According to the product life-cycle theory, the high cost of U.S. labo

QUESTION

According to the product life-cycle theory, the high cost of U.S. labor gave U.S. firms an incentive to:

A. lower costs of services to offset a fall in demand.

B. develop cost-saving process innovations.

C. invite foreign direct investment in domestic industries.

D. embrace and promote open market capitalism.

E. import new consumer products and export agricultural products.

ANSWER

B