The price elasticity of demand for nursery products is -10. The advertising elasticity of demand is 0.4. Using the "Rule of Thumb for Advertising," the profit maximizing level of advertising will be set at ________ of sales
A) 0.25 percent
B) 0.4 percent
C) 4 percent
D) 40 percent
C
Economics
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Any point on the production possibilities curve illustrates:
a. minimum production combinations. b. maximum production combinations. c. economic growth. d. a nonfeasible production combination.
Economics
If MPPa/Pa > MPPb/Pb, then the proportions of these two inputs is optimal
a. True b. False Indicate whether the statement is true or false
Economics