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Cerrena [4.2K]
3 years ago
14

_____ refers to firms selling the right to use some aspect of their production processes, trademarks, or patents to individuals

or firms in foreign markets
Business
2 answers:
photoshop1234 [79]3 years ago
7 0
License..........................
meriva3 years ago
6 0
I think the answer you are looking for is 'licensing' because you have to buy a license to use copyrighted/patented/trademarked materials.
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When the group of college students include, in their analysis of costs, what they could have earned by working at part-time jobs instead, they are including the opportunity cost.

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A shortage of a product means its demand is high. Many buyers are willing to buy the commodity at the current price.  As per the law of demand, a price increase will result in reduced demand and achieve equilibrium.

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