In general, as long as the number of firms that possess a particular valuable resource or capability is less than the number of firms needed to generate perfect competition dynamics in an industry, that resource or capability can be considered

If a company's cost of purchase index is 30 percent below the industry average, it means that ________

A) the company's shares are more expensive than other companies in the industry B) the consumers feel that they are required to pay less for the company's products or services when compared to other companies in the industry C) the consumers feel that they receive less real value from the goods and services they purchase from the company for the price they pay D) the company's goods and products are rated 30 percent lower in terms of quality than those offered by the other companies in the industry E) the company's market share is estimated to be 30 percent smaller than its largest rival company in the industry

Andrew and Martha license each other to use their patents. They agree not to license their patents to anyone else without asking for the other's permission first. Which of the following statements is true of Andrew and Martha's agreement?

A) This arrangement must be registered in court. B) This arrangement constitutes an unlawful tying arrangement. C) This arrangement constitutes unlawful cross-licensing. D) This arrangement is legal and valid.