[Scuba Diving] Felicia Invented a New Type of Mask That

question 30

Multiple Choice

[Scuba Diving] Felicia invented a new type of mask that was not subject to fogging for scuba divers and obtained a patent on it. She agrees to allow Mei to manufacture and sell the mask. She receives a sum of money for every mask that Mei sells. Felicia also entered into an agreement with Evan to allow him to sell the masks, but only if he also purchased non-patented diving suits from Felicia. All parties proceeded to do very well with their sales.
-Felicia's agreement with Mei allowing Mei to sell the mask is referred to as which of following?

• A) A license
• B) A patent agreement
• C) A trade agreement
• D) An illegal agreement
• E) A franchise agreement

Understand the concept of price discrimination and its impact on consumer groups.

Analyze the effect of perfect price discrimination on economic welfare, consumer surplus, and profits.

Recognize the conditions necessary for effective price discrimination.

Differentiate between various examples and non-examples of price discrimination.

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Definitions:

Process Consultants

Professionals who assist organizations in analyzing and improving their processes, often focusing on the effectiveness and efficiency of operations.

Dispute Resolution Skills

Abilities or techniques used to resolve conflicts, disagreements, or disputes effectively.

Communication Skills

The ability to convey or exchange information effectively through various means.

Third-Party Involvement

The participation or intervention of an entity not directly involved in a matter to facilitate resolution or decision-making.