Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Charlene Rhinehart is a CPA , CFE, chair of ...

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 ...

1. If marginal product is decreasing, then average product must also be decreasing. 2. For a fixed-proportion technology, inputs cannot be substituted for each other in production. 3. The marginal ...

Costs are a critical variable to consider when plotting business strategy. After all, if you can't recover the expenses required to create your product through revenue and profit, then the business ...

Introduction: Why Flare Gas Recovery Is Back at the Center of Energy Strategy. Gas flaring has re-emerged as a critical issue ...

CBSE Class 12 th Economic exam is scheduled for 13 th March 2020. In this article we have complied a list of important questions from Chapter 3 of Part A (Microeconomics): Production and Costs.

Every business has fixed costs, which play roles in determining break-even points. Businesses also have variable costs, which make finding the actual break-even point more difficult than in ...