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Application: light bulb efficiency and energy consumption

LED light bulbs use only 20 to 25 percent of the energy used by traditional incandescent bulbs. Even if all consumers replace their old bulbs by the LED bulbs, do we expect that the arrival of LED light bulbs will decrease energy consumption for lighting by 75 to 80 percent? Please explain the reasoning behind your answer.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91422263

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