User Account

All Pages

Report and analyze the solution

Assignment Help Microeconomics
Reference no: EM13879545

You have just been hired as an advertising manager for a generic advertising program for dairy farmers, Dairy Management, Inc. (DMI). DMI wants to conduct generic advertising to increase the demand for milk. DMI decided to consider TV, radio, print, and outdoor advertising and wants you to determine how much money should be allo- cated for each type of media for the next month. You expect that one TV commercial will increase sales by 25,000 gallons; one radio commercial will increase sales by 7,000 gallons; one print advertisement will increase sales by 3,500 gallons; and one billboard will increase sales by 5,000 gallons. It costs $10,000 per TV commercial, $5,000 per radio commercial, $1,000 per print advertisement, and $3,500 per bill- board. Your boss tells you that you can't spend more than $500,000 on this project. Furthermore, the radio and TV stations tell you they have a combined maximum of 45 minutes for your commercials for the month

Each TV commercial takes 1 minute, and each radio commercial takes 0.5 minutes to air. The boss tells you that he doesn't want more than 25 TV commercials because he gets sick of watching the same thing over and over again. The objective is to find the combination of TV, radio, print, and billboard advertisements that maximizes milk sales. Solve this problem with Solver. Report and analyze the solution.

Reference no: EM13879545

Questions Cloud

Internet resources to research some possible design network : Internet resources to research some possible design network patterns
Write down the boolean expression for the lamp to light : State briefly what the function of interfaces is in relation to the different types of process signal and draw the logic circuit to represent the following Boolean expression using only NOR gates.
Prepare discussion and abstract for given research papers : Prepare the discussion and abstract for the following research papers- Working Memory and the Strategic Control of Attention in Older and Younger Adults.
Create a database using professional principles and standard : Create a database using professional principles and standards
Report and analyze the solution : Each TV commercial takes 1 minute, and each radio commercial takes 0.5 minutes to air. The boss tells you that he doesn't want more than 25 TV commercials because he gets sick of watching the same thing over and over again. The objective is to fin..
Evaluate one-tailed and two-tailed tests : Analyze use of regression, Apply regression to research scenarios, Generate hypotheses, Evaluate one-tailed and two-tailed tests and Implement correlation in SPSS
Create effective navigation for the application or site : Create effective navigation for the application or site
Explain the economic interpretation of the dual problem : A farmer has 5,000 acres of land, 1,000 hours of labor, and 2,000 hours of tractor time to grow two crops: corn and wheat. He expects that he can earn $250 per acre for corn and $200 per acre for wheat.
Discusses the team leadership model : This chapter discusses the team leadership model and the various leadership decisions associated with facilitating the success of a team. The author discusses the strengths and criticisms of the model as well as its application to business practic..

Reviews

Write a Review

Microeconomics Questions & Answers

  Being coerced into an alternative dispute resolution forum?

Which of the following is an issue with consumers being forced to give up their right to a trial and being coerced into an alternative dispute resolution forum?

  Explain problems related with using unemployment rate as

discuss the problems associated with using the unemployment rate as a gauge of labor market conditions. in your answer

  Write the justifications given in favor of more government

the role of governments in the economy is one of the most debated issues in economics. similarly one of the most

  Single monopolistic firm

A single monopolistic firm provides pick-up of recyclable goods (bottles, cans, paper, etc.) in the city

  Why concept of decentralization call a better description

Many people believe that suburbanization is a phenomenon that started to develop in the 1950s. If we examine land use patterns in the United States, why is the concept of decentralization call a better description of the process

  If the corporation employs the effective-interest method of

a corporation issued 600000 10 5-year bonds on january 1 2011 for 648666 which reflects an effective-interest rate of

  What is the relevance of the coase theorem

Some years ago, conservation groups paid cattlemen in the Western United States to move their herds away from wild buffalo herds so that the buffalo would have more feed and would not have to compete with the cattle. What is the relevance of the Coas..

  Find the total quantity produced

Find the total quantity produced and each firm's profit in equilibrium

  Shift of the aggregate demand and supply curve

Estimate whether each of the following would cause a shift of the aggregate demand curve, the aggregate supply curve, neither, or both.

  Should governments outlaw monopolistic competition

a. Explain the relationship between the law of diminishing marginal returns and the shape of a firm's marginal cost curve b. The long-run equilibrium for a perfectly competitive industry occurs when the firms are earning economic profits of zero.

  First ranked by level or real gdp per capita

If countries are first ranked by level or real GDP per capita, and then by the value of the Human Development Index, would you expect the ranking of countries to be similar or different? Explain

  Find the long-run equilibrium market price and quantity

a perfectly competitive constancy-cos industry has a market demand curve p50-17q.each firm has a u-shaped long run

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd