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\u2019 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<\/p>\n
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?<\/p>\n
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?<\/p>\n","protected":false},"excerpt":{"rendered":"
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\u2019 ATM machines. On average, noncustomers earn a wage Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-75306","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/75306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=75306"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/75306\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=75306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=75306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=75306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}