Often, the earlier a product is in its life cycle:
A)the greater the flexibility to charge a higher price.
B)the lower the price the firm must charge.
C)the more competition it has.
D)the lower the production costs.

Question

Quizplus · Accepted Answer

In the early stages of a product's life cycle, there is often less competition and a unique value proposition, allowing firms to charge a higher price due to the novelty and lack of alternatives in the market.

Often, the Earlier a Product Is in Its Life Cycle