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Suppose There Is a New Technological Invention That Will Allow

question 71

Essay

Suppose there is a new technological invention that will allow you to put any resource into a special black box and in an instant anything that you program it to produce will be produced? Does this invention end scarcity? Why or why not?


Definitions:

Charge

A fee or price asked for goods and services, or an accounting entry reflecting a debt or liability.

Variable Factory Overhead

Expenses in a factory operation that vary with production volume, such as utilities or raw materials.

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