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13 June, 12:29

When a firm advertises, it is attempting to: Move consumers along the existing demand curve. Shift the demand curve to the left. Decrease the marginal utility consumers receive from the product. Decrease the price elasticity of demand for the product.

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  1. 13 June, 12:46
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    Decrease the price elasticity of demand for the product.

    Explanation:

    Price elasticity of demand for a good measures the responsiveness of the quantity demanded for a good with any change in the price level of the good.

    The firm wants to lowers the value of price elasticity of demand by attempting to advertise, so that any change in the price level of the goods will have a less or no impact on the quantity demanded for the good.

    If the price elasticity of demand is higher, this indicates that any small change in the price level will have a larger impact on the quantity demanded and if the price elasticity of demand is lower, this indicates that any small change in the price level will have a less or no impact on the quantity demanded.
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