Y2 13) Perfect Competition
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- Опубликовано: 13 мар 2019
- Y2 13) Perfect Competition. Video covering everything you need to know about Perfect Competition and a perfectly competitive market
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I felt my heart rate increase when I understood why perfectly competitive firms earn supernormal profits in the short run but not in the long run
same😭
Do you have the AQA exam next week? 😭
@@qwertymehta8342 yes😔😔😔😔
@@qwertymehta8342yup
@@qwertymehta8342 now it's tomorrow ;-;
you are. literally. the. best. Econ. teacher. in. the. whole. damn. world. ILY dude
that's how desperate us Eco students are
i guess im asking randomly but does someone know of a tool to get back into an instagram account?
I was dumb forgot the password. I would appreciate any tricks you can give me.
@Cody Dylan Instablaster :)
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Takes quite some time so I will reply here later with my results.
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Thanks so much you saved my ass!
This feels like watching Bob Ross paint "We get this *lovely* box"
👏🏼
A PhD's three hours' lesson(my teacher) is not as good as a ten mins' video on the RUclips !
You are really the best Economics teacher I have met so far ! Thumb up!
Your videos ARE SO GOOD. You are saving my A-Levels mate.
The Best Economics sir. I hated economics and thanks to you sir, it has become easy to learn these concepts and the theory behind them. Hats off sir.
That one dislike.. f whoever did that
Thankyou so much. These videos are incredibly helpful. Love that you tell the trick to draw the diagrams efficienctly too. You are doing god's work. LITERALLY.
I think that Sir explain this concept so much easier than my university Professor.
They make it so much easier to understand to a beginner in Econ.
Helped me get A* in A level and watching it again in master's. Best teacher for economics
What did you do for your bachelor's?
@@thesnackbanditstudied Bachelor's of Accounting. Did not need to watch it for economics course in Bachelor's since everything was fresh in my mind.
@@zaidali5660 👍
What would you recommed to do to get an a star in a level econ (apart from econplusdal). I'm sitting my exams this may :).
@@Zainali-jk3ijaired. Enjoy dat tomorrow
So clear and easy to understand. Gave me a 100% clarity of thought!. Thanks....
This Teacher is the best, i love watching his videos .
you are honestly the best econ teacher ive ever come across
thank you so much! you have no idea how much this helped!!!
Best videos on the internet regarding the topics. Best of luck !
You explained it in a very simple way thank you so much!!
Thank you dal, You are wonderful💖
one of your best yet !
Best economics video I've seen to date! Appreciate it!
THANK YOU SO MUCH!!! You are really the best!
This was such an amazing lecture. Thank you
this man, you are the best person to exist in our lives forever
i have my economics exam in 2 days and this helped so much!!
You are so clear on the topic
Thank you sir👍🏻
YOU ARE THE BEST ECONOMICS TEACHER EVER!!! LOVE YOU MAN 💞💞
You are wonderful man.....thanks alot ...may God bless uh...
What a stunning graph
I understand the process.thanks a lot.
Best economics teacher in the world!!!!
It all makes sense now😩 thanks babes
That was wonderful!
1. PRICE TAKERS horizontal line
2. AC Curve below AR as it is supernormal
3. Profit max = mc=mr
The best economics teacher on youtube
Thanks a lot Dal, you saved my life lol
you're such a legend
You're amazing!
Nice one Dal! Thanks!
The 16 people that disliked only watched this video, did no practice, and then got mad about their 4
you're the best teacher
u are amazing tysm i love u
thank you so much !!!
THANK YOU SO MUCH
greates of all time lets go!!!
your content is amazing
Thank you sooo sooo muchhh
EconplusDal, I love you.
THANK YOU
He’s a master!
I have a 20 mark test tmw and I dont know this at all. Lets hope Econplusdahl can save me
Hi econplusdal, it would be highly appreciated if you can do exactly the same video on monopolistic competition, oligopoly and monopoly :)
He has already
I LOVE U MAN
THANKS VERY MUCH
thank you!!
I need you to come write my economics paper for me !!! You are too good !!! Enjoyed the lecture as usual ❤. Thanks
you and me both brother
Well explained ❤😊
The work rate is 🔥 7 hour Workshop at my school and then a video the next day 👏
you are so helpful
Many thanks.
Decent Video!!
You are a guru
god im such a nerd. Love this!
Thank you
Thank you very much, I truly appreciate your support :)
life saver
my goat
Thanks
Sir ..there is question that how the perfect competition is measured profit and losses without using average cost curve?
thank u genius
well explained
Yes, you are literally writing my essay for me :D
i want a piece of that pi !!!
Deiyek bro
Reason behind the shape of cost curve in both markets( perfect and imperfect markets ya smja dain
eval for perfect competition : PC is a theoretical concept made up by economists and is seen nowhere it the real world , question wether this model is even applicable / should be spoken about due to no credit IRL , and is the total opposite of a monopoly . Hope this helped !
Wow
❤️
Danke
do we need to know about subnormal profits (AQA) I've not been taught it
I love you
Is this good for the IB course in 2024 for Economics?
Please give tips for alwvel p4
this is the unhappiest ive ever been at school before.
Hi Mr Pegg!
Hello, thank you for all the wonderful videos, in this video at 5:42 you refer to a diagram you had shown before, could you please point out which diagram / video is that, TIA.
Probably monopolistic competition
Is this the same wit business studies ?
Would you recommend doing the 25 marker first in the AS exam?
Well it would be something I would do
Humza20O1 no because you’ll end up spending too much time on the 25 marker trying to make it perfect then missing time for quick multiple choice questions. If you’re running out of time on the 25, then just make sure you put in some eval even if you haven’t finished the analysis because it is level marked and you’ll get maximum of 6 marks with no eval.
Q1,Q2,Q3,Q4 they all haven't different quality. Please explain, Q4 profit max position. But Q1,Q3 ?...
Good thank you. Here I have explained Economics concepts in Malayalam. All are welcome
man like Dal una
For perfect competition: average revenue, AR=(PxQ)/Q=P=MR and profit=TR-TC= (AR-AC) x Q
why would it be such a bad idea to reduce price in a perfectly competitive market
They will make a loss because Average Cost is more than Average Revenue. This causes a economic loss in the short run.
You make a loss and can't continue to supply at this price without shutting down.
In the long run, firms in a perfectly competitive market make normal profit which is the minimum level of profit in order to survive in the long term. Decreasing price will simply mean the firm doesn't make normal profit and has to shut down.
What does the c stand for in the diagrams?
costs... so mc= marginal costs , ac=average costs
ur fucked
man's gonna get a D in economics
@@fr-it6iw I got predicted 7 in IB econ and I didn’t know what c stood for so stfu
Does anyone know why price is equal to demand which is equal to marginal revenue and average revenue? I know that it has to do with the fact that it is perfectly elastic, but I'm not sure
1. Price = Average Revenue
2. Because firms take the market equilibrium price and can't deviate from it, the AR = MR (seeing as the revenue from each extra unit sold will be the same as price)
3. Price = MR
4. Demand simply shows that at each price, how much quantity will be demanded.
5. AR=MR=D
econPLUGdal
Would you say 3 good PEACH paragraphs is good for a 25 marker? Thanks
Is this degree or A-level? M.
Did an A-level lesson on this today; guessing it is A-level content. Seems too straightforward for degree.
I my exams tomorrow and I have a feeling I am going to write MC is equal to Emma 😂
9:10
Yee to the Haw 😂😂
dababy sussy amogus
without monopoly they can't be dynamically efficient so market cant progress because no money to reinvest, monopoly solves that