Understand the link between total and marginal revenue, their differences, and how to calculate marginal revenue effectively. Learn when a company should adjust production.

Marginal pricing is when a business sells a product at a price that covers its manufacturing costs but not its overhead. The benefit of marginal pricing is that the lower price point increases ...

A company's marginal product of labor is the number of additional products it can produce by hiring one additional worker. A company's marginal revenue product of labor is the amount of additional ...

Marginal analysis was the heart of early Austrian economics and was quickly adopted into mainstream economics, where it is central to modern microeconomic analysis. Amazingly, many people in business ...

Q: How much is my house worth? A: Whatever the highest bidder is willing to pay for it. Those of you who took an introductory Economics class in high school or college may remember learning that ...

Understand the key differences between marginal utility and marginal benefit—how they affect pricing, consumer behavior, and decision making in economics.

Marginal cost is the added expense of producing one more unit. A horizontal marginal cost curve indicates consistent production costs. Businesses may aim to maintain horizontal costs to stabilize ...

Ronan Bolton receives funding from the UK Energy Research Centre. A key feature of liberalised power markets is marginal cost pricing. Gas-fired power is often the most expensive source of electricity ...