Electronics Inc

question 192

Multiple Choice

Electronics Inc.has entered into an agreement with Google to offer selected models of its mobile phones that use a multi-touch interface installed on them rather than buttons to make calls with Google's Android operating system software.This is an example of which type of innovation?

• A) continuous innovation.
• B) discontinuous innovation.
• C) dynamically continuous innovation.
• D) disruptive innovation.
• E) evolutionary innovation.

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Definitions:

Perfectly Competitive

A perfectly competitive market is an economic concept where numerous small firms compete against each other with homogenous products, and no single firm can influence the market price.

MR = MC

A condition in economics where the marginal revenue (MR) of producing one more unit of a good matches the marginal cost (MC) of producing that unit, used in determining the optimum production quantity.

Profit-maximizing Level

The point of production at which a firm achieves its highest possible profit, determined by equating marginal cost and marginal revenue.

Perfectly Elastic

Perfectly elastic describes a situation where the quantity demanded or supplied changes infinitely in response to any change in price, represented by a horizontal demand or supply curve.