LaserTech Is a Manufacturer of Industrial Lasers and Has Developed

question 47

Multiple Choice

LaserTech is a manufacturer of industrial lasers and has developed a new, patented technology that allows its customers to manufacture their products more precisely with a higher level of consistency and at a lower cost than they could previously. LaserTech's executives believe that no rivals have a similar technology and that it would be very difficult for rivals to copy this technology since the benefits of the new technology can only be realized within LaserTech's system, which includes processes that are protected by trade secrets, making it difficult for rivals to understand the relationship between the company's new technology and its competitive advantage.
-LaserTech's new technology appears to be

• A) valuable and rare but not costly to imitate.
• B) valuable and either rare or costly to imitate.
• C) valuable but neither rare nor costly to imitate.
• D) valuable, rare and costly to imitate.

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Definitions:

Nuts

Edible seeds typically encased in a hard shell, commonly consumed as snacks or used in various recipes.

Berries

Small, pulpy, and often edible fruits that are typically juicy, rounded, brightly colored, and have seeds.

Utility Function

A mathematical expression that represents a consumer's preference ranking over a set of goods and services.

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a given period of time.