If a business’s costs decrease and its revenue decreases, then its financial viability will:YOUR ANSWERYour Answerincrease.decrease.remain unchanged.increase, decrease or remain unchanged.

Which of the following can we be sure will explain an improvement in the financial viability of a business?YOUR ANSWERYour AnswerAn increase in revenue.A decrease in costs and an increase in revenue.A decrease in costs.An increase in revenue and an increase in costs.

Following a price decrease, total revenue will:1 pointincrease if the demand is price inelastic.always increase.always decrease.increase if demand is price elastic.

Generally, the business financial viability is affected by which of the following factors? (i) The revenue it receives. (ii) The state of the economy. (iii) Its ability to manage its costs. (iv) The size of the market.

Higher costs that result from increased competition in an industry will:YOUR ANSWERYour Answerimprove a business’s financial liability.have no change on a business’s financial liability.increase, decrease or have no impact on a business’s financial liability.decrease a business’s financial liability

What typically happens to promotional expenditures during the decline phase of the PLC?They increase substantiallyThey remain constantThey are redirected to new product launchesThey decrease or are eliminated