marginal cost meaning
ENWMarginal cost
- In economics, marginal cost is the change in the total cost that arises when the quantity produced has an increment by unit. That is, it is the cost of producing one more unit of a good.
- The graph is plotted with Price, Cost and Revenue on the Y-axis and Quantity on the X-axis.
- If the good being produced is infinitely divisible, so the size of a marginal cost will change with volume, as a non-linear and non-proportional cost function includes the following:
- variable terms dependent to volume,
- constant terms independent to volume and occurring with the respective lot size,
- NounPLmarginal costs
- The increase in cost that accompanies a unit increase in output; the partial derivative of the cost function with respect to output. Additional cost associated with producing one more unit of output.
- The increase in cost that accompanies a unit increase in output; the partial derivative of the cost function with respect to output. Additional cost associated with producing one more unit of output.
Definition of marginal cost in English Dictionary
- Part-of-Speech Hierarchy
- Nouns
- Countable nouns
- Countable nouns
- Nouns
Source: Wiktionary
Grammatically, this idiom "marginal cost" is a noun, more specifically, a countable noun.