Marginal cost is the change in cost to produce one additional unit. A horizontal marginal cost curve indicates stable costs for additional units. Companies aim to maintain this to minimize variability ...

Decision-making is a virtue. Leaders of character must have the courage to accept the risk and make the best decisions they ...

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 ...

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 ...

Reader MJ argues that the Laffer Curve remains important because even if we're not actually maximizing tax revenue, it offers an insight into the economic cost of taxation: "I also take it to mean ...

Judging from all the cheering going on among Obamacare enthusiasts--including the usual suspects such as Paul Krugman as well as the president himself--you would think Obamacare had bent the cost ...

Several days ago, Tyler Cowen triggered some righteous rage for suggesting that the administration's promises to cut health care costs "runs the risk of becoming the new voodoo economics". He was ...

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 ...