A "Lights Out" Factory Is Completely Automated to the Extent

question 91

True/False

A "lights out" factory is completely automated to the extent that no workers are needed to make what the factory produces.

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Definitions:

Consumption

The act of using goods and services for personal needs or satisfaction, often analyzed in economics to understand spending patterns and behaviors.

Marginal Social Benefit

The additional benefit to society as a whole from producing one more unit of a good or service.

Individual Marginal Benefits

The additional satisfaction or utility that an individual gains from consuming one more unit of a good or service.

Consumer

An individual or group that purchases goods or services for personal use.