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What is the marginal cost of production?

Management Dictionary
Organizational Theory, Strategic Management

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The marginal cost of production describes the change in total cost when output is increased by one unit, playing a crucial role in production and pricing decisions. It helps assess the profitability of producing an additional unit and guides decisions on expanding or reducing production, as well as determining the optimal price. This concept is linked to marginal revenue and marginal profit, providing a framework for evaluating the profitability and efficiency of production processes.

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Keywords

break-even point, cost analysis, marginal profitability

Author(s)

BESANGER Serge

Professeur

INSEEC-U

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