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
Ans: b. high initial price, falling slightly when entering the growth stage
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A factory continues to dump its chemical waste into the local river in spite of government orders banning the dumping of industrial effluents in local water bodies
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