1. (12 points/ 3 points each) Henry the 5th has S5,000 to spend on advertisement
ID: 1160767 • Letter: 1
Question
1. (12 points/ 3 points each) Henry the 5th has S5,000 to spend on advertisements for his new shoe line. There are two magazines he can choose from to place his ads, the Wall Street Journal and the Economist. His marketing team has found that the type of consumers that are interested in his shoe line are grad students from MIT and hip-hop artists. His team has also found the following, . Ads in the Wall Street Journal cost $500 while the ads in the Economist cost . Each ad in the Wall Street Journal will be read by 1,000 grad students and 300 . Each ad in the Economist will be read by 300 grad students and 250 hip-hop . No one reads more than one ad and nobody who reads on magazine reads $250 each. hip-hop artists. artists. another (a) If Henry spends his entire advertising budget on the Wall Street Journal, his ad (b) If Henry spends his entire advertising budget on the Economist, his ad will be (e) Suppose he spent half of his advertising budget on each publication. Then his (d) Draw the budget line with grad student views on the x-axis and hip hop views will be read by grad students and hip-bop artists. read bygrad students and_ hip-hop artists ad will be read by-grad students ar on the x-axis. dhip-hop artists.Explanation / Answer
(a). If Henry spends his entire advertising budget on the Wall Street Journal, his ad will be read by 10,000 grad students and 3,000 hip-hop artists.
(b). If Henry spends his entire advertising budget on the Economist, his ad will be read by 6,000 grad students and 5,000 hip-hop artists.
(c).
Wall Street Journal :
(i)- Suppose he spent half of his advertising budget on each publication. Then his ad will be read by 5,000 grad students and 1,500 hip-hop artists.
Economist :
(ii)- Suppose he spent half of his advertising budget on each publication. Then his ad will be read by 3,000 grad students and 2,500 hip-hop artists.
Note: The more information required from (d) point in the question.
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