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As of December 31, 2010, the assets listed on the balance sheet of Bank A were $1.5 million in cash reserves and $6 million in outstanding loans to its customers.Its liabilities totaled $6.5 million in checking deposits.What was the bank's net worth on that date?
Price Elasticity
A gauge of how sensitively the demand or supply for a product reacts to alterations in its price.
Midpoint Method
A technique used to calculate the percentage change in a variable by dividing the change by the average value of the initial and final values.
Supply
The total amount of a product or service that is available for purchase at any given price level.
Quantity Demanded
The aggregate quantity of a product or service that customers are ready and able to buy at a specific price point within a certain timeframe.
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