With ATMs, It Is Possible to Retrieve Cash from the Bank

question 22

Multiple Choice

With ATMs, it is possible to retrieve cash from the bank at any time. One hundred years ago, one could only get cash from the bank during business hours, say, 9 am to 3 pm. The present availability of 24-hour service has arisen because:

• A)flexibility was not valued 100 years ago.
• B)it was impossible to provide 24-hour service 100 years ago.
• C)the cost of providing 24-hour service is much lower today.
• D)government forced banks to become more convenient.

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Definitions:

Best Response

A strategy that produces the most favorable outcome for a player, given other players' strategies in a game.

Pricing High

A strategy where goods or services are sold at a higher price point to signal quality, maximize profit margins, or cover higher production costs.

Ice Cream Trucks

Mobile trucks that sell ice cream and sometimes other frozen treats, often heard before seen due to their distinctive music.

Nash Equilibrium

Nash Equilibrium is a concept within game theory where no participant can gain by unilaterally changing their strategy if the strategies of the others remain unchanged.