Usually two curves are shown in a figure that represents the stages of the product life cycle. The two curves shown represent total industry sales revenue and total industry profit. Typically what does the higher of the two curves represent?

Question

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The higher of the two curves in a product life cycle figure represents total industry sales revenue. This curve starts at a low point during the introduction stage and increases during the growth stage as more customers adopt the product. It then peaks during the maturity stage, indicating the highest sales revenue, before declining during the decline stage as the market becomes saturated or the product becomes obsolete. The curve for total industry profit is typically lower than the sales revenue curve, as it takes into account both variable and fixed costs.

Usually Two Curves Are Shown in a Figure That Represents