The change in total factor cost resulting from a change in the quantity of factor input employed by a perfectly competitive firm. Marginal factor cost, abbreviated MFC, indicates how total factor cost changes with the employment of one more input. It is found by dividing the change in total factor cost by the change in the quantity of input used. Marginal factor cost is compared with marginal revenue product to identify the profit-maximizing quantity of input to hire.

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Our pedestrian's jaunt through the economy is not, unfortunately, an unrestrained shopping spree for confectioneries, spark plug tools, and Houston, Texas. We have other important errands to run. At the moment we need to hike over to Shady Valley's exclusive provider of cable television services, the Merciless Monolithic Media Masters Cable Television Company, Inc., to inquire about a mysterious fee that appeared last month's bill.

The good news is that the Merciless Monolithic Media Masters (the 4M people) Cable office is a mere 2 miles (3 kilometers for the metrically inclined) from the Shady Valley Central Town Sprawling Hills Shopping Mall. A hop, skip, and a moderately long jump later, our excursion through the economy takes us to the front door of the 4M Cable Television Company where I hope to discover why last month's cable bill included a $3,569 charge for something called "The Vacation Channel." I didn't even know I had a vacation channel. (But, I'm sure it's a great channel, and if I don't have it, then I will certainly subscribe. Please don't disconnect me.)

Of course, because this an afternoon workday, the doors of the 4M office are locked. I can almost make out, through the expensive stained glass windows, what appears to be several Merciless Monolithic Media Masters Cable Television employees, with champaign bottles in hand, dancing on expensive mahogany desks. Let's not disturb them. As they say in the cable business, an upset worker is a disconnected customer.
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Today, you are likely to spend a great deal of time surfing the Internet hoping to buy either a cell phone case or a pair of designer sunglasses. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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