I am not a big fan of using advertising in applications, because if your market share is already large enough, the money you receive will be tiny compared to the amount you annoy your users.
I prefer the model of creating a basic application with all the basic functions, and then adding additional functions to the paid application and charging for it (of course, using the android library project for sharing the main part of the code). This way, people who use your application and how it can support you by paying for it, and then get a bonus of additional features.
( : - , , )