Businesses and their customers constantly balance costs and benefits. A customer comparing menu prices decides which meal will give him the most pleasure for the price. Business production goals must ...

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 ...

In our first blog post on basic economic concepts, we wrote about opportunity cost. Another basic concept central to economic analysis is the concept of marginal cost (as well as marginal revenue and ...

Marginal benefit, at its core, is about understanding the added value we receive from consuming one more unit of a good or service. It’s a fundamental concept in economics that helps us make rational ...

Understand the link between total and marginal revenue, their differences, and how to calculate marginal revenue effectively. Learn when a company should adjust production.

Marginal revenue measures extra income from producing one more unit. Compare marginal revenue and cost to decide on production adjustments. Track marginal revenue changes to set optimal production and ...

If your business produces 2,000 pairs of jeans every quarter and sells them for $100 each, you might think that selling 20 more pairs will bring in an extra $2,000. But it isn’t always so ...

The Marginal Cost of Funds based Lending Rate (MCLR) system was introduced by the Reserve Bank to provide loans on minimal rates as well as market rate fluctuation benefit to customers. This new ...