What must demand curves be estimated based on?
A) marketing research
B) past practices in the industry
C) profit maximization
D) effective accounting procedures

Question

Quizplus · Accepted Answer

Demand curves must be estimated based on marketing research to understand consumer behavior, preferences and willingness to pay. Past practices in the industry, profit maximization and effective accounting procedures may provide useful information, but they are not sufficient to estimate demand curves on their own.

What Must Demand Curves Be Estimated Based On