Which of the following statements about product lines is most accurate?

Question $1$ options:

Product lines refer to consumer products; product mixes refer to industrial products.

A broad product line reduces R&D costs.

An advantage of broad product lines is increased likelihood of access to large retail chain distribution.

An advantage of a narrow product line is the ability to have a greater gap between price points.

A benefit of having a narrow product line is that it enables both consumers and retailers to simplify their buying decisions.