On January 2, 1971, all cigarette advertising was banned on U.S. television and radio stations. Did this ban likely increase or decrease the profits of cigarette companies in 1971? Briefly explain
What will be an ideal response?
If advertising is a prisoners' dilemma, then a ban on advertising cigarettes on television likely increased the profits of cigarette companies following the advertising ban.
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If Project A has a cost of $2, and provides a benefit of $3, and Project B has a cost of $ 5 and provides a benefit of $8, which of the following statements is true?
A) The net benefit of Project A is $5. B) An individual can optimize by choosing Project B. C) Project A has a higher net benefit than Project B. D) A shift from Project A to Project B increases the net benefit by $1.
A movement from point C to point A in Figure 1.4 results in
A. A reallocation of resources from television production to smartphone production. B. More efficient production. C. A reallocation of resources from smartphone production to television production. D. Permanent unemployment of workers producing plasma televisions.