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 ...

Accurate cost measurement is critical to properly pricing goods or services. Businesses with accurate cost measurement know whether they are making a profit on current goods and know how to judge ...