Trista Has Come Up with a Secret Recipe for Cookies

question 1

Multiple Choice

Trista has come up with a secret recipe for cookies and has sold them through exclusive outlets all around Atlanta.Sales are skyrocketing and her friends tell her to patent the recipe.However,she does not want to even tell the government agency her secret ingredients.Is there anything she can do to keep the recipe legally protected?

• A) No, not unless she is willing to register her recipe.
• B) Yes, her recipe can be considered a trade secret and is already afforded legal protection.
• C) Yes, she can declare her recipe a trade secret and register it with the U.S. Trade Secret Agency.
• D) Yes, but any protection she obtains will only be recognized in the state of Georgia, where she lives.

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Definitions:

MC = MR

A condition where marginal cost equals marginal revenue, often used to determine the profit-maximizing level of output in economic theory.

Monopolistically Competitive Industry

A market structure in which many firms sell products that are similar but not identical, allowing for competition based on quality, price, and marketing.

Output

The quantity of goods or services produced within a given time period.

Profit-Maximizing Rule

The principle that firms maximize profit by producing at the level where marginal revenue equals marginal cost.