To predict what your costs will be if you change your production volume, you have to find your variable costs. You can then find the variable cost per unit and estimate what your costs will be for a ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Discover the differences between fixed and variable costs and how they impact production costs. Learn to analyze these costs ...

1. If marginal product is decreasing, then average product must also be decreasing. 2. For a fixed-proportion technology, inputs cannot be substituted for each other in production. 3. The marginal ...