Create a Class Named Account That Contains an Integer Field

question 64

Essay

Create a class named Account that contains an integer field for an account number and a double field for an account balance. The class contains a constructor that requires an account number and sets the balance to 0.0. Include a set() method for the balance, a get() method for the account number, and a get() method for the account balance. Create two subclasses named Checking and Savings. Within the Checking class, the get() method should display the String "Checking Account Information", the account number, and the balance. Within the Savings class, add a field to hold the interest rate, and require the Savings constructor to accept an argument for the value of the interest rate. The Savings get() method displays the String "Savings Account Information", the account number, the balance, and the interest.

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Definitions:

Profit-maximizing Output

The maximum profit attainment point for a company occurs when the marginal cost matches the marginal revenue, indicating the optimum production level.

Purely Competitive Firm

A firm operating in a market where there are many sellers and buyers, the products are homogenous, and there are no barriers to entry or exit, leading to market prices being determined by supply and demand.

Short Run

A period of time during which at least one of a firm's inputs is fixed, limiting its ability to adjust to changes in demand or production costs.

Revenue and Cost Structure

The composition of a firm's income (revenue) versus its expenses (cost), impacting its profitability and financial strategy.