Marginal Cost vs Average Cost - Economics 101

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In this video I look further into economics and show that the average cost of producing one item when x items are produced is minimum when the average cost equals the marginal cost. This is an important principle to understand and it is easily derived using the calculus principles that I have covered in my previous videos.

Related Videos:

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  1. Math Easy Solutions
  2. average costs
  3. average cost
  4. economies of scale
  5. economics of scale
  6. cost to produce one more item
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I don't always go over the marginal cost but when I do I usually compare it with the average cost ;)

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