Business, 03.03.2020 00:49, cascyrio2002

Consider firms that introduce new products, such as DVDs in 2001. When firms introduce new products, how do they typically determine the price elasticity of demand for those products? Firms with new products often A. identify price elasticity of demand by using price controls to set price floorsfloors. B. approximate price elasticity of demand with market signals such as shortagesshortages. C. identify price elasticity of demand by asking for government assistance. D. estimate price elasticity of demand by experimenting with different prices. E. guess price elasticity of demand based on market competition.

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Consider firms that introduce new products, such as DVDs in 2001. When firms introduce new products,...