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lets assume that John is operating small business is the only one offering the service you sell and so operate as a monopolist. You are
lets assume that John is operating small business is the only one offering the service you sell and so operate as a monopolist. You are considering spending on advertising to increase the demand for your service. Use the appropriate diagram(s) to investigate potential changes in profits, prices and quantity from a change in demand caused by the advertising campaign. Using a diagram, characterise how much you would be willing to spend on advertising given a change in demand.
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