When Laser Technology Developed and Introduced a High-Tech Crash Investigation

question 9

Multiple Choice

When Laser Technology developed and introduced a high-tech crash investigation system to be used by law enforcement officers,the company determined that demand for the product was inelastic,and there was no existing competition.What should be the pricing strategy for the system?

• A) low initial price,rising constantly through growth and into maturity
• B) high initial price,falling slightly when entering the growth stage
• C) high price,continuing through growth and maturity
• D) low initial price,rising slightly when entering the growth stage

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Definitions:

Supermarket Chains

Refers to large retail entities that operate multiple stores under the same brand or ownership, specializing in selling a wide variety of groceries and household products.

Average Prices

The sum of the prices of all items in a set divided by the number of items, used to give a central value of the dataset.

Levels

Different positions or stages in a hierarchical process, system, or organization; in statistics, it refers to the different conditions or values that an independent variable can take.

Text Messages

Brief electronic messages sent over a cell phone network, primarily consisting of text but sometimes including images or videos.