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Cost Analysis
Cost Analysis
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Definitions
Private Cost
Economics
Microeconomics
Cost Analysis
Private Cost
The cost incurred by individuals or firms to provide goods or services, excluding external harms unless legally obligated.
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Definitions
Average Cost
Economics
Cost Analysis
Production
Total cost of production divided by quantity produced, combining both average fixed cost and average variable cost.
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Definitions
Diseconomies of Scale
Economics
Production
Cost Analysis
Understanding the concept of diseconomies of scale in economics.
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Definitions
Full Cost Pricing
Pricing
Economics
Cost Analysis
A method of pricing that covers average costs at normal production levels with an added conventional mark-up.
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Definitions
Long-Run Average Cost
Long-Run Average Cost
Economics
Cost Analysis
Production Economics
Definition and explanation of long-run average cost (LRAC) in economics.
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Definitions
Marginal Cost
Economics
Marginal Cost
Cost Analysis
The additional cost incurred from an increase in an activity.
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Definitions
Marginal Private Cost
Economics
Cost Analysis
Microeconomics
The increase in private cost resulting from a marginal increase in an activity, excluding any external effects.
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Definitions
Marginal Social Cost
Economics
Social Cost
Externalities
Cost Analysis
The increase in social cost resulting from a marginal increase in an activity, including all external effects.
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Economics Terms Lexicon
Ultimate Dictionary of Economics and Beyond.
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