The world of microeconomics and business decision-making hinges upon a key concept: marginal cost. In the simplest terms, marginal cost represents the expense incurred to produce an additional unit of ...

Learn about friction cost to make better informed decisions: its implications in investments and loans, and how it helps assess the true cost of financial transactions.

Cost-efficiency analysis estimates the ratio of program costs to outputs created, allowing you to compare cost-per-output for programs which all produced the same output. Such analysis is useful when ...

Jennifer Simonson is a business journalist with a decade of experience covering entrepreneurship and small business. Drawing on her background as a founder of multiple startups, she writes for Forbes ...