Patents I.encourage the Invention of New Products and Production Methods

question 177

Multiple Choice

Patents
i.encourage the invention of new products and production methods.
ii.generally discourage innovation.
iii.are exclusive rights granted to the inventor of a product or service.

• A) i only
• B) ii only
• C) ii and iii
• D) i and iii
• E) i, ii, and iii

Examine the effects of changes in production levels on marginal and average costs, and their subsequent influence on pricing and output decisions.

Understand the prototype theory and how it applies to word meaning.

Grasp the definitional theory of word meaning and contrast it with the prototype theory.

Comprehend the concept of semantic features and their role in word meaning.

---

Definitions:

Semiannually

Occurring twice a year, or every six months.

Bond Interest Expense

The cost incurred by an entity for borrowing funds through issuing bonds, payable to bondholders as interest.

Semiannual

Occurring twice a year; every six months.

Par Value

The face value of a bond or stock, as stated by the issuing company, which often bears no relation to its market value.