Whats-A-Matter U

question 69

Multiple Choice

Whats-a-Matter U.,a co-ed school of 1000 total students,has decided to start a football team and will be playing in Division III against other Division III and the occasional Division II schools.Since the colors of the school are blue and gold,they decide to model their uniforms and helmets after those worn by the University of Michigan Wolverines' football team.The University of Michigan has approximately 40,000 total students and is perennially a Division I football power,often on television and frequently in competition for the college football national championship.Which of the following statements most accurately describes the potential intellectual property liability of Whats-a-Matter U?

• A) Whats-a-Matter U is infringing on Michigan's trademark due to the possibility of deception.
• B) Whats-a-Matter U is infringing on Michigan's trade dress due to the possibility of confusion.
• C) Whats-a-Matter U is infringing on Michigan's patent based on the design and colors of the uniform and helmet.
• D) Whats-a-Matter U is infringing on Michigan's copyright based on the fact that "fair use" does not apply in this scenario.
• E) Whats-a-Matter U is not infringing on any of Michigan's intellectual property rights because the likelihood that anyone would be tricked, deceived or confused and the likelihood that Michigan will suffer a monetary injury or loss of enrollment is so remote as to be non-actionable.

Understand the concept and importance of a statute of limitations in legal actions.

Understand the concept of monopsony and how it impacts resource pricing and quantity.

Calculate the effects of monopsony power on pricing, including markdowns and marginal value.

Analyze monopolistic markets, including demand functions, pricing strategies, and marginal costs.

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Definitions:

Direct Materials

Raw materials that are directly traceable to the production of a specific good or service.

Direct Labor

The wages and benefits for employees directly involved in the production of goods or services.

Plantwide Factory Overhead Rate

A single overhead absorption rate used across an entire manufacturing plant, calculated by dividing the total factory overhead by a predetermined base, such as total direct labor hours or machine hours.

Overhead Costs

Expenses not directly associated with production, including rent, utilities, and office expenses, that support the overall business operations.