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22 January, 20:24

In which stage of the product life cycle does price decrease as competition increases and inefficient, high-cost firms are eliminated?

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  1. 22 January, 21:56
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    The correct answer is "maturity stage"

    Explanation:

    The product life cycle is divided into four stages: introduction, growth, maturity, and decline. This concept allows the managers to decide when is an appropriate moment to increase, reduce or expand to a new market with a specific product.

    At the maturity stage price decrease as competition increases and inefficient, high-cost firms are eliminated
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