A Firm Is Concerned About the Possibility of Patent Infringement

question 7

Multiple Choice

A firm is concerned about the possibility of patent infringement and has hired an attorney to review patents. If the attorney is reviewing 100 patents and the marginal cost of reviewing the 100th patent is $50 and the expected marginal benefit of reviewing the 100th patent is $50, which of the following is true?

• A)The firm is minimizing the total cost of infringement.
• B)The firm is maximizing the total cost of infringement.
• C)The firm's total cost of infringement will decrease if the number of patents reviewed decreases.
• D)The firm's total cost of infringement will decrease if the number of patents reviewed increases.

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Definitions:

Standard Deviation

A measure of the amount of variation or dispersion of a set of values; a low standard deviation indicates that the values tend to be close to the mean of the set.

Variability

Refers to the degree of difference or deviation from the mean within a set of data.

National Mean

The average score or value derived from a dataset that represents a performance or characteristic of a broader population at the national level.

National Counseling Exam

A comprehensive examination required for licensure as a counselor in some jurisdictions, assessing knowledge and skills in the field.