Marginal cost refers to the change in total cost arising from the production of one additional unit. For example, in a manufacturing firm, the marginal cost will give a measure of the change in total ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Journal of Economics, Vol. 81, No. 2 (2004), pp. 155-192 (38 pages) This contribution is the first systematic attempt to develop a series of nonparametric, deterministic technologies and cost ...

Information about costs of water pollution control is a principal ingredient in any policy, implementation, or enforcement decision. Although cost analysis is necessary for decision making, there is a ...