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 ...

Researchers at the National Renewable Energy Laboratory (NREL) are helping federal facility owners and resilience planners more easily estimate electric grid outage costs at their sites using the ...

Prime costs are all of the costs that are directly attributed to the production of each product. Prime costs are direct costs, meaning they include the costs of direct materials and direct labor ...

You can easily find the annual cost estimates of your appliances. But those numbers are based on averages, not your actual usage. Here’s how to calculate a better figure for how much your appliances ...

Procurement jumped to the forefront of every business leader’s mind during the pandemic. Images of container ships lined up at the Port of Long Beach and run aground in the Suez Canal were a stark ...