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 ...

Mary Hall is a editor for Investopedia's Advisor Insights, in addition to being the editor of several books and doctoral papers. Mary received her bachelor's in English from Kent State University with ...

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 ...