In Order to Maximize Net Benefit, Consumers and Firms Evaluate

question 77

Multiple Choice

In order to maximize net benefit, consumers and firms evaluate each activity at the:

• A) average.
• B) top.
• C) margin.
• D) end.

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Definitions:

Trade Secret

Any practice, formula, process, design, instrument, pattern, or compilation of information not generally known or reasonably ascertainable, by which a business can obtain an economic advantage over competitors or customers.

Patent

A legal document granting an inventor exclusive rights to produce, sell, and use an invention for a certain period of time.

Collective Marks

Trademarks or service marks used by members of a cooperative, association, or other collective group to indicate membership.

Trade Secrets

Information that is not known to the public, confers some sort of economic benefit on its holder, and is the subject of efforts to maintain its secrecy.