Answer to Question #228153 in Microeconomics for Fekadu

Question

Assume you are managing a firm that recently entered in the transportation service, which
is meter taxi service similar with Ride, Feres and others. If you have to estimate the
demand for the transportation service you provide

Answer 1

If we are to make the pricing decision we will

Recognize our own strengths. How does our product or product line compare to the competition? Put ourselves in the shoes of our consumers. Attempt to comprehend our consumers' requirements. Understand your competitors. Ask our rivals the same questions you asked ourselves.