Suppose that a large and a small wind turbine have similar installation, operating, and maintenance costs, but a large turbine has four times the generating capacity but costs less than three times as much as a small turbine. The wind power industry faces:
A. constant returns to scale.
B. economies of scale.
C. diseconomies of scale.
D. a hump-shaped cost curve.
Answer: B
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Aggregate concentration can be interesting political effects more than for economic effects
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With careful planning, we can usually get something that we like without having to give up something else that we like
a. True b. False Indicate whether the statement is true or false
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a. reduced both unemployment and inflation. b. reduced inflation significantly, but at the cost of a severe recession. c. reduced unemployment significantly, but at the cost of higher inflation. d. raised both unemployment and inflation.