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 ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Charlene Rhinehart is a CPA , CFE, chair of ...

The high-low method is used in cost accounting to estimate fixed and variable costs based on a business's highest and lowest levels of activity. By focusing on these extremes, the high-low method ...

Many words in the industry have multiple meanings and can sometimes get people’s heads in the wrong place. Cost of production, peer groups, transition planning and business structure are a few of them ...

Calculating the cost of goods sold gives a business insight into its performance and helps calculate profit. Many, or all, of the products featured on this page are from our advertising partners who ...

Livestock owners can save money and time with an awareness of the economics behind harvesting, buying and selling hay. Eric DeVuyst, Oklahoma State University Extension agricultural economist, said ...