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    Marginal Cost: Mastering Marginal Cost, The Key to Smart Economics
    Marginal Cost: Mastering Marginal Cost, The Key to Smart Economics
    Marginal Cost: Mastering Marginal Cost, The Key to Smart Economics
    Ebook226 pages2 hours

    Marginal Cost: Mastering Marginal Cost, The Key to Smart Economics

    By Fouad Sabry

    ()

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    About this ebook

    What is Marginal Cost


    In the field of economics, the marginal cost refers to the change in the overall cost that occurs when the quantity produced is increased. In other words, the marginal cost is the cost of creating additional inventory. Sometimes it is used to refer to an increase of one unit of output, while other times it is used to refer to the rate of change in total cost as output is increased by an infinitesimal amount. Both of these meanings are applicable in certain situations. The marginal cost is the slope of the total cost, which is the rate at which it increases with output. Figure 1 illustrates that the marginal cost is measured in dollars per unit, but the total cost is measured in dollars. There is a distinction between the marginal cost and the average cost, which is calculated by dividing the total cost by the number of units produced.


    How you will benefit


    (I) Insights, and validations about the following topics:


    Chapter 1: Marginal cost


    Chapter 2: Perfect competition


    Chapter 3: Supply and demand


    Chapter 4: Profit maximization


    Chapter 5: Break-even (economics)


    Chapter 6: Production function


    Chapter 7: Average cost


    Chapter 8: Marginal product


    Chapter 9: Diminishing returns


    Chapter 10: Economic cost


    Chapter 11: Marginal revenue


    Chapter 12: Marginal revenue productivity theory of wages


    Chapter 13: Cost curve


    Chapter 14: Total cost


    Chapter 15: Average variable cost


    Chapter 16: Average fixed cost


    Chapter 17: Long run and short run


    Chapter 18: Supply (economics)


    Chapter 19: Minimum efficient scale


    Chapter 20: Shutdown (economics)


    Chapter 21: Marginal product of labor


    (II) Answering the public top questions about marginal cost.


    (III) Real world examples for the usage of marginal cost in many fields.


    Who this book is for


    Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Marginal Cost.

    LanguageEnglish
    PublisherOne Billion Knowledgeable
    Release dateFeb 4, 2024
    Marginal Cost: Mastering Marginal Cost, The Key to Smart Economics

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