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Consider the following items:
a.the novel The DaVinci Code by Dan Brown
b.the 'The Spirited Shipper',an innovative wine shipping box
c.a Swiss chef's award-winning recipe
d.an original fabric design,for example,the fabric used for 'Coach' bags and luggage
Which of the items listed is an example of intellectual property?
Marginal Cost
The cost incurred by producing one additional unit of a good or service.
Opportunity Cost
Opportunity cost represents the benefits an individual, investor, or business misses out on when choosing one alternative over another.
Marginal Product
Describes the additional output that is produced by using one more unit of a factor of production, holding all other factors constant.
Marginal Cost
The supplementary cost that arises when one additional unit of a product or service is produced.
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