Which of the Following Is(are) TRUE

question 376

Multiple Choice

Which of the following is(are) TRUE?

• A) A "service mark" is to a service what a "trademark" is to a physical good.
• B) "Trademark" refers to all means of product identification.
• C) A "trademark" must be attached to a product to be legally protected.
• D) "Trademarks" and "service marks" must be words.
• E) None of these alternatives is TRUE.

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Definitions:

Long Run

The time period in which all factors of production can be varied, but technology remains constant.

Product Differentiation

A marketing strategy that businesses use to distinguish their product from similar offerings in the market, through variations in quality, features, style, or branding.

Monopolistically Competitive

A market structure where many firms sell products that are similar but not identical, allowing for product differentiation and some price control.

Elasticity

A measure of how much the quantity demanded or supplied of a good responds to a change in one of its determinants, such as price.