marginal cost
/ˌmɑːrdʒɪnəl ˈkɒst/
the cost of producing one additional unit
marginal cost in a sentence
“Firms maximize profit where marginal cost equals marginal revenue.”
Origin of marginal cost
From marginal (Latin margo edge) + cost
Related Words
equilibrium
a state where supply equals demand
scarcity
the fundamental economic problem of unlimited wants and limited resources
utility
the satisfaction or benefit derived from consuming a good
monopoly
a market with only one seller
oligopoly
a market dominated by a few large sellers
perfect competition
a market with many buyers and sellers trading identical products