In the late 1990s, the town of Santa Monica, California, made it illegal for banks to charge people ATM Monica passed this law, Bank of America stopped allowing customers from other banks to use their ATI A banned "out-of-network" ATM usage. Let's imagine the effect of a full ban on out-of-network fees. a. In the Agure, indicate the new price (P) per out-of-network ATM transaction after the fee ban. Also clearly label the shortage (S1,S2). $ 4 F4 R 5 6 MacBook Air F6 Y b. Calculate the exact amount of producer and consumer surplus in the out-of-network ATM market in S & 7 U 8 Out-of-network fee ($) FO 5.0 4.0 3.0 2.0 1.0 0.0 Number of out-of-network ATM trans 9 DD Sup 0 Deman 0 F10 P
In the late 1990s, the town of Santa Monica, California, made it illegal for banks to charge people ATM Monica passed this law, Bank of America stopped allowing customers from other banks to use their ATI A banned "out-of-network" ATM usage. Let's imagine the effect of a full ban on out-of-network fees. a. In the Agure, indicate the new price (P) per out-of-network ATM transaction after the fee ban. Also clearly label the shortage (S1,S2). $ 4 F4 R 5 6 MacBook Air F6 Y b. Calculate the exact amount of producer and consumer surplus in the out-of-network ATM market in S & 7 U 8 Out-of-network fee ($) FO 5.0 4.0 3.0 2.0 1.0 0.0 Number of out-of-network ATM trans 9 DD Sup 0 Deman 0 F10 P
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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In the late 1990s, the town of Santa Monica, California, made it illegal for banks to charge people ATM Monica passed this law, Bank of America stopped allowing customers from other banks to use their ATI A banned "out-of-network" ATM usage. Let's imagine the effect of a full ban on out-of-network fees. a. In the Agure, indicate the new price (P) per out-of-network ATM transaction after the fee ban. Also clearly label the shortage (S1,S2). $ 4 F4 R 5 6 MacBook Air F6 Y b. Calculate the exact amount of producer and consumer surplus in the out-of-network ATM market in S & 7 U 8 Out-of-network fee ($) FO 5.0 4.0 3.0 2.0 1.0 0.0 Number of out-of-network ATM trans 9 DD Sup 0 Deman 0 F10 P
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