What is the advertising elasticity of demand

Reference no: EM131255133

The motor home industry consists of a small number of large firms. In 2003, producers of motor homes had an average advertising sales ratio of 1.8 percent. Assuming that the price elasticity of demand facing a typical motor home producer is 4, what is the advertising elasticity of demand facing a typical producer, under the assumption that each producer has chosen its price and advertising level to maximize profits

Reference no: EM131255133

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