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This is the evaluation of the costs and benefits of the marginal unit of an input.
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Law of Diminishing Returns
This is an additional or extra benefit associated with an action,
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Marginal Analysis
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Marginal Benefit
Marginal Cost
This is the change in the total cost of an item that occurs when the quantity
produced changes by one unit.
This is the change in total revenue/change in number of units sold. It is the extra
revenue that an additional unit of a product will bring a company.
This is the expense for a good or product that changes in proportion to the activity
of the company.
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Marginal Revenue
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Production
This term refers to the actual cost of a product or service over time.
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Variable Cost
Variable Expense
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This is the process of making a good or product.
This means that in a production system with fixed and variable inputs, beyond some
point, each additional unit of variable input yields less and less additional output.
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