As Firms Introduce New Products at a Faster Rate, What

question 72

Multiple Choice

As firms introduce new products at a faster rate, what tends to happen to existing products in the product mix?

• A)Existing products enter the maturity and decline stages more quickly.
• B)Product life cycles become much slower.
• C)Production costs for existing products tend to go down.
• D)The price of existing products tends to go up.
• E)Existing products enter the maturity and decline stages more slowly.

---

Definitions:

Innocent Misrepresentations

False statements made without fault regarding a material fact that induce someone into a contract.

Punitive Damages

are monetary compensations awarded in a lawsuit as a punishment to the defendant and to deter future similar acts.

Fraud

A deliberate deception to secure unfair or unlawful gain, or to deprive a victim of a legal right.

Misrepresentation

The act of giving false or misleading information about a matter of fact, which may induce someone to enter into a contract or make a decision they otherwise might not have made.