Recently,the Google Team Announced Its Fleet of Driverless Cars Had

question 190

Multiple Choice

Recently,the Google team announced its fleet of driverless cars had completed over 1 million miles of "autonomous driving." The Google driverless car is at which stage of the new-product development process?

• A)development.
• B)market testing.
• C)idea generation.
• D)screening and evaluation.
• E)business analysis.

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Definitions:

Inferior Good

A good or service whose consumption declines as income rises, prices held constant.

Constant Costs

Costs that remain unchanged regardless of the level of production or activity.

Long-Run Equilibrium

A state in which all firms in a market are making zero economic profit, with no firm having an incentive to enter or exit the industry.

Allocative Efficiency

An economic state where resources are allocated in a way that maximizes the overall utility to society, ensuring that the goods and services produced match consumer preferences.