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A Cosmetics Company Owns a Patent for a Particular Kind

question 5

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 A cosmetics company owns a patent for a particular kind of shampoo, which is a bestseller in the market. It enables the firm to extract a high level of discretion over product pricing. The patent for the shampoo is an example of a firm's _____ resource.


Definitions:

Marginal Cost

The escalation in aggregate cost linked to the fabrication of an extra item of a good or service.

Free Products

Products that are provided to consumers without monetary charge, often used as a business strategy to attract users or customers.

Firms

Businesses or enterprises that engage in commercial, industrial, or professional activities, whether for profit or not.

Society

A group of individuals living together in a more or less ordered community with shared laws, traditions, and values.

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