The newer a product and the earlier it is in its life cycle,
A)the lower the price the firm must charge.
B)the more competition it has.
C)the higher is the price that can usually be charged.
D)the lower its production costs are.
E)the lower its unit variable cost is.

Question

Quizplus · Accepted Answer

Early in a product's life cycle,a firm can often charge a higher price because there are few,if any,substitutable products.

The Newer a Product and the Earlier It Is in Its