Consider the elasticities reported in the table below. The easiest way to think about the advertising elasticities
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Consider the elasticities reported in the table below. The easiest way to think about the advertising elasticities is the following: Total demand consists of demand today and tomorrow. The short-run elasticity is the effect that advertising today has on demand today whereas the long-run elasticity is the effect that advertising today has on demand tomorrow. In which industries do you expect advertising intensity to be high? Distinguish between short run and long run.
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Based on the table we can expect advertising intensity to be high in the following industries Short...View the full answer
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Related Book For 
Industrial Organization Markets and Strategies
ISBN: 978-1107069978
2nd edition
Authors: Paul Belleflamme, Martin Peitz
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