(Answered) Demand analysis and optimal pricingmanagerial economics1

Management Studies

Demand Analysis and Optimal Pricing

Managerial Economics:

1. Why is knowing (or estimating) the product demand so crucial for a firm?

2. In your response, include an example of a business that has suffered from poorly estimating the demand of its products.

3. Evaluate how or why the business made such a mistake? Minimum of 300 words, add citations and references.

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