Marginal cost refers to the change in total cost arising from the production of one additional unit. For example, in a manufacturing firm, the marginal cost will give a measure of the change in total ...

Monopolies are quite common in business. If you offer a product or service that no one else has, then you possess a monopoly. In time, competitors probably will aim to match or improve upon your ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Charlene Rhinehart is a CPA , CFE, chair of ...

Understand the link between total and marginal revenue, their differences, and how to calculate marginal revenue effectively. Learn when a company should adjust production.

Marginal analysis was the heart of early Austrian economics and was quickly adopted into mainstream economics, where it is central to modern microeconomic analysis. Amazingly, many people in business ...

Costs are a critical variable to consider when plotting business strategy. After all, if you can't recover the expenses required to create your product through revenue and profit, then the business ...