There are over 5000 banks in the united states-more than 10, Ask an Expert

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There are over 5,000 banks in the United States-more than 10 times the number per person than in other industrialized countries. A recent study suggests that the long-run average cost curve for an individual bank is relatively flat. If Congress took steps to consolidate banks, thereby reducing the total number to 2,500, what would you expect to happen to costs within the banking industry? Explain.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9528025

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