The arc advertising elasticity is 1.5 as advertising expenditures of Rs. 12 Lakhs, what will demand be at an advertising expenditure of Rs. 10 lakhs?
1
Expert's answer
2018-02-20T08:54:08-0500
A / PQ = - (Ea / Ep), where Ea / Ep = 1.5 and PQ changes from 12 to 10, that`s why A will be A = 10 * 1.5 = 15, but firstly it will be A =18, when advertising expenditures of Rs. 12 Lakhs. So demand will be 18
Numbers and figures are an essential part of our world, necessary for almost everything we do every day. As important…
APPROVED BY CLIENTS
"assignmentexpert.com" is professional group of people in Math subjects! They did assignments in very high level of mathematical modelling in the best quality. Thanks a lot
Comments
Leave a comment