True or false: if hubert's fire engines were a competitive firm instead and $80,000 were the market price for an engine, decreasing its price from $80,000 to $60,000 would result in the same change in production quantity and, thus, total revenue.

FALSE

because hubert being a competitive firm, if it decreases the price of engine, demand increases and thus production increases. Therefore revenue also increases.

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

                                          hope it