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Scenario 6-2 El Sol Sunglasses Were Designed by an Avant-Garde Artist.She Said

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Scenario 6-2
El Sol sunglasses were designed by an avant-garde artist.She said there were no sunglasses out there that she would wear, so she had to design her own.Her sunglasses were worn by a whacked-out bad guy in a blockbuster movie and, because of this, have acquired a cult following among young teens.Print advertisements are visually sparse-nothing more than a still shot from the movie and a logo for the brand.Eyewake sunglasses were designed by an optician after he realized that conventional sunglasses allowed in certain types of light that promoted eye fatigue.He made 1,000 of his sunglasses and gave 100 of them away to friends and acquaintances.After trying them out for awhile, several of them told him that they really liked them when they had to drive for extended lengths of time.He placed an ad in the back of a tourism magazine, extolling the safety benefit of driving with eyes that weren't fatigued.He promptly sold all of his remaining glasses.Kushyspecs sunglasses were developed after research revealed that a small group of people didn't like wearing sunglasses because most sunglasses left pinch marks on their noses.The company that performed the research developed sunglasses with a soft, cushiony nose piece.Advertisements for Kushyspecs feature the headline "The mark of a good pair of sunglasses is no mark at all."
-(Scenario 6-2) One element that all three of these ad campaigns have in common is that they are all

Understand the role of property rights in effective market functioning and their impact on market outcomes.

Describe scenarios where government intervention affects surplus distribution and market efficiency.

Calculate changes in producer surplus with varying market prices and quantities.

Recognize the conditions for market efficiency and the potential effects of deviations from equilibrium.

Definitions:

Observational Learning

A learning process through watching others, retaining the information, and later replicating the behaviors that were observed.

Models

Representations, often simplified or idealized, used to explain, predict, or simulate complex systems or behaviors.

Real-world Concerns

Issues or problems that affect individuals, communities, or societies in practical, everyday life rather than theoretical contexts.

Negative Reinforcement

A behavioral principle where the removal of an unpleasant stimulus following a behavior makes the behavior more likely to occur in the future.