marginal cost
insignificant cost, small expense; increase or decrease in total cost as the result of a change in the number of output units
Marginal cost
In
economics and
finance, marginal cost is the change in
total cost that arises when the quantity produced changes by one unit. Mathematically, the marginal cost (MC) function is expressed as the
derivative of the
total cost (TC) function with respect to quantity (Q). Note that the marginal cost may change with volume, and so at each level of production, the marginal cost is the cost of the next unit produced.
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marginal cost
Noun
1. the increase or decrease in costs as a result of one more or one less unit of output
(synonym) incremental cost, differential cost
(hypernym) monetary value, price, cost
Marginal cost
The increase or decrease in a firm's total cost of production as a result of changing production by one unit.
Marginal Cost
the change in total cost that results from producing an additional unit.
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