Sheng, Xuefeng2013-08-272013-08-2720042004http://hdl.handle.net/10393/25208Advertising plays an increasingly important role in the management of firms. It is essential for a manager to make proper decisions about how much the firm should spend on advertising and to know how the product price and market power are affected by theenImpacts of Advertising on Price Sensitivity , Market Power and Social Welfare