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![\"\"](\"https:\/\/dev.latinhire.com\/material\/wp-content\/uploads\/2013\/04\/economics.jpg\" "\\"economics\\"")
<\/a><\/p>\nComentarios del Tutor:<\/strong> Este es un ejercicio bastante com\u00fan en las sesiones de Econom\u00eda. No es complicado pero a veces el estudiante no sabe c\u00f3mo empezar. Edit\u00e9 un poco la sesi\u00f3n para enfatizar que es muy importante hacer que el estudiante complete las columnas, haga los c\u00e1lculos y justifique la respuesta. Al final el objetivo es lograr que el estudiante se sienta due\u00f1o de la respuesta\u00a0despu\u00e9s\u00a0de haber pensado un poco. A continuaci\u00f3n la sesi\u00f3n:<\/p>\n Student<\/strong>: A bank in a medium-sized midwestern city, Firm X, currently charges $1 per transaction at its ATMs. To determine whether to raise price, the bank managers experimented with a number of higher prices (in 25-cent increments) at selected ATMs. The marginal cost of an ATM transaction is $0.50. ATM Fee Usage $2 1,000 $1.75 1,500 $1.50 2,000 $1.25 2,500 $1.00 3,000 What ATM fee should the bank charge?<\/p>\n Tutor:<\/strong> Hi, how are you?<\/p>\n Student<\/strong>: Hello<\/p>\n Tutor:<\/strong> I see you have a profit maximization problem. Did you start solving this?<\/p>\n Student:<\/strong> No. I’ve been trying to solve it, but have had issues for quite some time. I don\u2019t know how to start.<\/p>\n Tutor:<\/strong> In this kind of problem it\u2019s good to have all the information in a table. Please see the whiteboard. We have information of the price, the quantity demanded and the marginal cost.<\/p>\n Student:<\/strong> The fee is the price, right?<\/p>\n Tutor:<\/strong> Yes, that\u2019s what the bank receives for each transaction.<\/p>\n Student:<\/strong> Alrighty.<\/p>\n Tutor:<\/strong> In the whiteboard I put a table with 5 columns, let\u2019s complete it with your information<\/p>\n Student:<\/strong> OK<\/p>\n Tutor:<\/strong> Do you know what profit is?<\/p>\n Student:<\/strong> Like, the equation?<\/p>\n Tutor:<\/strong> The concept<\/p>\n Student:<\/strong> Yes<\/p>\n Tutor:<\/strong> Can you please tell me?<\/p>\n Student:<\/strong> Does it matter if its economic or accounting profit?<\/p>\n Tutor:<\/strong> In this case both are the same, profit is just the difference between revenue and cost. Can you please complete the columns of revenue and profit? Remember that revenue equals P*Q<\/p>\n Student:<\/strong> Working on it<\/p>\n Tutor:<\/strong> Take your time<\/p>\n Student:<\/strong> Finished<\/p>\n Tutor:<\/strong> Let me check. The revenue is correct but not the profit. Profit = total revenue \u2013 total cost. Keep in mind that each transaction cost 0.5<\/p>\n Student:<\/strong> Then MC*Q = TC?<\/p>\n Tutor:<\/strong> Yes!!! Can you please complete that column?<\/p>\n Student:<\/strong> Done<\/p>\n Tutor:<\/strong> Perfect, now we can answer our question. What ATM fee should the bank charge?<\/p>\n Student:<\/strong> Not sure<\/p>\n Tutor:<\/strong> Remember we need to maximize the profit.<\/p>\n Student:<\/strong> Then it should be 1.5<\/p>\n Tutor:<\/strong> Why?<\/p>\n Student:<\/strong> Because it gives you the largest profit<\/p>\n Tutor:<\/strong> Exactly!!! That\u2019s correct =)<\/p>\n Student:<\/strong> wonderful! Thanks!!<\/p>\n Tutor:<\/strong> You\u2019re welcome. Do you have any question about anything we went over today?<\/p>\n Student:<\/strong> makes sense…gotcha. Thanks man :) Spent forever getting this done!! Thanks!! Enjoy your evening<\/p>\n Tutor:<\/strong> You too, have a good night.<\/p>\n <\/p>\n \u00a0Colaborador: Jaime Vargas, Tutor Boliviano de Econom\u00eda<\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Comentarios del Tutor: Este es un ejercicio bastante com\u00fan en las sesiones de Econom\u00eda. No es complicado pero a veces el estudiante no sabe c\u00f3mo empezar. Edit\u00e9 un poco la sesi\u00f3n para enfatizar que es muy importante hacer que el estudiante complete las columnas, haga los c\u00e1lculos y justifique la respuesta. Al final el objetivo…<\/p>\n","protected":false},"author":9,"featured_media":3648,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":[],"categories":[91,89],"tags":[],"post_series":[],"_links":{"self":[{"href":"https:\/\/dev.latinhire.com\/es\/wp-json\/wp\/v2\/posts\/3585"}],"collection":[{"href":"https:\/\/dev.latinhire.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev.latinhire.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev.latinhire.com\/es\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/dev.latinhire.com\/es\/wp-json\/wp\/v2\/comments?post=3585"}],"version-history":[{"count":1,"href":"https:\/\/dev.latinhire.com\/es\/wp-json\/wp\/v2\/posts\/3585\/revisions"}],"predecessor-version":[{"id":3650,"href":"https:\/\/dev.latinhire.com\/es\/wp-json\/wp\/v2\/posts\/3585\/revisions\/3650"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dev.latinhire.com\/es\/wp-json\/wp\/v2\/media\/3648"}],"wp:attachment":[{"href":"https:\/\/dev.latinhire.com\/es\/wp-json\/wp\/v2\/media?parent=3585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev.latinhire.com\/es\/wp-json\/wp\/v2\/categories?post=3585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev.latinhire.com\/es\/wp-json\/wp\/v2\/tags?post=3585"},{"taxonomy":"post_series","embeddable":true,"href":"https:\/\/dev.latinhire.com\/es\/wp-json\/wp\/v2\/post_series?post=3585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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