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Subject: Practical application of Law of demand
Message:
From a theoretical standpoint I understand that, ceteris paribus, as the price goes up demand reduces, and that the market price of a good or service is decided by the number of buyers, but I would like to understand the practical application of these theories under the following 3 scenarios:

1. When an enterprise is entering the market of an existing product/service, how does it go about calculating the demand for its product?

2. When an enterprise is creating a market for a new product/service, let's say roller blade skates for adults, how does it go about calculating the demand for its product?

3. When demand for ice-creams increases in summer, why don't companies, from the likes of a B&R to an HUL, don't increase the price of the product?


Can someone please explain?
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