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The main difference between standard cost and marginal cost is that in standard cost a target is set and in marginal cost there is no target set. Marginal cost is the change of the total cost due to the quantity produced.

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Reynold Berge

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โˆ™ 2021-08-07 11:38:20
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Q: What is the difference between marginal cost and standard cost?
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Relationship between marginal cost and variable cost?

Variable cost refers to the TOTAL variable cost of all units, whereas marginal cost is the variable cost of the last unit only. Variable cost is the sum of all the individual marginal costs. The derivative of the Variable Cost is the Marginal Cost. The integral of the Marginal cost is the Variable Cost.


How do you find marginal average cost?

There is marginal cost and there is average cost but a marginal average cost makes no sense.


How will equilibirium be determined under discriminating monopoly inefficient and wasteful?

It will be so because it will not achieve a social equilbrium of marginal benefit (demand) = marginal cost (supply). It will instead set a private profit equilibrium where private benefit (marginal revenue) = marginal cost and thus create a deadweight inefficiency equal to the difference in total social surplus between the regions.


What is marginal cost funding means?

Marginal Cost funding is the difference in balances when changing a funding rate. An example would be: A. I have 1 Million dollars at 3% and want to change my funding rate to 2%. When I do this I should expect some rate sensitive money to leave due to the lower rate. Let's say that 50% of the money leaves and now there is 500k at 2%. The marginal cost is the difference between these two options. It could be an added cost or as in this example a marginal effect that is a cost savings, but also a lost funding balance of 500k.


How does relationships between marginal cost and marginal benefits impact producers?

It helps producers decide how much of a good to make.

Related questions

What is the differences between standard cost and marginal cost?

The main difference between standard cost and marginal cost is that in standard cost a target is set and in marginal cost there is no target set. Marginal cost is the change of the total cost due to the quantity produced.


What is the difference between price and average cost?

marginal cost


What is marginal profit?

In economics, marginal profit is the difference between the marginal revenue and the marginal cost of producing an additional unit of output.


Difference between cost of debt and marginal cost of debt?

Cost of debt is the original cost of borrowing including original interest rate Marginal cost of debt is new loan which extended from the previous one, the interest of which is called marginal cost of debt.


What Relation between marginal cost and average cost?

relation ship between average cost and marginal cost


What is the difference between unit cost and cost per unit?

nit cost is the average cost of making a product and cost per unit is the marginal cost


Difference between standard cost actual cost and normal cost?

prices


What is the difference between opportunity cost and marginal cost?

opportunity cost refers to the satisfaction of ones want at the expense of another want while marginal cost is the addition to total cost as a result of increasing output by one unit.


What is the marginal cost of the 8th unit of output?

it is the difference between the total cost of producing 8 units and 7 units of output.


Difference between histotical cost and standard cost?

Standard cost is the cost which is basis to measure the actual cost historical cost is the initial cost


The difference between actual and standard cost caused by the difference between the actual quantity and the standard quantity is called the?

The difference between actual quantity and standard quantity is called the material quantity variance.


What is the relationship between marginal physical product MPP and marginal cost MC Provide an examples?

what is the relationship between marginal physical product and marginal cos

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