The Concept of Marginal Cost in Economic Theory

Abstract: This 6 page paper explains the concept of marginal costs and how they are used in economic theory. The writer looks at the relationship of marginal costs to average total costs and optimum production levels as well how this can be used in conjunction with the theory of supply and demand in order to set prices and keep production at optimum levels. The bibliography cites 3 books.

Filename: TEmrgcst.wps

Pages: 6

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Catagory: Money & Banking / Corporate Finance

Subcatagory: Accounting & Personal Finance

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