Consider the following information about the effects of advertising expenditures on sales of sporting event tickets. You can either spend your advertising budget on TV, Radio, or Internet advertising, and the effects of those expenditures in terms of ticket sales are given in the table. Assume you have a budget of $1 million to spend on advertising and that you can choose from among these three sources (TV, Radio, Intemet). You may also assume that tickets are general admission and thus have the same price. Total Spent IE Ticket Sales Generated (number of tickets per year) TV Radio Internet $0 0 0 0 $100K 4750 950 5000 $200K 9000 l 800 6000 $300K 12750 2550 6500 $400K 16000 3200 6750 $500K 18750 3750 6950 $600K 21 000 4200 7050 $700K 22750 4550 7100 $800K 24000 4800 7130 $900K 24750 4950 7 150 $1 Million 25000 5000 7155 How would you allocate your $1 million media budget to maximize sales? Be specic. Do the activities of TV, Radio, and Internet advertising exhibit diminishing returns? Why or why not? Explain. i. To maximize sales, the rst $100K of your advertising budget should be spent on a. Radio b. TV c. Internet d. Any of the above