It's not the size of the ad thats important. It's what you say in the ad. Having a larger ad gives you more space to explain to people why they should choose your company instead of the another one. Most people looking in the yellow pages have already made a decision to purchase something and are now looking for someone to purchase it from. The better you can explain the benifits they will receive by choosing your company the more likely they will call. Larger ads give you the space to do this. I was talking with a friend of mine about this and he said when he uses the yellow pages he will call the smaller ads because he figures their prices will be lower because they're not spending alot of money on advertising. He's more interested in getting a low price.
I believe people calling the smaller ads are more concerned about a low price and people calling the larger ads are more concerned about quality service and getting the job done quickly. Price is less of a concern.
I believe the larger ads will get you more customers where price is secondary to customer service and the smaller ads will get you more customers where getting the lowest price is their main objective.
I would rather have customers that are more concerned about quality service than low price.
Here's a link to some good information on yellow page advertising.
http://www.ypcommando.com/