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Suppose you are selling both a men's and women's version of a new bicycle. Through market research, you have determined 1) that the demand curve for the men's product is more inelastic than the demand curve for the women's product, and 2) that both products have approximately the same advertising elasticity of demand. As a percentage of sales, you should advertise the men's bicycles more than the women's bicycles.
This document contains various important questions and their appropriate answers in the subject field of Economics.
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