How to calculate marginal costs | Seth David @Nerd Enterprises, Inc.
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As your business expands, understanding your production cost is key to finding the optimal profit margin to sustain sales and revenue increases. In this video, Seth David (@Nerd Enterprises, Inc.) defines what marginal cost is, how to calculate it, and how to pair it with your marginal revenue to determine the best production or pricing strategy.
00:00 - Introduction
00:40 - What is marginal cost?
01:23 - How to calculate marginal costs
01:33 - What is marginal revenue?
01:57 - How to calculate marginal revenue
02:12 - How to use marginal costs for business insights
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