Consider firms operating in an industry where the own price elasticity of demand is -5.4 and its
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Consider firms operating in an industry where the own price elasticity of demand is -5.4 and its advertising elasticity of demand is 0.18. If the firm's revenues are $60,000, what is its profit-maximizing level of advertising?
0.333.
2,000
30
None of the answers are correct.
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