Those working in bars earned slightly more, with an average hourly wage of $9.84. Hosts and hostesses employed by hotel restaurants earned a significantly higher wage, averaging $10.95 per hour. The few hosts and hostesses employed by colleges and universities earned the highest wage, $12.85 per hour.
Definition of marginal value: The incremental value that is achieved through additional output. Marginal value exists through a product modification that results in an increase in price or an increase in unit production. The value ...
In economics, marginal cost is the change in the opportunity cost that arises when the quantity produced is incremented by one unit, that is, it is the cost of producing one more unit of a good. Intuitively, marginal cost at each level of production includes the cost of any additional inputs required to produce the next unit.