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From Smart Meters to Smart Grids,the Climate Group Is Working

question 9

True/False

From smart meters to smart grids,the Climate Group is working with members and partners,such as Google and Cisco,to build on the enormous potential and economic opportunities of IT in the low carbon economy.


Definitions:

Marginal Revenue Function

The rate at which total revenue changes with respect to the output quantity change.

Marginal Costs

The added cost that comes from producing an additional unit of a product or service.

Kinked Demand Model

An economic model that suggests prices remain stable because firms in oligopoly markets may not adjust their prices in response to small shifts in demand or cost.

Demand Curve Shifts

Changes in the demand curve caused by factors other than the price of the good, leading to a new quantity demanded at every price.

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