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Burger King, the national franchise, is banned from opening a restaurant within 20 miles of Mattoon, Illinois. So, there is not a Burger King there; no problem, right? Not so fast! In the late 1950s, Gene and Betty Hoots trademarked the iconic name. Well, they trademarked it in Illinois at least. When the national company decided to open a chain close by, the Hoots sued and won their case. However, the national chain was able to keep the name Burger King, but the Hoots were also able to keep the name in accordance with the stipulation that the national chain could not open a store within a 20- mile radius of the original store in Mattoon, Illinois. In a minimum of 500 words, explain the reasons why this decision was made, and discuss the significance of this case in U.S. trademark law jurisprudence.
The economy is made up of C and I and is currently at full employment. If consumption is $5 trillion while savings is $1 trillion, what is present investment according to classical economists.
Consider a market characterized by the following inverse demand and supply functions: PX = 10 - 2QX and PX = 2 + 2QX? Compute the loss in social welfare when an $8 per unit price floor is imposed on the market.
Define absolute and comparative advantage in your own words. Elucidate how absolute and comparative advantages were used in your simulation.
How do Minimum Wage Laws affect the equilibrium in the Labor Market? For your selected product, if the government places a mandated price ABOVE the equilibrium price, how would this affect the market equilibrium?
Pharmaceutical drugs have an inelastic demand, as well as computers have an elastic demand.
A case study in this chapter discusses the federal minimum-wage law. Use the grey point (star symbol) to indicate the market equilibrium wage and quantity of labor in the absence of a minimum wage. Now suppose the secretary of labor proposes an incre..
Consider the following situation regarding the trading partners Hong Kong, Japan, and the United States: Hong Kong’s currency is pegged to the U.S. dollar; the Japanese currency (the yen) appreciates relative to the U.S. dollar. How would Hong Kong e..
A chemical recovery system costs $30,000 and saves $5,280 each year of its seven=year life. The salvage value is estimated at $7,500. The after-tax MARR is 9%, the CCA rate is 20% and taxes are at 45%. What is the net after-tax annual benefit or cost..
Suppose that "0" coupon US treasuries due to mature in one year were yielding .39%, while "0" coupon US treasuries maturing in 2 years were yielding .83%. If you were a risk neutral investor who wanted to choose between these bonds the one that offer..
Reflect on the notion of fiscal union within the European Union. Why is it becoming necessary? Can it be achieved quickly enough to avert financial disaster within the trading bloc?
Comment about substitution effect and income effect when price of good one alone decreases if the goods are perfect substitutes.
q.exercise 1price mart reduces the price of a 42 inch tv plasma from 1200 to 1000. as a result sales of tv plasmas
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