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Author Question: A seller's profits peak in the maturity stage of a product's life cycle. Indicate whether the ... (Read 157 times)

danielfitts88

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on: Jun 29, 2018
A seller's profits peak in the maturity stage of a product's life cycle.
 
 Indicate whether the statement is true or false

Question 2

What are the implications of a downward-sloping demand curve?


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juiceman1987

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Reply #1 on: Jun 29, 2018
Answer to Question 1

False

Answer to Question 2

Most firms face downward-sloping demand curves for their products. In other words, they must lower their prices to sell additional units. This situation means that each additional unit of product sold provides the firm with less revenue than the previous unit sold. Marginal revenue decreases as price decreases and quantity sold increases. Marginal revenue (MR) is the change in total revenue that arises from the sale of an additional unit of a product. Eventually, marginal revenue will reach zero, and the sale of additional units actually causes the firm to lose money.


danielfitts88

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

strudel15

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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