Introduction: In the context of measuring changes, the notion of marginality is used in economics to indicate the derivative.
Definition: In economics the derivative y′(x) of a function y(x) is called the marginal change of the function y(x).
Example: Let C(x)=5x3−10x+12 be a cost function. Then the marginal cost function is given by MC(x)=C′(x)=15x2−10.
Definition: In economics the derivative y′(x) of a function y(x) is called the marginal change of the function y(x).
Example: Let C(x)=5x3−10x+12 be a cost function. Then the marginal cost function is given by MC(x)=C′(x)=15x2−10.