The Benefits of Licensing Are Associated With

question 17

Multiple Choice

The benefits of licensing are associated with:

• A)its limited capital requirements
• B)its capacity to leverage technology
• C)both of the above
• D)none of the above

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Definitions:

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.

Excess Quantity

A situation where the supply of a product exceeds the demand for it.

Consumer Surplus

is the difference between the total amount that consumers are willing to pay for a good or service and the total amount that they actually pay.

Market Price

The immediate rate at which an asset or service can be traded in a specific trading place.