________________ are typically high in the growth stage of the product life cycle since costs per unit are declining but most buyers are still willing to pay a premium price for the product.

A product's life cycle is it's progress from when it is created to when it is discontinued. There are four stages in the cycle, which are: development, growth, maturity and decline.

The growth stage is the period during which the product eventually and increasingly gains acceptance among consumers, the industry and the general public. During this stage, more customers will become aware of the new product which means sales and revenues start to increase.

Manufacturers will see an increase in profit both in terms of the overall profit they make and the profit margin in each product they sell.

Therefore, PROFIT MARGINS are typically high in the growth stage of the product life cycle since costs per unit are declining but most buyers are still willing to pay a premium price for the product.