a)
To explain: Whether the advertisement explaining the benefits of aspirin is beneficial for consumers.
a)
Explanation of Solution
Yes, the advertisements explaining the benefits of aspirin will be very useful from the standpoint of consumers. As there are times when a patient needs a medicine but is not aware of the benefits and side effects of that medicine. So, the advertisement explaining the benefits that the patient will derive after consuming this medicine would be of great help to the patient, and the patient can take this medicine in case of need without consulting a doctor and can get relief from the pain.
Introduction:
Advertisements are defined as a piece of information on television, in a newspaper, or a picture on a wall, etc., that persuades people to purchase something or provides them with interest in a new job.
b)
To explain: Whether the advertisement explaining the benefits of bayer aspirin is beneficial for consumers.
b)
Explanation of Solution
Yes, the advertisements explaining the benefits of bayer aspirin will be very useful from the standpoint of consumers. As there are times when a patient needs a medicine but is not aware of the benefits and side effects of that medicine. So, the advertisement explaining the benefits that the patient will derive after consuming this medicine would be of great help to the patient and the patient can take this medicine in case of need without consulting a doctor and can get relieved from the pain. Advertisement will help the consumer to be aware of the possible side effects also so that the consumer can take right decision for him and in case of confusion the consumer can always consult a doctor.
Introduction:
Advertisements are defined as a piece of information on television, in a newspaper, or a picture on a wall, etc. that persuades people to purchase something or provides them with interest in a new job.
c)
To explain: Whether the advertisement describing for how long a plumber and electrician has been in business.
c)
Explanation of Solution
Yes, this advertisement will be extremely beneficial as the consumer can decide from a list of plumbers and electricians the one which is best for the nature of work they want to get accomplished. This will save their time and effort in deciding whom to call for work.
So, this advertisement will be of great help to those who have a huge work to get done.
Introduction:
Advertisements are defined as a piece of information on television, in a newspaper, or a picture on a wall, etc. that persuades people to purchase something or provides them with interest in a new job.
Want to see more full solutions like this?
Chapter 68 Solutions
Krugman's Economics For The Ap® Course
- Thanks in advance!arrow_forwardI need help figuring this out. I'm pretty sure this is correct?If Zambia is open to international trade in oranges without any restrictions, it will import 180 tons of oranges.I can't figure these two out: 1) Suppose the Zambian government wants to reduce imports to exactly 60 tons of oranges to help domestic producers. A tariff of ???? per ton will achieve this. 2) A tariff set at this level would raise ????in revenue for the Zambian government.arrow_forward16:10 ← BEC 3701 - Assignments-... KWAME NKRUMAH UNIVERSITY TEACHING FOR EXCELLENCE SCHOOL OF BUSINESS STUDIES DEPARTMENT OF ECONOMICS AND FINANCE ADVANCED MICRO-ECONOMICS (BEC 3701) Assignments INSTRUCTIONS: Check instructions below: LTE 1) Let u(q1,q2) = ln q₁ + q2 be the (direct) utility function, where q₁ and q2the two goods. Denote P₁ and P2 as the prices of those two goods and let M be per period money income. Derive each of the following: a) the ordinary or Marshallian demand functions q₁ = d₂ (P₁, P₂, M) for i = 1,2 [3 Marks] b) the compensated or Hicksian demand functions q₁ = h₂ (P₁, P2, M) for i = 1,2 [3 Marks] c) the Indirect Utility Function uº = v(P₁, P2, M) [3 Marks] d) the Expenditure Function E(P1, P2, U°) [3 Marks] e) Draw a diagram of the solution. There should be two graphs, one above the other; the first containing the indifference curves and budget constraint that characterize the solution to the consumer's choice problem; the second characterizing the demand…arrow_forward
- How would you answer the question in the News Wire “Future Living Standards”? Why?arrow_forwardal Problems (v) T (ix) F 1. Out of total number of 2807 women, who were interviewed for employment in a textile factory, 912 were from textile areas and the rest from non-textile areas. Amongst the married women, who belonged to textile areas, 347 were having some work experience and 173 did not have work experience, while for non-textile areas the corresponding figures were 199 and 670 respectively. The total number of women having no experience was 1841 of whom 311 resided in textile areas. Of the total number of women, 1418 were unmarried and of these the number of women having experience in the textile and non-textile areas was 254 and 166 respectively. Tabulate the above information. [CA. (Foundation), May 2000 Exactly (14) of the total employees of a sugar mill were these were married and one-halfarrow_forwardHow did Jennifer Lopez use free enterprise to become successful ?arrow_forward
- An actuary analyzes a company’s annual personal auto claims, M and annual commercialauto claims, N . The analysis reveals that V ar(M ) = 1600, V ar(N ) = 900, and thecorrelation between M and N is ρ = 0.64. Compute V ar(M + N ).arrow_forwardDon't used hand raitingarrow_forwardAnswer in step by step with explanation. Don't use Ai.arrow_forward
- Use the figure below to answer the following question. Let I represent Income when healthy, let I represent income when ill. Let E [I] represent expected income for a given probability (p) of falling ill. Utility у в ULI income Is есте IM The actuarially fair & partial contract is represented by Point X × OB A Yarrow_forwardSuppose that there is a 25% chance Riju is injured and earns $180,000, and a 75% chance she stays healthy and will earn $900,000. Suppose further that her utility function is the following: U = (Income) ³. Riju's utility if she earns $180,000 is _ and her utility if she earns $900,000 is. X 56.46; 169.38 56.46; 96.55 96.55; 56.46 40.00; 200.00 169.38; 56.46arrow_forwardUse the figure below to answer the following question. Let là represent Income when healthy, let Is represent income when ill. Let E[I], represent expected income for a given probability (p) of falling ill. Utility & B естве IH S Point D represents ☑ actuarially fair & full contract actuarially fair & partial contract O actuarially unfair & full contract uninsurance incomearrow_forward
- Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSONEngineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
- Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage LearningManagerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage LearningManagerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education