Given a typical industry life cycle, increasing competition for customers will lead to mergers, acquisitions and bankruptcies among firms in the market. This situation is characteristic of:

Group of answer choices

the introductory or embryonic stage, or phase, of the industry life cycle

the growth stage, or phase, of the industry life cycle

the tertiary stage, or phase, of the industry life cycle

the mature stage, or phase, of the industry life cycle

the shakeout stage, or phase, of the industry life cycle