Difference between debit and credit card.

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Answer 1

Question

Chapter 14, Problem 1.1P

To determine

Difference between debit and credit card.

Expert Solution & Answer

Explanation of Solution

Using a debit card is just like using cash because, in order to use debit card, one must have balance in the account so that he/she can clear the transaction made with the debit card. Without having balance in the bank account, one cannot use the debit card. On the other hand, credit card is just like loan that does not require minimum balance in the account in order to use the card. But the holder of the credit card has to pay back the money borrowed with the credit card.

Economics Concept Introduction

Introduction:

Debit card is a card that allow card holder to transfer money to other’s account or to pay for the purchase of goods and services. It also allows holder to transfer money available in the bank account.

Credit card is a card that allow card holder to transfer money or to pay for the purchase of goods and services. It also allows holder to transfer money above available balance in the account but only up to a certain limit.

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a) Assume there are two firms, 1 and 2, competing as Cournot duopolists in a market, selling a homogeneous product. Demand is given by p = 36 – (q1 + q2), where p is price and q1 and q2 are the outputs of firms 1 and 2 respectively. Each firm faces a marginal cost of 6 per unit of output and no fixed cost. Find each firm’s optimal output, the price at which they sell, each firm’s profit , and consumer surplus. b) Now assume that the firms face the same costs, but horizontally differentiate their product, so that firm 1 faces demand p1 = 36 – (q1 + q2/2) and firm 2 faces demand p2 = 36 – (q1/2 + q2). Assume Cournot competition. Calculate the new equilibrium prices and outputs for each firm, consumer surplus and profits. c) Now assume that rather than facing a given degree of product differentiation, the firms can choosehowdifferentiatedtheirproductsare.Thisisequivalenttoinversedemandequationsp1 =36 –(q1 +θq2)andp2 =36–(θq1 +q2),0≤θ≤1,withθdeterminedbythefirms’choicesofproduct…

Assume there are two firms, 1 and 2, competing as Cournot duopolists in a market, selling a homogeneous product. Demand is given by p = 36 – (q1 + q2), where p is price and q1 and q2 are the outputs of firms 1 and 2 respectively. Each firm faces a marginal cost of 6 per unit of output and no fixed cost. Find each firm’s optimal output, the price at which they sell, each firm’s profit , and consumer surplus.

What is the relationship between the humanities and self identity

Answer 2

Question

Chapter 14, Problem 1.1P

To determine

Difference between debit and credit card.

Expert Solution & Answer

Explanation of Solution

Using a debit card is just like using cash because, in order to use debit card, one must have balance in the account so that he/she can clear the transaction made with the debit card. Without having balance in the bank account, one cannot use the debit card. On the other hand, credit card is just like loan that does not require minimum balance in the account in order to use the card. But the holder of the credit card has to pay back the money borrowed with the credit card.

Economics Concept Introduction

Introduction:

Debit card is a card that allow card holder to transfer money to other’s account or to pay for the purchase of goods and services. It also allows holder to transfer money available in the bank account.

Credit card is a card that allow card holder to transfer money or to pay for the purchase of goods and services. It also allows holder to transfer money above available balance in the account but only up to a certain limit.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 14, Problem 1.1P

To determine

Difference between debit and credit card.

Expert Solution & Answer

Explanation of Solution

Using a debit card is just like using cash because, in order to use debit card, one must have balance in the account so that he/she can clear the transaction made with the debit card. Without having balance in the bank account, one cannot use the debit card. On the other hand, credit card is just like loan that does not require minimum balance in the account in order to use the card. But the holder of the credit card has to pay back the money borrowed with the credit card.

Economics Concept Introduction

Introduction:

Debit card is a card that allow card holder to transfer money to other’s account or to pay for the purchase of goods and services. It also allows holder to transfer money available in the bank account.

Credit card is a card that allow card holder to transfer money or to pay for the purchase of goods and services. It also allows holder to transfer money above available balance in the account but only up to a certain limit.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 14, Problem 1.1P

To determine

Difference between debit and credit card.

Expert Solution & Answer

Explanation of Solution

Using a debit card is just like using cash because, in order to use debit card, one must have balance in the account so that he/she can clear the transaction made with the debit card. Without having balance in the bank account, one cannot use the debit card. On the other hand, credit card is just like loan that does not require minimum balance in the account in order to use the card. But the holder of the credit card has to pay back the money borrowed with the credit card.

Economics Concept Introduction

Introduction:

Debit card is a card that allow card holder to transfer money to other’s account or to pay for the purchase of goods and services. It also allows holder to transfer money available in the bank account.

Credit card is a card that allow card holder to transfer money or to pay for the purchase of goods and services. It also allows holder to transfer money above available balance in the account but only up to a certain limit.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 14, Problem 1.1P

To determine

Difference between debit and credit card.

Expert Solution & Answer

Explanation of Solution

Using a debit card is just like using cash because, in order to use debit card, one must have balance in the account so that he/she can clear the transaction made with the debit card. Without having balance in the bank account, one cannot use the debit card. On the other hand, credit card is just like loan that does not require minimum balance in the account in order to use the card. But the holder of the credit card has to pay back the money borrowed with the credit card.

Economics Concept Introduction

Introduction:

Debit card is a card that allow card holder to transfer money to other’s account or to pay for the purchase of goods and services. It also allows holder to transfer money available in the bank account.

Credit card is a card that allow card holder to transfer money or to pay for the purchase of goods and services. It also allows holder to transfer money above available balance in the account but only up to a certain limit.

Answer 6

Chapter 14, Problem 1.1P

To determine

Difference between debit and credit card.

Expert Solution & Answer

Explanation of Solution

Using a debit card is just like using cash because, in order to use debit card, one must have balance in the account so that he/she can clear the transaction made with the debit card. Without having balance in the bank account, one cannot use the debit card. On the other hand, credit card is just like loan that does not require minimum balance in the account in order to use the card. But the holder of the credit card has to pay back the money borrowed with the credit card.

Economics Concept Introduction

Introduction:

Debit card is a card that allow card holder to transfer money to other’s account or to pay for the purchase of goods and services. It also allows holder to transfer money available in the bank account.

Credit card is a card that allow card holder to transfer money or to pay for the purchase of goods and services. It also allows holder to transfer money above available balance in the account but only up to a certain limit.

Answer 7

Chapter 14, Problem 1.1P

To determine

Difference between debit and credit card.

Answer 8

Expert Solution & Answer

Explanation of Solution

Using a debit card is just like using cash because, in order to use debit card, one must have balance in the account so that he/she can clear the transaction made with the debit card. Without having balance in the bank account, one cannot use the debit card. On the other hand, credit card is just like loan that does not require minimum balance in the account in order to use the card. But the holder of the credit card has to pay back the money borrowed with the credit card.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Economics Concept Introduction

Introduction:

Debit card is a card that allow card holder to transfer money to other’s account or to pay for the purchase of goods and services. It also allows holder to transfer money available in the bank account.

Credit card is a card that allow card holder to transfer money or to pay for the purchase of goods and services. It also allows holder to transfer money above available balance in the account but only up to a certain limit.

Answer 12

Ch. 14 - Prob. 1.1P Ch. 14 - Prob. 1.2P Ch. 14 - Prob. 2.2P Ch. 14 - Prob. 2.3P Ch. 14 - Prob. 3.4P Ch. 14 - Prob. 3.5P Ch. 14 - Prob. 3.6P Ch. 14 - Prob. 3.7P Ch. 14 - Prob. 4.8P Ch. 14 - Prob. 4.9P

Difference between debit and credit card.

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Difference between debit and credit card.

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Chapter 14 Solutions