Illustrate what elasticity of demand curve facing industry

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Q. When advertising expenditure is increased (assuming successful advertising), which of total and average (cost and revenue) curves shift their positions? Elucidate direction of shift. As an industry moves from being a monopoly to a monopolistically competitive one (due to entry of new competitors as monopoly's patents expire, for example), Illustrate what happens to elasticity of demand curve facing industry? Why

Reference no: EM1367797

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