Increasing the price of products in the marketplace.

After you've completed this week's reading and lecture material, please take this quiz. Be sure to read each
question carefully and answer all parts of the question in order to earn full credit.

1. During part 2 of this week's lecture, you were asked to calculate your total expenditure on media based on
   the itemized list. What was the number you calculated?
2. Did this number surprise you? Why or why not? How did it compare to the number you guessed in part one
   (i.e., the number you guessed without itemizing and calculating)?
3. Would you be willing to pay for your media use without advertising? How much would you pay?
4. According to arguments made in your text and/or lectures, please explain at least one way that advertising
   may reduce the price of products in the marketplace.
5. According to arguments made in your text and/or lectures, please explain at least one way that advertising
   may increase the price of products in the marketplace.
6. According to this week's lecture, who are the four interrelated players in the relationship between advertising
   and entertainment media content?
   readings:
   Sheehan, K. (2014). Controversies in Contemporary Advertising (2nd Edition). Thousand Oaks, CA: Sage
   Publications Inc.

Sample Solution