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 ...

Marginal cost is the added expense of producing one more unit. A horizontal marginal cost curve indicates consistent production costs. Businesses may aim to maintain horizontal costs to stabilize ...

The world of microeconomics and business decision-making hinges upon a key concept: marginal cost. In the simplest terms, marginal cost represents the expense incurred to produce an additional unit of ...