The onset of the COVID-19 pandemic forced many companies to conduct business remotely rather than in office buildings. In many cases, these companies found it more cost-effective to remain working remotely after the pandemic. Fees for building rentals, electricity, and other expenses are not present when employees work from their homes. One challenge faced by this change in business practice is communication. Employees can no longer walk across the hall, or peek over their cubicle walls, to ask for clarification from their coworker about an issue. More Sunny Day Technology took advantage of this situation to develop and market new computer software to help corporations develop effective communication between virtual employees. Use the knowledge you’ve gained in this and previous Units to answer the following questions. Support your response by providing examples and details. How can More Sunny Day Technology Company market the right price for its new product? How can you comprehend the price elasticity for this type of product in the current economic market? What or who is the competition? Why?
The onset of the COVID-19 pandemic forced many companies to conduct business remotely rather than in office buildings. In many cases, these companies found it more cost-effective to remain working remotely after the pandemic. Fees for building rentals, electricity, and other expenses are not present when employees work from their homes. One challenge faced by this change in business practice is communication. Employees can no longer walk across the hall, or peek over their cubicle walls, to ask for clarification from their coworker about an issue. More Sunny Day Technology took advantage of this situation to develop and market new computer software to help corporations develop effective communication between virtual employees. Use the knowledge you’ve gained in this and previous Units to answer the following questions. Support your response by providing examples and details. How can More Sunny Day Technology Company market the right price for its new product? How can you comprehend the price elasticity for this type of product in the current economic market? What or who is the competition? Why?
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth
Section: Chapter Questions
Problem 10SQP
Related questions
Question
The onset of the COVID-19 pandemic forced many companies to conduct business remotely rather than in office buildings. In many cases, these companies found it more cost-effective to remain working remotely after the pandemic. Fees for building rentals, electricity, and other expenses are not present when employees work from their homes. One challenge faced by this change in business practice is communication. Employees can no longer walk across the hall, or peek over their cubicle walls, to ask for clarification from their coworker about an issue. More Sunny Day Technology took advantage of this situation to develop and market new computer software to help corporations develop effective communication between virtual employees. Use the knowledge you’ve gained in this and previous Units to answer the following questions. Support your response by providing examples and details.
How can More Sunny Day Technology Company market the right price for its new product?
How can you comprehend the price elasticity for this type of product in the current economic market?
What or who is the competition? Why?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Macroeconomics: Private and Public Choice (MindTa…
Economics
ISBN:
9781305506756
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
Economics: Private and Public Choice (MindTap Cou…
Economics
ISBN:
9781305506725
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning