22. Klepper noted that a large number of empirical industry studies conrmed a regular pattern for the evolution of industries with rich technological opportunities. Which statement is not an accurate description of a typical product life cycle (PLC)? 3. In the beginning, the number of entrants rises over time (or peaks at the start) and then declines and eventually becomes small or zero I). The net number of producers peaks when the rate of entrants begins to decline. c. The net number of producers increases initially, reaches a peak, and then declines steadily despite the continued growth of industry output and sales (1. All of the above are accurate descriptions of a typical PLC