A monopolist estimated that the own-price elasticity of, Business Economics

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A monopolist estimated that the own-price elasticity of

A monopolist estimated that the own-price elasticity of demand for its product is -4.5 and its advertising elasticity of demand is 1.5. Assuming these elasticities are constant, what fraction of the firm's revenues should the firm "reinvest" in advertising to maximize profits?

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Business Economics: A monopolist estimated that the own-price elasticity of

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