hand written only please. difficult to follow with typing

3. Suppose you are the owner of a blue jeans company. A market research firm has estimated that the own price elasticity of demand for your product is approximately -1.7. Your marketing department proposed four advertising campaigns, and estimates you company's sales and the advertising costs of each, shown in the table below. Advertising costs $0 $5,000 $10,000 $15,000 $20,000 Sales $100,000 $120,000 $130,000 $138,000 $143,000 What level of advertising should your firm engage in? Why? Explain your answer (Hint: relate it back to Lecture 11)