of $24.00 while the overseas market is normally served with soft-cover texts having a marginal cost of only $18.00.
Monopoly manager has the demand and cost functiones as P=200-2Q and C(q)=2000+3Q2 1- calculate the maximum profits 2- what price-quantity combination maximizes the profits 3- at the profit-maximizing price-quantity combination, what is the demand ela..
Suppose you have been tasked with regulating a single monopoly firm that sells 50-pound bags of concrete. The firm has fixed costs of $30 million per year and a variable cost of $1 per bag no matter how many bags are produced.
The best level of output for a monopolist in the short run is 500 units and is MR=MC. At this point Q=500, P= $11 and ATC= $8, so that the monopolist earns a profit of $3/per unit and a total profit of $1,500. Suppose that the AFC of the monopolis..
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