1.   If factor prices are equalized, each firm will have the same Marginal costs.

2.   The endowments and behaviour of households are taken as given, as are all pre-tax factor prices and producer prices.

3.   In part of the top panel all forms of factor prices are listed, their precise values being determined by the supply and demand of the factors in question.

4.   Add to those factors sharply rising prices for natural gas and a shortfall in precipitation that feeds hydropower and you have the ingredients for escalating electricity costs.

5.   He said the key factor dampening prices however continued to be war fears.