On my 8050 the economy pto or 780 rpm selection allows me to get 540 at 1700 rpm.
My tachometer does not have a marking for the proper engine rpm.
I use the economy mode quite often, my sickle bar mower, the tedder, and even on a 8 ft brush hog when I'm doing light triming and such.
Also when I'm running my generator. The Branson doesn't have any connection from the pto speed selection with the engine governor,
so if desired you can overspeed a 540 implement using it.
Some tractors especially the common rail with lots of computer control do tie the pto speed selection into the electronic governor to prevent overspeeding an implement.
Some of the Bransons actually have a 3 speed for the pto where the same shaft can be geared for 540, 780 or 1000 rpm at fullspeed, and as I recall many of the gray market had 4 speeds of course it also seems like they rotated in the opposite direction that ours do.