Editing Marginalism (section)

=== Marginal cost ===
{{Main|Marginal cost}}
At the highest level of generality, a marginal cost is a marginal [[opportunity cost]]. In most contexts, marginal cost refers to marginal ''[[Money|pecuniary]]'' cost, that is to say marginal cost measured by forgone money.

A thorough-going marginalism sees marginal cost as increasing under the law of diminishing marginal utility, because applying resources to one application reduces their availability to other applications. Neoclassical economics tends to disregard this argument, but to see marginal costs as increasing in consequence of [[diminishing returns]].