The same is true in an automobile. If you go up a hill, stay in high
gear and floor it as opposed to shifting down and NOT having to floor
it. It is not intuitive. For maximum fuel economy and least engine
wear go for the least revolutions per MILE.

It's a bit different in a plane, because you are dealing with a
constant speed prop instead of transmission with gears, but the
principles are the same.

There is one other caveat, and it can be a big one. That is to run the
engine where it is smoothest. You can feel it.Vibration shakes thiings
apart, and the less the vibration the better off your aircraft is
going to be. So keep that one in mind too.