Marginal analysis was the heart of early Austrian economics and was quickly adopted into mainstream economics, where it is central to modern microeconomic analysis. Amazingly, many people in business ...

Much economic theory is based not on marginal analysis of totals but on analyzing the changes caused by increasing or decreasing those totals. Marginal cost is the increase in total costs resulting ...

A rational business's main goal is always to maximize profits. As complicated as business processes can be, the end goal always remains reaching the maximum profit. There are many ways a company has ...

There is a significant difference between cost and revenue. While both refer to amounts of money that are intrinsic to a company's livelihood, cost and revenue represent different aspects and stages ...