Answer to Question #98013 in Microeconomics for Michael Owusu-Asumeng

Answer to Question #98013 in Microeconomics for Michael Owusu-Asumeng

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Question #98013

the arc advertising elasticity is 1.5 as advertising expenditure increases from $10 to $12 million. if demand is 50 at an advertising expenditure of $12 million, what will be the demang at an advertising expenditure of $10 million?

Expert’s answer

if expenditure of $10 million, demand is 38.10

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