cost,revenue

[boney]

what is the diifferencc between average cost & marginal cost

[BenDToy]

If you want a detailed explanation I can't help, but for a simple one....Average cost is the total cost divided by the number of units produced/sold. Marginal cost is the additional cost of selling/producing one additional one. Marginal cost will normally be lower, because many of the costs do not increase for the marginal item - for example your fixed overheads are already paid, and do not increase for this item.