Final answer:
Cost-based pricing by low-cost producers is most likely to occur in the growth stage of the product life cycle.
Step-by-step explanation:
Cost-based pricing by low-cost producers is most likely to occur in the growth stage of the product life cycle. During this stage, a product gains market acceptance and sales start to increase rapidly. Low-cost producers can take advantage of economies of scale to offer lower prices and attract a larger customer base. As the market expands and the firm achieves economies of scale, its production costs decrease, allowing it to offer competitive prices to consumers.