marginal production costs
1costs — Ⅰ. costs [plural] (also legal costs) ► LAW the money that helps pay for the lawyers and the court in a legal case, usually paid by the person or organization that has lost the case: »They were fined $50,000 and ordered to pay $10,000 in costs. →… …
2marginal producer — ➔ producer * * * marginal producer UK US noun [C] ► ECONOMICS a company, country, etc. that produces a small amount of a product or crop with high production costs and little or no profit: »Political uncertainty in some of the world s largest… …
3Marginal cost — A typical marginal cost curve with marginal revenue overlaid In economics and finance, marginal cost is the change in total cost that arises when the quantity produced changes by one unit. That is, it is the cost of producing one more unit of a… …
4production, theory of — ▪ economics Introduction in economics, an effort to explain the principles by which a business firm decides how much of each commodity that it sells (its “outputs” or “products”) it will produce, and how much of each kind of labour, raw… …
5Production–possibility frontier — In economics, a production–possibility frontier (PPF), sometimes called a production–possibility curve or product transformation curve, is a graph that compares the production rates of two commodities that use the same fixed total of the factors… …
6Production-possibility frontier — In economics, a production possibility frontier (PPF) or “transformation curve” is a graph that shows the different rates of production of two goods that an economy (or agent) could efficiently produce with limited productive resources. Points… …
7Production function — Graph of Total, Average, and Marginal Product In microeconomics and macroeconomics, a production function is a function that specifies the output of a firm, an industry, or an entire economy for all combinations of inputs. This function is an… …
8Marginal Social Cost - MSC — The total cost to society as a whole for producing one further unit, or taking one further action, in an economy. This total cost of producing one extra unit of something is not simply the direct cost borne by the producer, but also must include… …
9marginal cost of production — marginal cost marginal cost, marginal cost of production marginal cost of production . (Economics) The increase in total cost of production as a result of producing one more unit of output; since certain ovrhead costs are fixed, the marginal cost …
10marginal cost — marginal cost, marginal cost of production marginal cost of production . (Economics) The increase in total cost of production as a result of producing one more unit of output; since certain ovrhead costs are fixed, the marginal cost is almost… …
