Define exemplify. exemplify synonyms, exemplify pronunciation, exemplify translation, English dictionary definition of exemplify. tr.v. exÂ·emÂ·pliÂ·fied , exÂ·emÂ·pliÂ·fyÂ·ing , exÂ·emÂ·pliÂ·fies 1. a. To illustrate by example: exemplify an argument. b. To serve as an example of: scenes that...
The law of increasing costs, a commonly held economic principle, states that an operation running at peak efficiency and fully utilizing its fixed-cost resources, will experience a higher cost of production and decreased profitability per output unit with further attempts at increasing production.
Lesson Summary. Marginal cost is the increase or decrease in total production cost if output is increased by one more unit. The formula to obtain the marginal cost is change in costs/change in quantity.ey Concepts of Marginal Costs. Marginal cost is the increase or decrease in the total cost a business will incur by producing one more unit of a product or serving one more customer.