Final answer:
A new machine that binds books faster than a human is related to the economic question of 'How should products be produced?' This question considers the efficiency of the production process and impacts on costs and market competition.
Step-by-step explanation:
The introduction of a new machine that can bind books twice as quickly as a person addresses the economic question of 'How should products be produced?' This is one of the three fundamental questions that every economy must answer. It involves determining the most efficient production process to utilize in order to maximize productivity and minimize costs.
The new machine exemplifies technological advancement, which plays a key role in deciding how to produce goods. In this case, the firm is employing more advanced technology to increase efficiency, a decision that directly affects the firm's production and cost conditions. This choice reflects an understanding of the market structure and competitive landscape where firms must consider factors like production costs.