When a firm has been granted a trademark, which grants legal protection against other firms using the name of the product that has been granted the trademark, the firm
A) does not have to worry about legally enforcing the trademark; this is the responsibility of the legal system.
B) still faces the possibility that the name will become widely used and no longer associated with a specific company.
C) still must apply for a copyright and a patent to ensure that no other firm will use the product's name.
D) must spend an annual amount on advertising the product each year; the amount it must spend is negotiated by the firm and the government agency that grants the trademark.
B
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A movement down along a given isoquant causes the marginal rate of technical substitution to:
A) increase. B) stay the same. C) decrease. D) cannot be determined without additional information.
Suppose that your income during Year X was $50,000 . and the CPI for Year X was 150 (base year = Z=100). Back in Year Z your income was $30,000 . Has your real income increased or decreased from Z to year X? By how much?
a. Increased by $5,000. b. Increased by $3,333. c. Unchanged. d. Decreased by $3,333. e. Decreased by $5,000.
Why is it customary to report price elasticity of demand in absolute value terms, while cross elasticities and income elasticities are reported with their sign attached?
An increase in the rate of depreciation will cause the discounted present value of expected profits to
A) decrease. B) increase. C) remain unchanged if the real interest rate increases by the same amount. D) none of the above