The world of microeconomics and business decision-making hinges upon a key concept: marginal cost. In the simplest terms, marginal cost represents the expense incurred to produce an additional unit of ...

Labor can account for the largest expense of manufacturing products. You should always keep track of your labor cost per unit to make sure that wages are not growing faster than profits. To do this, ...

Understanding the cost of each unit you produce is essential to ensure your business remains profitable. To calculate the cost per unit, add all of your fixed costs and all of your variable costs ...

Today’s economic uncertainty is leaving CEOs with little choice but to cut large line-item costs, reduce their workforce and reexamine their unit economics—their overall “cost to revenue ratio”—in ...

Last month, we discussed how you could get better control of the equipment you own and rent. This month, we’re going a step further by offering up a couple of ways to collect and analyze the data.