Do not know the right demand you can not set the right price

Reference no: EM1338266

Pricing explained in this solution

You suddenly realize that your demand estimates might have some uncertainty in them. How might you change the amount of surplus you give to the consumers because of this?

When you do not know the right demand, you cannot set the right price. So, instead of setting the price first, how can you find out the right price when there are some uncertainty in your demand estimate?

Reference no: EM1338266

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