February 27, 2017

Homework Help: MicroEconomics

Posted by Adam on Thursday, April 2, 2009 at 4:06pm.

If Budweiser, Miller and Coors, who together produce 80% of all beer consumed in the US, each spend well over $500 million a year on television advertising campaigns, promoting their beer brands. Would these firms welcome congressional legislation which restricted the amount that any one firm could spend on advertising to $5 million yearly, and thereby allowed them all to reduce their costs dramatically without fear of losing ground to each other?

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