For example, a consumer might buy a certain ... or escalating production costs (i.e., diminishing marginal product for production). All of these laws are related to the concept of economies ...

Marginal benefit is an incremental change in a consumer's benefit, while marginal cost is an incremental change in a company's production expense.

Learn More Diminishing Marginal Returns vs. Returns to Scale: What's the difference? What are some examples of the Law of Demand? One example of the law of demand is how a store may sell more ...