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1. A monopolist estimated that the own-price elasticity of demand for its product is -4.5 and its advertising elasticity of demand is 2. Assuming these

1. A monopolist estimated that the own-price elasticity of demand for its product is -4.5 and its advertising elasticity of demand is 2. Assuming these elasticities are constant, what fraction of the firm's revenues should the firm "reinvest" in advertising to maximize profits? A. 22.22% B. 33.33% C. 44.44% D 66.67%

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