This video is part of a curriculum on the theory and application of economic-engineering concepts underlying competitive electricity markets. This video is part of the first module: the language of costs. This first module explains the significance and meaning of various cost measures. Note that the lecture on average fixed costs also discusses the implications of running a plant at different capacity factors. The PowerPoint slides used in this module are available freely online at Ranjit Bharvirkar from the Regulatory Assistance Project, William Shobe from the University of Virginia, and Dallas Burtraw from Resources for the Future taught this curriculum at several workshops organized by POSOCO. For more information, visit
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Music: Perception by Bensound
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