audioecon   Smart listening for students of economics

Link: http://www.npr.org/blogs/money/2011/07/11/137705590/the-friday-podcast-manufacturing-the-song-of-the-summer

Summary: Discussion of the development and production process for Rihanna’s song “Man Down”

Original air date: July 8, 2012

Length: 26:25

Main story content begins: 2:04

Discussion Prompt: This podcast discusses a variety of production costs. Give examples of specific types or categories of production costs that you identify in the podcast.  Then pick one of these costs and discuss how a firm (such as a recording studio) might benefit from minimizing or expanding this production cost item.

In your second post later in the week, review the ideas of your peers and comment on their accuracy / expand on their ideas / give additional examples of that type of production cost, or give an example of a type of cost not discussed in posts so far, but which relates to the recording industry.

Follow-up Prompt: Can you take any of the costs you or your peers identified from the podcast and categorize them as: fixed vs. variable costs, as implicit vs. explicit costs, or even marginal costs? Explain your reasoning.