Which of the following theories suggests that firms seek to penetrate new markets over time ........

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Which of the following theories suggests that firms seek to penetrate new markets over time?

Imperfect Market Theory

Product cycle theory

Theory of Comparative Advantage

None of the above

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Explanation:

Product cycle theory suggests that firms seek to penetrate new markets over time. The International Product Life Cycle Theory was authored by Raymond Vernon in the 1960s to explain the cycle that products go through when exposed to an international market.