Learn how to distinguish marginal costs by exploring their relationship with fixed and variable costs in production.

Marginal costs are defined as the actual cost of increasing production by one unit, or money saved by decreasing production by one unit. Marginal costs include all fixed costs, such as materials ...

Learn how monopolies maximize profits by equating marginal cost and revenue. Discover the economic principles guiding price and output decisions in monopoly markets.

A company's pricing strategy is never permanent. Business managers must continuously evaluate their pricing plan and make adjustments to changes in consumer wants, competitor actions and the economic ...