The world of microeconomics and business decision-making hinges upon a key concept: marginal cost. In the simplest terms, marginal cost represents the expense incurred to produce an additional unit of ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Being able to determine the behavior of your business costs gives you a better chance to develop methods to control them. While learning these terms may take a little time, the added benefit of ...

Both in the mathematical sense and in the business world, an independent variable is one that stands alone and is not affected by outside forces. When it comes to evaluating cost in business, ...