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 ...

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 ...

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 ...

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 ...