Role of advertising for marketplace

Assignment Help Microeconomics
Reference no: EM1370561

In the early 1980's just as serious health effects were being noted regarding sugar consumption, Kellogg's changed the name of Sugar Pops to Corn Pops (the sugar content didn't change) and the name of Sugar Flakes to Frosted Flakes (still sugar content remained the same); General Mills produces two cereals (Total and Wheaties) that are identical in content as two different cereals (one for the healthy and one for the athletic) with different prices to different consumers. This begs the question about the role of advertising in markets. While economists freely admit that advertising that earn millions for firms, economists often view advertising as wasteful since it does very little to inform consumers. Think about that last 5 ads you have seen (TV, radio, internet, subway) and discuss EACH what was the role of the advertising for the marketplace.

Reference no: EM1370561

Questions Cloud

Should social security and health care : Should social security and health care be left to individuals as their own expense - Government failure occurs when intervention fails to improve, or even worsens economic outcomes.
Effect of a fall in consumption expenditure on real gdp : For months, beleaguered American customers have defied expert forecasts that they would soon succumb to pressures of falling home prices, fewer jobs and shrinking paychecks.
Examples of monopoly market : Give at least two examples of a perfectly competitive market and explain what characteristics led you to that decision. Second, give at least two examples of a monopoly market and explain what characteristics led you to that decision.
Draw potential network architecture of data network : Draw the potential network architecture of the data network for secondary campus to main campus of university (Detail and describe the function of each component in the network.
Role of advertising for marketplace : In the early 1980's just as serious health effects were being noted regarding sugar consumption, Kellogg's changed the name of Sugar Pops to Corn Pops (the sugar content didn't change) and the name of Sugar Flakes to Frosted Flakes (still sugar co..
Write program to input series of hourly temperatures : Create and write a c++ program which inputs series of 24 hourly temperatures from file, and outputs bar chart (using stars) of temperatures for the day.
Any aspect of business in germany : Write paragraphs on any aspect of business in Germany and write on at least subjects dealing with aspects of business in Germany.
Typical pattern of saving for an individual : According to the life-cycle hypothesis, determine the typical pattern of saving for an individual over his or her lifetime?
Non-monopolized product-service : Assume monopolizing a service or product of your choice. Discuss how you would go about setting prices for your product or service.

Reviews

Write a Review

 

Microeconomics Questions & Answers

  Determining dollar amount of opportunity cost

When Burton Denson graduated with honors from the American Trucking Academy, his father gave him a $350,000 tractor-trailer rig. Recently, Burton was boasting to some fellow truckers that his revenues were typically $25,000 per month

  Demand supply-equilibrium wage

The government decides to tax cookbooks because they feel that they encourage overeating and can lead to health issues, like obesity and heart disease. Answer the following: in 600-800 words

  Computing marginal costs with excel

Using the given table, find out the quantity where MC = ATC. Find out the quantity where ATC is at its minimum. Find out the quantity that is the most efficient operating point for the firm.

  Production possibilities curve-free markets

Pick a social problem where free markets aren't allowed to function and explain how free market features could be introduced to aid alleviate the problem.

  Decision to produce or shut down

Say half of the cost of producing wheat is rental cost of land (a fixed cost) and half is cost of labor and machines (a variable cost). If the average total cost of producing wheat is $8 and price of wheat is $6, what would advise the farmer to do..

  Determining average cost-marginal cost-average variable cost

Compute the Average cost, Marginal cost, Average Variable Cost and the output level at which Average Variable Cost is at a minimum.

  Underestimating actual costs

Assume the military bureaucracy consistently misinforms Congress on total costs of producing military hardware. Suppose that it underestimates the actual costs and that the political representatives believe these estimates.

  Determining cournot duopoly and pricing strategy

Assume that in the perfectly competitive industry the equilibrium industry quantity is 10,000 units. Assume that the monopoly output is 5,000. For a 2-firm Cournot Oligopoly (N =2) known as a duopoly, what is the likely Cournot QUANTITY for the in..

  Long-run market adjustment-perfect competition

Firm Z, operating in a perfectly competitive market, can sell as much or as little as it wants of a good at a price of $16 per unit. Its cost function is C=50+4Q+2Q^2. The associated marginal cost is MC=4+4Q, and the point of minimum average cost ..

  Analyzing demand function

Management at the Johnston Corporation estimates a demand function for its lawnmower line to be:Explain the coefficients of each explanatory variable.

  Disadvantages-forming strategic alliance

Describe the issues, challenges, or disadvantages to forming the strategic alliance (focus on supply chain). Provide an example that is not included in attached reference.

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!

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