The elasticity of demand for a firmrsquos product is -4 and, Business Economics

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The elasticity of demand for a firmrsquos product is -4 and

The elasticity of demand for a firm’s product is -4 and its advertising elasticity of demand is 0.12.

a. Determine the firm’s optimal advertising-to-sales ratio.

b. If the firm’s revenues are $70,000, what is its profit-maximizing level of advertising?

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Business Economics: The elasticity of demand for a firmrsquos product is -4 and

Reference No:- TGS01470910

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Ask an Expert for Answer!!

Business Economics: The elasticity of demand for a firmrsquos product is -4 and

Reference No:- TGS01470910

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