marginal cost Synonyms
No Synonyms and anytonyms found
marginal cost Meaning
Wordnet
marginal cost (n)
the increase or decrease in costs as a result of one more or one less unit of output
marginal cost Sentence Examples
- The marginal cost of producing the next unit of output is the additional cost incurred to produce it.
- The marginal cost curve shows the change in total cost when the output is increased by one unit.
- A firm's optimal output level is achieved when marginal cost equals marginal revenue.
- When marginal cost is less than marginal revenue, the firm should increase production.
- When marginal cost is greater than marginal revenue, the firm should decrease production.
- The law of diminishing marginal returns states that as the quantity of an input increases, its marginal productivity decreases.
- The elasticity of demand measures the responsiveness of quantity demanded to changes in price, and it can be affected by marginal cost.
- In a perfectly competitive market, the marginal cost of a firm equals the market price.
- Technological advancements can lead to reductions in marginal cost, which can benefit both producers and consumers.
- Environmental regulations can increase marginal costs by imposing additional costs on production.
FAQs About the word marginal cost
the increase or decrease in costs as a result of one more or one less unit of output
No synonyms found.
No antonyms found.
The marginal cost of producing the next unit of output is the additional cost incurred to produce it.
The marginal cost curve shows the change in total cost when the output is increased by one unit.
A firm's optimal output level is achieved when marginal cost equals marginal revenue.
When marginal cost is less than marginal revenue, the firm should increase production.
