Can you please a working definition of Commercial Fiction versus Literary Fiction? Am I correct in believing that the former is a bit more formulaic (with many sub-genres such as Romance, Mystery, Sci-Fi, etc) while Literary is highly original but with only limited, highly refined, appeal?
Despite the discussion earlier in the week about the reproductive habits of frogs, I must remind you that the phrase "publishing science" is an oxymoron. There are no hard and fast rules about what is commercial and what is literary, no phylum, genus and species to safely categorize what is L and what is C.
I throw both those words around to suit my evil mercantile plans. If I have a great project and an editor wants commercial fiction, by dog, this is commercial fiction. If an editor wants more literary toned things, well presto magic, this is literary.
Generally I stay within the realm of reason and don't pitch Killer Yapp's Sunday in the Park graphic novel as literary fiction but I would if I thought I'd get a deal out of it.
When agents talk about commercial fiction they mean the stuff that sells well. When they talk about literary fiction they mean the stuff that gets reviewed well.
Don't worry about this. Call your work a novel or a mystery, or a romance and leave the category dance to the pros.