Examples of information as facts include (select all that apply): TV program listings Stock pricesPizza recipeProtein folding instructionsMap directionsExamples of information as instructions include (select all that apply): TV program listingsStock pricesPizza recipeProtein folding instructionsMap directionsWhich one of the following statements is correct? Most information goods are physically excludable. Digital rights management is one way to deal with the problem of excludability. Experience goods are best sold to those who have not experienced them yet. Most information goods are not experience goods. The value of information is defined as:Value(best decision | informed) – Value(best decision | uninformed) Value(best decision | uninformed) – Value(best decision | informed) Value(best decision | informed) – Value(worst decision | informed) Value(worst decision | uninformed) – Value(worst decision | informed) Value(best decision) - Value(worst decision) Using information to add value to a product or purchasing experience, demand curve shift occurs… Up and to the left Up and to the right Down and to the left Down and to the right It does not shift at all The following are all examples of "freemium" models (select all that apply):Razors: Come with free bladesLinkedIn: Set up a career profile before paying for advanced featuresSpotify: New members can listen to 50 songs before choosing a subscription levelGoogle search: Search results provided by a search enginecom: An online dating platform that allows users to see photos, but pay to contact people Bundling is an effective strategy to capture market share when faced with competition. Why does this work?Competitors offer the same items at higher pricesTangible goods have high marginal costsIntangible goods have high marginal costsPeople purchase the bundle for key items they want, then don’t buy competing items because they already have themBy the Central Limit Theorem, willingness to pay gets harder to predict When Slack created purchase options for its project management software with Standard, Plus, and Enterprise versions, it applied what type of pricing? Two-sidedBundlingGoldilocksTyingFreemium Why is bundling typically less successful for tangible goods than it is for intangible goods? (select all that apply): Marginal costs (MC) are higherMC of items can exceed WTP (One should not include such items in a bundle)Items are more likely to be substitutesInspection paradoxMicropayments

Information can be classified into different types based on its characteristics and usage. Two such…

Answered: Examples of information as facts…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Examples of information as facts include (select all that apply): 
1. TV program listings
2. Stock prices
3. Pizza recipe
4. Protein folding instructions
5. Map directions
Examples of information as instructions include (select all that apply): 
1. TV program listings
2. Stock prices
3. Pizza recipe
4. Protein folding instructions
5. Map directions
Which one of the following statements is correct?
1. Most information goods are physically excludable. 
2. Digital rights management is one way to deal with the problem of excludability.
3. Experience goods are best sold to those who have not experienced them yet.
4. Most information goods are not experience goods.
The value of information is defined as:
1. Value(best decision | informed) – Value(best decision | uninformed)
2. Value(best decision | uninformed) – Value(best decision | informed)
3. Value(best decision | informed) – Value(worst decision | informed)
4. Value(worst decision | uninformed) – Value(worst decision | informed)
5. Value(best decision) - Value(worst decision)

Using information to add value to a product or purchasing experience, demand curve shift occurs…

Up and to the left
Up and to the right
Down and to the left
Down and to the right
It does not shift at all

The following are all examples of "freemium" models (select all that apply):

Razors: Come with free blades
LinkedIn: Set up a career profile before paying for advanced features
Spotify: New members can listen to 50 songs before choosing a subscription level
Google search: Search results provided by a search engine
com: An online dating platform that allows users to see photos, but pay to contact people
Bundling is an effective strategy to capture market share when faced with competition. Why does this work?
1. Competitors offer the same items at higher prices
2. Tangible goods have high marginal costs
3. Intangible goods have high marginal costs
4. People purchase the bundle for key items they want, then don’t buy competing items because they already have them
5. By the Central Limit Theorem, willingness to pay gets harder to predict

When Slack created purchase options for its project management software with Standard, Plus, and Enterprise versions, it applied what type of pricing?

Two-sided
Bundling
Goldilocks
Tying
Freemium

Why is bundling typically less successful for tangible goods than it is for intangible goods? (select all that apply):

Marginal costs (MC) are higher
MC of items can exceed WTP (One should not include such items in a bundle)
Items are more likely to be substitutes
Inspection paradox
Micropayments

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