Since a Large and a Small Wind Turbine Have the Same

question 71

True/False

Since a large and a small wind turbine have the same 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 decreasing returns to scale.

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Definitions:

Public Goods

Goods or services that are non-excludable and non-rivalrous, meaning they are available to all and not diminished by use.

Private Consumption

Spending by households and individuals on goods and services for personal use, excluding purchases by businesses or governments.

Pareto Optimal

A situation in which it is impossible to make any one individual better off without making at least one individual worse off.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning that individuals cannot be effectively excluded from use and where use by one individual does not reduce availability to others.