Under the guidance of a good manager a monopolistic ally, Ask an Expert

Economics

Under the guidance of a good manager, a monopolistic ally competitive firm spends an optimal amount of its revenues on advertising. Last month the firm spent $2,500 of its 510,000 revenues on advertising. If its advertising elasticity was 0.5, what was this firm's price elasticity demand? Docs this make the firm's demand elastic, unit elastic or inelastic?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91838580

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