Which of the Following Is(are) TRUE

question 321

Multiple Choice

Which of the following is(are) TRUE?

• A) "Service mark" refers to all means of product identification.
• B) A "trademark" must be attached to a product to be legally protected.
• C) "Branding" refers to the use of symbols to identify a product--but does not include brand names.
• D) "Brand name" is a word, letter, or group of words or letters.
• E) All of the above are true.

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Definitions:

Demand Curve

An image that graphically shows the relationship between an item's selling price and the quantities that consumers are interested in buying.

Consumer Surplus

The economic benefit consumers receive when they pay less for a product or service than what they were willing to pay.

Total Surplus

The total societal benefits from trading a good or service, encapsulated by the combination of consumer surplus and producer surplus in a market.

Average Total Cost

The total cost divided by the quantity produced, denoting the cost per unit of production.