Which of the Following Statements Is True of Time to Market

question 49

Multiple Choice

Which of the following statements is true of time to market?

• A) Companies that shorten their products' time to market can create a competitive advantage.
• B) Companies need to follow a centralized work schedule and monitoring for achieving a successful time to market.
• C) Successful time-based innovations are attributed to the use of long production runs.
• D) It primarily calculates the elapsed time between test marketing and commercialization.

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Definitions:

Producer Surplus

The disparity between the price that producers are ready to accept for a product or service and the price they actually obtain.

Equilibrium Price

The cost where the amount of a product or service consumers want to buy matches the quantity that producers are willing to sell.

Equilibrium Quantity

The amount of goods or services available matches the amount requested at the market price.

Consumer Surplus

Consumer surplus is the difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.