Because the Copyright on the L

question 250

Multiple Choice

Because the copyright on the L. Frank Baum book The Wonderful Wizard of Oz expired many years ago, the actual written words from the book are in the public domain. Publishers who now choose to sell their own versions of the book

• A) can claim copyright of Baum's words if they are the first to publish the book after the original copyright expired.
• B) can claim copyright of Baum's words no matter how many versions are published, since the original is in the public domain.
• C) cannot claim copyright of Baum's words since they are in the public domain, but can claim copyright on any new design or illustrations created for the book.
• D) cannot claim copyright of Baum's words, or on any new design or illustrations created for the book, since the original written words are in the public domain.

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Definitions:

Resource Prices

The cost associated with acquiring resources necessary for production, including raw materials, labor, and capital.

Increasing-Cost Industry

An industry where production costs begin to rise as the industry's output expands, often due to resource limitations or increased prices of inputs.

Minimum Long-Run ATC

The lowest point on the Average Total Cost curve when a firm operates in an efficient scale over the long term.

Increasing-Cost Industry

An industry in which production costs increase as industry output expands, often due to resource limitations or higher input costs.