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Marginal cost is the cost associated with producing one additional item.
For example, if a company produces 100 widgets at a cost of $10 each, the marginal cost of producing the 101st widget is $10.
The difference in total production costs caused by creating or producing one extra unit is known as the marginal cost in economics. Divide the variation in production costs by the variation in quantity to determine marginal cost.
Finding the point at which an organisation can realise economies of scale to improve production and overall operations is the goal of marginal cost analysis. The producer may make money if the marginal cost of producing one extra unit is less than the price per unit.
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