Why does wind power have economies of scale?
What will be an ideal response?
Wind power has economies of scale because a large wind turbine generates four times as much power but costs less than three times as much as a small wind turbine indicating that as production goes up, long run unit costs fall.
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Fill in the blank: Your authors claim ________ has been the rule rather than the exception through almost all of human history
A) price stability B) poverty C) disinflation D) wealth
In the aggregate production function Y = A , real business cycle theory treats ________ as the key independent variable
A) potential output B) productivity C) the capital stock D) the labor input
In international trade, an infant industry is one:
a. that protects firms that produce products for infants. b. with a large number of very small firms. c. in which the firms are experiencing very small profits. d. in the early stages of its development.
For a monopoly, marginal revenue is often greater than the price it charges for its good
a. True b. False Indicate whether the statement is true or false