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Marginal cost
noun
The increase in cost that accompanies a unit increase in output; the partial derivative of the cost function with respect to output. Additional cost associated with producing one more unit of output.
Exact(60)
Marginal cost to purchase machine type m.
Marginal cost to purchase machine type m under scenario s.
"The marginal cost of distribution is zero".
Economists call this the "marginal" cost.
The constant marginal cost is c.
This was marginal revenue hitting marginal cost.
What if Pepsi prices at marginal cost?
Firm 1 is pricing at marginal cost, the best response if the other guy is pricing at marginal cost is to price at marginal cost or above.
Professor Ben Polak: It's where marginal revenue equals marginal cost.
It's where marginal revenue equals marginal cost, right?
Prices below marginal cost emerge naturally to sustain experimentation.
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