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With economics 3. Alex keeps his money in a bank Transactions Balances and removes cash after depositing each paycheck so that he can spend A

With economics

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3. Alex keeps his money in a bank Transactions Balances and removes cash after depositing each paycheck so that he can spend A money during the pay period. The graph of his demand for cash over B' Average Amount time is shown on the right. Is Alex's demand differentiable at ev- Income Periods Time ery point? Why or why not? Figure 11.3 The Transactions Demand for Money

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