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​Earlier Attempts to Build Offshore Windfarms Ran into Roadblocks

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​Earlier attempts to build offshore windfarms ran into roadblocks. They included high costs and murky rules about the use of the sea floor. People who did not want their ocean views marked by machinery opposed them. But offshore wind may now be on the verge of rapid growth. Such a step will be vital for a future based on renewable energy. Newspaper clipping.


Definitions:

Steak

A high-quality cut of meat taken from the hindquarters of an animal, typically beef, prepared by grilling, frying, or broiling.

Elastic Demand

A situation where the demand for a product changes significantly in response to a change in price.

Short Run

A period in which at least one input is fixed and cannot be changed by the firm.

Substitutes

Products or services that can replace each other, where an increase in the price of one leads to an increase in demand for the other.

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