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Historically,empirical evidence showed that it was more cost effective to have a single generator of electricity serve a particular region's electricity needs than to have several smaller units compete against each other.More recently,technological advances have occurred in the generation of electricity that allow much smaller generating units to produce electricity for the same average cost as much larger units.Explain how this change would be reflected in the firm's long-run average cost curve and minimum efficient scale.
Thanatos
In Freudian psychology, a concept representing the death drive or instinct, which coexists with the life instinct (Eros) and drives aggressive and destructive behavior.
Psychic Epidemics
Phenomena in which large numbers of people begin to engage in unusual behaviors that appear to have a psychological origin.
Self-Hypnotic Suggestion
A technique of self-induction to reach a state of heightened suggestibility for personal improvement or therapeutic purposes.
Substance-Induced Psychosis
A form of psychosis triggered by the abuse of drugs or alcohol, which can lead to hallucinations, delusions, and disordered thinking.
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