If an Invention Is Obvious, Then It Does Not Qualify

question 74

True/False

If an invention is obvious, then it does not qualify for a patent.

---

Definitions:

MRPs

Marginal revenue products, a measure of the additional revenue generated by employing an additional unit of a resource or factor of production.

Labor Cost

The total expenditure incurred by employers for the wages, benefits, and taxes associated with their workforce.

Total Cost Ratio

A financial metric that sums all the costs associated with the production and delivery of goods or services to the market, divided by the total quantity produced, to assess efficiency.

Labor Demand

The total amount of workers that employers are willing and able to hire at a given wage rate in a given time period.