Final answer:
Executives must consider the long-term application and market need satisfaction when analyzing market receptiveness.
option d is the correct
Step-by-step explanation:
The correct answer is d. long run; long run.
When analyzing market receptiveness, executives must consider the immediate and valuable application of a new technology in the long run, as well as its ability to satisfy a market need in the long run.
In the short run, firms cannot change the usage of fixed inputs, meaning they cannot make major adjustments to their production processes. However, in the long run, firms have the flexibility to adjust all factors of production, including technology.
For example, if a technology is introduced that has the potential to revolutionize a specific industry in the long run, and it can satisfy a market need in the long run, executives may consider investing in the technology to gain a competitive advantage and cater to future market demands.