The marginal product of labor is a variable used in economic theory. This variable quantifies the additional output produced by adding an additional unit of labor. The value of this variable is ...

Finding the right price for your goods and services is essential to maximizing your revenues, and one of the key factors in making this determination entails using price elasticity to predict marginal ...

Marginal revenue measures extra income from producing one more unit. Compare marginal revenue and cost to decide on production adjustments. Track marginal revenue changes to set optimal production and ...

The law of diminishing returns is a concept of economics that every entrepreneur should understand. Also known as the law of diminishing marginal returns, this law helps entrepreneurs and economists ...

Marshall Hargrave is a stock analyst and writer with 10+ years of experience covering stocks and markets, as well as analyzing and valuing companies. Somer G. Anderson is CPA, doctor of accounting, ...

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 ...

Marginal cost helps predict company profit by analyzing cost to produce extra units. Investors use the gap between marginal cost and revenue to assess profitability. Technology firms, due to low ...