Leviâs has an advertising slogan: âQuality never goes out of style
Leviâs has an advertising slogan: âQuality never goes out of style.â Consumers can buy other kinds of jeans, including off-brands. The manufacturers of off-brand, or generic, jeans do not advertise. Assume that the average total cost of producing Leviâs and generic jeans is the same.Create a graph showing the price (labeled as P1) that Leviâs changes. Also, identify the markup.How does Leviâs advertising affect their profits?Do Leviâs or the generic producers have a stronger incentive to maintain quality control? Why?
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