More of the same. Chapter 10 describes in detail what the product life cycle is all about. Beware, this is a "false" question, so all statements, except a) are true.

26.   Which of the following statements regarding the market growth stage of the product life cycle is false?

a)    Innovations still earn profits - but this stage is less profitable for them than the previous stage.
Obviously not true: innovations only start making profits in the growth stage.

b)    This is the time of peak profitability for the industry.

c)    The sales of total industry are rising fairly rapidly as more and more customers buy.

d)    Monopolistic competition is common during this stage.

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