Commercialization Is

question 172

Multiple Choice

Commercialization is

• A) the point at which a new product has diffused throughout the marketplace.
• B) the introduction of an offering to sequential geographic areas of the United States.
• C) the process of exposing actual products to prospective consumers under realistic purchase conditions.
• D) the stage of the new-product development process that positions and launches a new product in full-scale production and sales.
• E) the point where new-product concepts are transformed into prototypes.

---

Definitions:

Marginal Private Cost

The additional cost incurred by the producer for producing an extra unit of a good, not considering external effects.

Equilibrium

A state where market supply and demand balance each other, and, as a result, prices become stable.

Social Marginal Benefit

The additional benefit to society of consuming or producing one extra unit of a good or service, including both direct and external benefits.

Public Goods

Public goods are products or services that are non-excludable and non-rivalrous, meaning they can be consumed by anyone without reducing their availability to others.