Which of the Following Products Is Most Likely to Be

question 48

Multiple Choice

Which of the following products is most likely to be in the decline stage of its product life cycle?

• A) Cookie mixes
• B) Wireless mobile phones
• C) Programmable CD-ROMs
• D) Funeral caskets
• E) Prerecorded audiocassette tapes

---

Definitions:

Perfectly Competitive

A market structure characterized by many small buyers and sellers, identical products, and no barriers to entry or exit.

Profit Maximizing

The strategy or technique of optimizing production and pricing for the utmost profit.

AVC Curve

The Average Variable Cost curve, showing the per-unit variable cost of production at different levels of output.

Profit

The financial gain achieved when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.