Question

what is a patent?a government rule granting exclusive rights to an invention.a trademark used to identify and market specific goods.a trade secret protecting production methods.a law deregulating prices and output quantities.the legal requirement to prevent entry into competitive markets.question 111 ptswhat is predatory pricing?temporary price cuts to discourage new competition.long - term price reductions to increase market share.setting prices equal to the marginal cost of production.raising prices to maximize profits in a legal monopoly.reducing prices to achieve allocative efficiency.question 121 ptswhat are trade secrets?methods of production kept secret by the firm.legal rights to produce goods for a limited time.market structures that prevent competition.pricing strategies that reduce competition.patented technologies used for producing goods.

Explanation:

• For "What is a 'patent'?": A patent is indeed a government - granted exclusive right to an invention. A trademark (option B) is for identifying goods, a trade secret (option C) is about keeping production methods secret (not a patent), option D is about deregulation which is not related to patents, and option E is about preventing market entry (not the core of a patent).
• For "What is 'predatory pricing'?": Predatory pricing is a temporary price cut to discourage new competition. Long - term price reductions (option B) is more about regular market share growth strategies. Setting prices equal to marginal cost (option C) is related to efficiency in some models. Raising prices in a legal monopoly (option D) is about monopoly profit - maximization. Reducing prices for allocative efficiency (option E) is a different economic concept.
• For "What are 'trade secrets'?": Trade secrets are methods of production kept secret by the firm. Legal rights to produce for a limited time (option B) is more like a patent or copyright. Market structures preventing competition (option C) is about market power. Pricing strategies reducing competition (option D) is about pricing tactics. Patented technologies (option E) are not trade secrets as they are publicly known (due to the patent).

Answer:

• For "What is a 'patent'?": A. A government rule granting exclusive rights to an invention.
• For "What is 'predatory pricing'?": A. Temporary price cuts to discourage new competition.
• For "What are 'trade secrets'?": A. Methods of production kept secret by the firm.