A Major Difference Between Committed and Discretionary Fixed Costs Is

question 94

Multiple Choice

A major difference between committed and discretionary fixed costs is that

• A)incurring committed fixed costs is less risky than using discretionary costs.
• B)managers are usually responsible for committed fixed costs but not for discretionary fixed costs.
• C)incurring discretionary fixed costs rather than committed fixed costs gives a company more flexibility in controlling costs.
• D)companies are using more discretionary fixed costs because labor is easier to "remove" than technology.

Understand the basic remedies available under the Patent Act for infringement.

Recognize the distinct elements and duration of design, plant, and utility patents.

Identify the criteria for determining a mark's distinctiveness and fame under the Federal Trademark Dilution Act.

Be familiar with the NET Act and its implications on copyright and patent law.

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Definitions:

Sequential Play

A feature of certain games in which players make moves one after the other, with each player aware of the preceding players' moves before making their own.

Utility Function

An economic model that ranks an individual's preferences for different combinations of various goods and services.

Edgeworth Box

A diagrammatic tool used in microeconomics to show various distributions of resources or outcomes between two agents in an economy.

Contract Curve

In economics, a curve representing the set of optimal allocation points for two parties trading two goods, assuming utility maximization.