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6 terms

marginal analysis (Calculus)

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Marginal Cost
Marginal Cost is C'(x)
Marginal Revenue
(Number on Unit)(Price) then take derivative
Cost of Producing unit
Plug the unit before. example if you need the cost of producing the 9th unit you'd do C'(8)
Actual Cost
To find actual cost of producing the 9th unit you do C(9)-C(8)
Revenue obtained
To find revenue obtained of the 9th unit is approximated be R'(8)
Actual Revenue Obtained
R(9)-R(8)