A price elasticity coefficient of 0.15 indicates that a one percent increase in ad expenditures increases volume by 15 percent.

Name: A price elasticity coefficient of 0.15 indicates that a one percent increase in ad expenditures increases volume by 15 percent.
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Quizplus · Accepted Answer

A price elasticity coefficient of 0.15 actually indicates that a one percent increase in price reduces the quantity demanded by 0.15 percent. It does not refer to ad expenditures and volume.

A Price Elasticity Coefficient of 0