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Definition of Marginal cost
1. Noun. The increase or decrease in costs as a result of one more or one less unit of output.
Definition of Marginal cost
1. Noun. 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. ¹
¹ Source: wiktionary.com
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Lexicographical Neighbors of Marginal Cost
Literary usage of Marginal cost
Below you will find example usage of this term as found in modern and/or classical literature:
1. Energy Policies of IEA Countries by International Energy Agency (2004)
"Figure 21 shows the marginal cost of production in the Nordic electricity system.
Prices in a given year are largely dictated by the production levels at ..."
2. Paying for Highways, Airways, and Waterways: How Can Users Be Charged (1993)
"The Prescription for Efficiency: Set Price Equal to marginal cost To achieve
efficiency, the price of a service should equal its marginal cost-or, ..."
3. Mega-City Growth and the Future by Roland J. Fuchs (1994)
"If the price exceeds the marginal cost of service provision, then the benefit of its
... By the same argument, when the price is lower than marginal cost, ..."
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