On Tait's First Day at the Lea & Hunt Ad

question 81

Multiple Choice

On Tait's first day at the Lea & Hunt Ad Agency,he delivered a half-page color ad for the December production of "Miracle on 34^th Street" by the Cartersville community theater to the office of the "Georgia Backroads" magazine.The ad is exactly the size it will be when run in the monthly publication.All the magazine's printer has to do is make plates from the material Tait took to the publication.In other words,the ad he delivered was:

• A)a storyboard.
• B)print-primed.
• C)orthographic.
• D)a dupe.
• E)camera-ready art.

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Definitions:

Profit-maximizing Price

The price level at which a company can sell its product or service to maximize its profit, considering cost, demand, and competition.

Economic Profits

The excess of total revenue over total cost, including both explicit and implicit costs, reflecting the true profitability of a business.

Marginal-cost Pricing

A pricing strategy where the price of a product is set equal to the additional cost of producing one extra unit of output.

Productive Efficiency

A state where an economy or firm produces goods or services at the lowest possible cost, using resources in the best possible manner without waste.