The Speed of the Adoption Process Is Based Upon All

question 10

Multiple Choice

The speed of the adoption process is based upon all of the following except:

• A)relative simplicity of the new product
• B)ease with which the central idea of the new product is communicated
• C)extent to which its trial can be accomplished on a large-scale basis
• D)relative advantage of the new product over other products

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Definitions:

Total Utility

The overall satisfaction or enjoyment a person gets from consuming a certain quantity of goods or services.

Marginal Utility

The boost in contentment or usefulness someone achieves from consuming an additional item of a good or service.

Consumer Surplus

The variance between the price consumers intend to pay for a good or service and the price they actually incur.

Marginal Utility

The extra pleasure or benefit gained by a consumer from using one more unit of a product or service.