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Attempts to use solar energy on a large scale could have profound results. For example, it could change the albedo of the earth. This is the percentage of sunlight that is reflected back into space. Such an occurrence could cause a substantial change in the temperature of the earth, just as any other energy conversion does, making the planet too hot for life. Robert S. Boikess and Edward Edelson, Chemical Principles
Long-Run Average Cost Curve
A graphical representation showing how the average cost of production changes as the scale of production is altered over the long term, reflecting economies and diseconomies of scale.
Minimum Cost
The lowest possible cost at which a particular quantity of goods or services can be produced or obtained, while still maintaining efficiency and effectiveness.
Increasing Return to Scale
When an increase in the amount of inputs results in a disproportionate increase in the output produced.
Increasing Return to Scale
A situation in which output increases by a larger proportion than the increase in inputs in the production process.
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