Which of the Following Is True of a Tested Concept

question 49

Multiple Choice

Which of the following is true of a tested concept?

• A)It is the first appearance of an ideA.
• B)It is a form or a technology,plus a clear statement of benefit.
• C)It has passed an end-user concept test;need is confirmed.
• D)It passes the test of fit with the company's situation.

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Definitions:

Profit-Maximizing

The approach by which an enterprise figures out the optimal pricing and production levels for the highest profit return.

Marginal Revenue

The supplementary income resulting from the sale of one more good or service unit.

Price-Searcher Firm

A company that operates in a market with differentiated products and has some control over the price of its product because it faces a downward-sloping demand curve.

Profit Maximization

is the process or strategy by which a firm adjusts its production and sale levels to achieve the highest possible profit.