The Licensee Generally Pays a Fixed Sum When Signing a License

question 19

True/False

The licensee generally pays a fixed sum when signing a license agreement and then royalties of 5 to 7 percent of sales over the life of the contract.

Recognize the effect of changing consumer preferences on market demand.

Understand the relationship between shifts in supply and demand curves and their impact on equilibrium price and quantity.

Identify the effects of economic conditions (e.g., income changes, production cost changes) on market equilibrium.

Analyze the impact of external factors (e.g., diets, technological advances) on demand or supply.