Ida Has Just Invented a Machine That Diffuses Radar but Looks

question 2

True/False

Ida has just invented a machine that diffuses radar but looks like a pair of fluffy dice. It causes police radar traps to greatly underestimate the speed at which a car is travelling. Ida can protect her new invention using the law of patent.

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Definitions:

Usury Law

Legal regulations that set maximum interest rates which can be charged on loans, aimed at protecting consumers from exorbitant rates.

Shortage

The amount by which the quantity demanded of a product exceeds the quantity supplied at a particular (below-equilibrium) price.

Marginal Land

Land that is of poor quality for agriculture and unlikely to produce a profitable yield without significant investment in improvements.

Rents

Payments made for the use of property or land, or in economic theory, the excess returns to a factor of production over its opportunity cost.