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You are the media planner for an advertising agency, responsible for the placement of your client's ads in various media. Your client's product is a "smart" robotic lawnmower (Robo-mower) that one can easily "program" to cut a home lawn. Robo-mower will only cut grass within its programmed area and it will avoid flower beds, rocks, sidewalks, etc., while you sit in the hammock, enjoying the summer! An emergency "cut-off" switch brings it to a full stop in one-quarter of a second. Select four (4) advertising media that you would consider for an ad placement and indicate THREE (3) advantages and THREE (3) disadvantages of those that you select for advertising the Robo-mow
Describe how price regulation may improve the performance of monopolies. In your answer distinguish between socially optimal pricing and fair return pricing.
What is the difference between average total cost and average variable cost
When thinking about the theory of the firm, shirking, and principle-agent problems, we can find analogous situations in our personal lives. Make a Power Point presentation (for sharing with the class) two personal situations to illuminate this con..
Are there more or fewer banks today than before the start of the financial crisis of 2007-2008 Why are the lines between the categories of financial firms even more blurred than they were before the crisis
When Wal-Mart locates in a smaller town, often the local retailers (e.g., hardware, clothing, and appliance stores) are unable to successfully compete and are driven out of business.
1. Why does borrowing constitute negative saving 2. Given that a negative flow of annual national saving implies that residents of the United States are net borrowers, who must be funding this borrowing each year
Distinguish between explicit and implicit costs, giving examples of each. Differentiate between accounting profit, normal profit and economic profit.
Assume that the government proposes to cut taxes while maintaining current level of government expenditures. To finance this deficit, it may either
Consider some of products which are widely advertised on television. By what type of firm is each produced the perfectly competitive firm, an oligopolistic firm, or another kind of firm? How many major products can you think of that are not advert..
Distinguish between explicit & implicit costs, giving example of each and what are the explicit & implicit costs of attending college?? Why does the economist classify normal profit as a cost?
What is the formula for calculating the unemployment rate?
Compare and contrast each market structure. Make sure to discuss the differences in the productive and allocative efficiency when comparing and contrasting.
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