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March 2, 2024 

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MATURITY STAGE: The third stage in the product life cycle, characterized by flattening of sales and decreasing profit margins. Advertising and promotion are used to maintain market share and to prevent the erosion of sales and profits. During this stage, the initial decline of a product begins and many businesses try to "re-invent" their products to prevent the upcoming decline stage. Many times the company finds new uses for an existing product (baking soda as a deodorizer), totally new markets (foreign countries), or a way to enhance the existing product to make it better and to re-start the life cycle. The television has gone through at least two life cycles, first from black and white to color and then from color to high definition (HD) and plasma. Along the way there were enhancements such as remote control, VCRs to complement them, and cable to help with reception.

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AVERAGE TOTAL COST: Total cost per unit of output, found by dividing total cost by the quantity of output. Average total cost, usually abbreviated ATC, can be found in two ways. Because average total cost is total cost per unit of output, it can be found by dividing total cost by the quantity of output. Alternatively, because total cost is the sum of total variable cost and total fixed cost, average total cost can be derived by summing average variable cost and average fixed cost.

     See also | total cost | quantity | average total cost curve | total variable cost | total fixed cost | average variable cost | average fixed cost |


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AVERAGE TOTAL COST, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: March 2, 2024].


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MARGINAL REVENUE CURVE, PERFECT COMPETITION

A curve that graphically represents the relation between the marginal revenue received by a perfectly competitive firm for selling its output and the quantity of output sold. Because a perfectly competitive firm is a price taker and faces a horizontal demand curve, its marginal revenue curve is also horizontal and coincides with its average revenue (and demand) curve. A perfectly competitive firm maximizes profit by producing the quantity of output found at the intersection of the marginal revenue curve and marginal cost curve.

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Today, you are likely to spend a great deal of time strolling through a department store hoping to buy either a birthday gift for your mother or a weathervane with a horse on top. Be on the lookout for door-to-door salesmen.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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