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marginal cost |
Also found in: Dictionary/thesaurus, Medical, Financial, Acronyms, Wikipedia, Hutchinson | 0.02 sec. |
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marginal cost [′mär·jən·əl ′kȯst] (industrial engineering) The extra cost incurred for an extra unit of output. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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That makes the marginal cost for each additional kid $109,000 a year. In addition, while the market-determined product price equals marginal cost at the profit-maximizing quantity of output for a ppt, the market-determined wage equals marginal revenue product at the profit-maximizing amount of labor for a rpt, with the logic of marginal reasoning behind these results quite similar for either decision. The accountant will argue that the suppler B should be the supplier of choice; but if the extra 1000 tons of paper made with supplier A is calculated at marginal cost, suddenly the picture changes. |
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