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Video 7: Nuclear and Electricity Markets | Inventions #33-35
This video explains how all of the inventions from Video 1 to Video 7 come together to form an electricity market. There are three basic "economic agents" whose behavior determine the prices of electricity markets. The behavior of these agents is determined by their marginal costs which will determine their willingness to pay (WTP). Their WTP sets market clearing prices which will determine costs to consumers and then revenue to generators.
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