The marginal product of labor is a variable used in economic theory. This variable quantifies the additional output produced by adding an additional unit of labor. The value of this variable is ...

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 ...

Marginal revenue measures extra income from producing one more unit. Compare marginal revenue and cost to decide on production adjustments. Track marginal revenue changes to set optimal production and ...

The law of diminishing returns is a concept of economics that every entrepreneur should understand. Also known as the law of diminishing marginal returns, this law helps entrepreneurs and economists ...

Costs are a critical variable to consider when plotting business strategy. After all, if you can't recover the expenses required to create your product through revenue and profit, then the business ...

Effective and marginal tax rates might not be familiar terms. However, they’re essential concepts to understand because they determine how much income you’ll have to fork over to the government every ...

Marshall Hargrave is a stock analyst and writer with 10+ years of experience covering stocks and markets, as well as analyzing and valuing companies. Somer G. Anderson is CPA, doctor of accounting, ...

Andriy Blokhin has 5+ years of professional experience in public accounting, personal investing, and as a senior auditor with Ernst & Young. In microeconomics, utility represents a way to relate the ...

Marginal cost helps predict company profit by analyzing cost to produce extra units. Investors use the gap between marginal cost and revenue to assess profitability. Technology firms, due to low ...