Which of the Following Can a Firm Use to Defend

question 71

Multiple Choice

Which of the following can a firm use to defend a successful product's brand name?

• A)The firm can obtain a patent on the brand name.
• B)The firm can apply for a trademark to ban other firms from using the product's name.
• C)The firm can increase the amount it spends on advertising for the product.
• D)The firm can attempt to copyright the brand name.

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Definitions:

Demand Schedule

A table that lists the quantity of a good that consumers are willing to purchase at different price levels.

Profit-Maximizing

A strategy or point at which a business operates to achieve the highest possible profit given its production costs and market conditions.

Marginal Revenue

The incremental revenue earned by selling one more unit of a good or service.

Inelastic

Describing demand or supply that is relatively unresponsive to price changes, meaning the percentage change in quantity is less than the percentage change in price.