Curry seasonings has a patented technology for finely grinding spices while maintaining flavor. this has allowed the company to make some of the world’s finest spices. however, recently a competitor patented a newer technology that results in the production of more potent spices than curry’s spices. what would you recommend they do to revalue the intangible asset?

Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.