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Several Years Ago the National Association of Broadcasters Imposed Restrictions

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Several years ago the National Association of Broadcasters imposed restrictions on the amount of nonprogram material (commercials)that could be aired during children's television shows,effectively reducing the quantity of advertising allowed during children's viewing hours by 33 percent.Within four months,the price of a minute of advertising on network television increased by roughly 14 percent.What impact do you think this had on the revenues of the networks?

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The own price elasticity of demand for a...

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