Marginal benefit and marginal cost are two measures of how the cost or value of a product changes. Marginal benefit impacts the customer, while marginal cost impacts the producer. Companies need to ...

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 ...