In the catering industry, what is the term for the additional cost incurred to produce one more plate of food?

The term for the additional cost incurred to produce one more plate of food in the catering industry is called "marginal cost". Here are the steps to understand it:

1. Understanding the Concept: Marginal cost is an economic concept that industries use to measure the cost of producing one additional unit of a good or service. In the context of the catering industry, this would refer to the cost of producing one more plate of food.

2. Calculation: The marginal cost is calculated by taking the change in total cost that comes from producing one more unit of a good or service. In the case of the catering industry, it would be the difference in total cost when one more plate of food is produced.

3. Factors: The marginal cost in the catering industry could include the cost of additional ingredients, the labor cost for the time it takes to prepare and cook the additional food, and any additional utility costs (like water and electricity).

4. Importance: Understanding the marginal cost is important for businesses in making decisions about production levels. If the price they can charge for an additional plate of food is higher than the marginal cost to produce it, then it would be profitable for them to increase production.

5. Example: For instance, if a catering company spends $200 to produce 20 plates of food, the total cost per plate is$10. If producing a 21st plate costs an additional $12, then the marginal cost of the additional plate is$12.