George Foreman was a professional boxer who made a comeback by endorsing grills. Foreman does not own the company that makes the grills, but he became
From the book; Reading the World, Ideas That Matter, Michael Austin 2nd Ed.
July 5, 2020Reflection on my relationship with the written word
July 5, 2020George Foreman was a professional boxer who made a comeback by endorsing grills. Foreman does not own the company that makes the grills, but he became
George Foreman was a professional boxer who made a comeback by endorsing grills. Foreman does not own the company that makes the grills, but he became the face of the brand. At first, people were not certain whether he was an expert on grills or fat-free cooking, but Foreman soon became thought of as the expert on this product and this type of cooking. Think of the concept of utility and how Foreman’s role as a celebrity endorser affects the marginal utility of these grill products. Answer the following:
- How do people’s budget, income, and substitution effects fit in?
- How do you think this influences the demand curve for indoor grill products?
- Are these choices made rationally?
