The marginal propensity to consume (MPC), or the ratio of the change in aggregate consumption compared to the change in aggregate income, is a key component of Keynesian macroeconomic theory. In the ...

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 ...

Much about today’s inflation is not well understood. Why are some households seriously harmed while others barely feel inflation’s impact, and may even benefit? How is the battle against inflation ...