Marginal Cost In Supply & Demand Custom Essay

Topic: Marginal Cost In Supply & Demand

Supply-demand is a key principle in the production/consumption mechanism as it defines foundations to the understanding of a number of concepts, which shape the strategic position of firms in the microeconomic dimension of the economy. Marginal cost is a sub-unit of the supply demand principle, can be defined as the “measurement of the change in cost corresponding to a unit increase in production level” Elaborate an academic paper, which defines the “what if” of a radical change in the marginal cost role in production, by answering the following question: What changes can you envision to the real economy, should Rifkin’s vision of a zero marginal cost society, become reality? Note; The reading called “ Swarm Economics” is the companion report to use as a reference for this work.

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