Different types of determinants of advertisement elasticity
What are the different types of determinants of advertisement elasticity?
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There are different determinants of advertisement elasticity are as given here:
1. Kind of commodity: elasticity will be higher for new product, luxury and growing product.
2. Market share: Well-built the market share of the firm lower will be promotional elasticity.
3. Rival’s reaction: when the rivals react to rise in firm’s advertisement by raising their own advertisement expenditure, this will decrease the advertisement elasticity of the firm.
4. State of economy: when economic conditions are good, the consumers are more probably to respond to the advertisement of the firm.
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When a firm is a price taker into the labor market and the wage is $80 daily, the marginal resource cost incurred while hiring 20 more workers daily is: (w) $80. (x) $1600. (y) $800. (z) $400. Discover Q & A Leading Solution Library Avail More Than 1438029 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1925412 Asked 3,689 Active Tutors 1438029 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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