Each unit is assumed to choose emission control retrofit options, fuels, and generation levels so as to maximize its own net profit in response to fuel prices, emission allowance prices, and prices of electricity for various demand segments.
Price changes do not cause net profit to shift.
mnli hypothesis: Price changes do not cause net profit to shift. premise: Each unit is assumed to choose emission control retrofit options, fuels, and generation levels so as to maximize its own net profit in response to fuel prices, emission allowance prices, and prices of electricity for various demand segments.