Question
Many firms under monopolistic competition set their advertising budgets at a fixed percentage of their anticipated sales. Does this mean that these firms behave in
Many firms under monopolistic competition set their advertising budgets at a fixed percentage of their anticipated sales. Does this mean that these firms behave in a non-maximizing manner? Why?
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Macroeconomics
Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty
1st Edition
978-0132109994, 0132109999
