In our first blog post on basic economic concepts, we wrote about opportunity cost. Another basic concept central to economic analysis is the concept of marginal cost (as well as marginal revenue and ...

Marginal costs are defined as the actual cost of increasing production by one unit, or money saved by decreasing production by one unit. Marginal costs include all fixed costs, such as materials ...

Marginal revenue measures extra income from producing one more unit. Compare marginal revenue and cost to decide on production adjustments. Track marginal revenue changes to set optimal production and ...

A company's pricing strategy is never permanent. Business managers must continuously evaluate their pricing plan and make adjustments to changes in consumer wants, competitor actions and the economic ...

Conventional cost-benefit analysis incorporates the normally reasonable assumption that the policy or project under examination is marginal in the sense that it will not significantly change relative ...

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 ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Erika Rasure is globally-recognized as ...

The marginal cost of funds-based lending rate (MCLR) is the minimum interest rate that a bank can lend at. MCLR is a tenor-linked internal benchmark, which means the rate is determined internally by ...

Andriy Blokhin has 5+ years of professional experience in public accounting, personal investing, and as a senior auditor with Ernst & Young. Erika Rasure is globally-recognized as a leading consumer ...