7-21. Billboard advertising in Times Square has become so popular that space has already been sold for

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7-21. Billboard advertising in Times Square has become so popular that space has already been sold for the next 10 years. Coca-Cola, General Motors, Toshiba, Prudential, NBC, Budweiser, and The New York Times pay rates in excess of $100,000 per month to hold these spaces. Why would companies pay so much for outdoor advertising? What are the advantages and disadvantages of purchasing billboards at Times Square?

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