The goal is to identify and apply cost structure concepts from Havens & Lotz chapter 5.
– Listen to Planet Money podcast(https://www.npr.org/transcripts/421874671). Episode 288: “Manufacturing The Song of the Summer.” July 2011.
-Transcript: https://www.npr.org/templates/transcript/transcript.php?storyId=421874671
upload your individual response to the following prompts:
1. Identify and briefly define the four types of costs from Havens and Lotz Ch 5 （in the attachment）
2. Is the Song of the Summer podcast about the production of a “single” or “continuous” media good? Who pays the costs of making the Rihanna record?
3. Using the rough figures provided in the podcast, create an accounting statement of all the costs reported for Rihanna’s “Loud” album (not just the single “Man Down”).
-Calculate the total reported spending for each category (e.g. development costs, etc.)
-What is the total of sunk costs reported in the podcast?
Note 1: Do not estimate anything. Use only the reported numbers in the podcast.
Note 2: There is one moment in the podcast where the host Zoe Chase uses a term from the book incorrectly. Don’t be misled!
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