Posted: January 14th, 2017

Electric utility companies most modern and efficient equipment

Electric utility companies usually operate their most modern and efficient equipment continuously (i.e., around the clock) and use their older and less efficient equipment only to meet periods of peak electricity demand.

(a) Will the short run marginal cost decrease or increase?

Electric utility

(b) Why do these firms not replace all their older equipment with new equipment in the long run?

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