Marginal wells remain an important segment of US oil and gas production operations. In its latest report, the Interstate Oil and Gas Compact Commission (IOGCC) estimated that these wells in 2005 ...

Fixed-path methods (FPMs) were introduced to manage situations where several individuals jointly operate a single technology (see Math Soc Sci 44:145-154 (2002)). In the production context, they ...

Marginal cost helps predict company profit by analyzing cost to produce extra units. Investors use the gap between marginal cost and revenue to assess profitability. Technology firms, due to low ...

In the final part of this series, we estimate the number of committed assets in the Gulf of Mexico that are expected to be marginal over a 60-year horizon. Our sample set includes all producing ...

The law of diminishing returns is a concept of economics that every entrepreneur should understand. Also known as the law of diminishing marginal returns, this law helps entrepreneurs and economists ...

Drive through Stark County and you’ll see some of the 3,100 oil and natural gas wells that dot residential neighborhoods and farm fields alike. Nearly all of the wells are small conventional wells, ...

A company's marginal product of labor is the number of additional products it can produce by hiring one additional worker. A company's marginal revenue product of labor is the amount of additional ...

Decisions on whether to increase production can usually be boiled down to a simple question of costs vs. benefits: Will the extra money you make from increasing your output be worth the additional ...

Marginal cost is the added expense of producing one more unit. A horizontal marginal cost curve indicates consistent production costs. Businesses may aim to maintain horizontal costs to stabilize ...