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 ...

This is a preview. Log in through your library . Abstract This paper analyses the relationship between traffic volume and maintenance costs, and derives estimates for the cost elasticity and the ...

Marginal cost refers to the change in total cost arising from the production of one additional unit. For example, in a manufacturing firm, the marginal cost will give a measure of the change in total ...