question 3 1 pts a trademark grants a firm legal protection against other firms using the name of its…

question 3 1 pts a trademark grants a firm legal protection against other firms using the name of its product. when a firm has been granted a trademark, it still must apply for a copyright and a patent to ensure that no other firm will use the products name. does not have to worry about legally enforcing the trademark; this is the responsibility of the legal system. must spend an annual amount on advertising the product each year; the amount it must spend is negotiated by the firm and the government agency that grants the trademark. still faces the possibility that the name will become widely used and no longer associated with a specific company. question 4 1 pts if a monopolistically competitive firm lowers its price and, as a result, its total revenue decreases then the output effect of the price change was less than the price effect. the output effect of the price change was greater than the price effect. the substitution effect of the price change was greater than the income effect. the firms demand curve must have decreased.

question 3 1 pts a trademark grants a firm legal protection against other firms using the name of its product. when a firm has been granted a trademark, it still must apply for a copyright and a patent to ensure that no other firm will use the products name. does not have to worry about legally enforcing the trademark; this is the responsibility of the legal system. must spend an annual amount on advertising the product each year; the amount it must spend is negotiated by the firm and the government agency that grants the trademark. still faces the possibility that the name will become widely used and no longer associated with a specific company. question 4 1 pts if a monopolistically competitive firm lowers its price and, as a result, its total revenue decreases then the output effect of the price change was less than the price effect. the output effect of the price change was greater than the price effect. the substitution effect of the price change was greater than the income effect. the firms demand curve must have decreased.

Answer

Brief Explanations:

Question 3: A trademark provides legal protection for a firm's product name, but there's always a risk of genericide where the name becomes too widely used and loses its association with a specific company. Question 4: In monopolistic - competition, if a firm lowers price and total revenue decreases, it means the negative impact of the price decrease on revenue (price effect) is greater than the positive impact of the increase in quantity sold (output effect).

Answer:

Question 3: still faces the possibility that the name will become widely used and no longer associated with a specific company. Question 4: the output effect of the price change was less than the price effect.