The Stage in a Product Life Cycle in Which Innovators

question 61

Multiple Choice

The stage in a product life cycle in which innovators are the main consumers is called the stage.

• A)innovation
• B)maturity
• C)growth
• D)introduction
• E)decline

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Definitions:

Marginal Cost

The rise in overall expenses resulting from the manufacture of an extra unit of a product or service.

Collude

To collude means to cooperate or conspire in secret, especially with the intention to cheat or deceive others, such as companies agreeing to fix prices.

Total Revenue

The total amount of money generated by a company from sales of its products or services before any expenses are subtracted.

Price Effect

The impact on the market when there is a change in the price of goods or services, influencing the supply and demand.