Which of the following is true of trademarks?
A) If a firm is granted a trademark, then no other firms can legally produce similar products for a given period of time.
B) A successful trademark is one that allows consumers to immediately identify the source or producer of the product.
C) If a firm is granted a trademark, then no other firms can legally sell in the same geographic area for a given period of time.
D) A successful trademark is one that becomes a generic name for a product, for example, Xerox has become a generic term for making photocopies.
Question 2
Refer to Figure 16-2. Suppose Plato Playhouse charges a single price of Pd for each performance. Which of the following statements is true?
A) The company is selling less than the profit-maximizing quantity in the non-student market and more than the profit-maximizing quantity in the student market.
B) The company is selling less than the profit-maximizing quantity in both markets.
C) The company is selling less than the profit-maximizing quantity in both markets but it is maximizing its revenue.
D) The company is selling more than the profit-maximizing quantity in the non-student market and less than the profit-maximizing quantity in the student market.
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