Y2 13) Perfect Competition
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- Опубликовано: 26 сен 2024
- Y2 13) Perfect Competition. Video covering everything you need to know about Perfect Competition and a perfectly competitive market
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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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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.
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 ;-;
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
That one dislike.. f whoever did that
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.
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.
YOU ARE THE BEST ECONOMICS TEACHER EVER!!! LOVE YOU MAN 💞💞
i have my economics exam in 2 days and this helped so much!!
So clear and easy to understand. Gave me a 100% clarity of thought!. Thanks....
U and Adil sir are literally the best eocnomics teacher and no other can surpass you both
This Teacher is the best, i love watching his videos .
The best economics teacher on youtube
you are honestly the best econ teacher ive ever come across
The 16 people that disliked only watched this video, did no practice, and then got mad about their 4
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
one of your best yet !
Hi econplusdal, it would be highly appreciated if you can do exactly the same video on monopolistic competition, oligopoly and monopoly :)
He has already
Best economics video I've seen to date! Appreciate it!
This dude has supernormal profit for long run. Thanks
Thank you dal, You are wonderful💖
You explained it in a very simple way thank you so much!!
thank you so much! you have no idea how much this helped!!!
This was such an amazing lecture. Thank you
god im such a nerd. Love this!
You are so clear on the topic
Thank you sir👍🏻
You are the best I salute you 🙏
Thanks a lot Dal, you saved my life lol
Nice one Dal! Thanks!
I understand the process.thanks a lot.
THANK YOU SO MUCH!!! You are really the best!
EconplusDal, I love you.
I have a 20 mark test tmw and I dont know this at all. Lets hope Econplusdahl can save me
You are wonderful man.....thanks alot ...may God bless uh...
What a stunning graph
you're the best teacher
It all makes sense now😩 thanks babes
That was wonderful!
you're such a legend
May you live long
greates of all time lets go!!!
Sir ..there is question that how the perfect competition is measured profit and losses without using average cost curve?
You're amazing!
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.
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 !
I LOVE U MAN
Thank you very much, I truly appreciate your support :)
I love you
The work rate is 🔥 7 hour Workshop at my school and then a video the next day 👏
THANK YOU
your content is amazing
this is the unhappiest ive ever been at school before.
For perfect competition: average revenue, AR=(PxQ)/Q=P=MR and profit=TR-TC= (AR-AC) x Q
life saver
Q1,Q2,Q3,Q4 they all haven't different quality. Please explain, Q4 profit max position. But Q1,Q3 ?...
dababy sussy amogus
Reason behind the shape of cost curve in both markets( perfect and imperfect markets ya smja dain
Thank you sooo sooo muchhh
u are amazing tysm i love u
Well explained ❤😊
THANK YOU SO MUCH
You are a guru
do we need to know about subnormal profits (AQA) I've not been taught it
you are so helpful
Decent Video!!
thank you!!
Many thanks.
Good thank you. Here I have explained Economics concepts in Malayalam. All are welcome
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.
Please give tips for alwvel p4
Is this good for the IB course in 2024 for Economics?
Hi Mr Pegg!
my goat
THANKS VERY MUCH
well explained
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
thank u genius
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
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.
Deiyek bro
i want a peice of your pie Mr dal 4:53
Danke
Is this the same wit business studies ?
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
I my exams tomorrow and I have a feeling I am going to write MC is equal to Emma 😂
Thanks
without monopoly they can't be dynamically efficient so market cant progress because no money to reinvest, monopoly solves that
Wow
man like Dal una
9:10
Yee to the Haw 😂😂
❤️
Would you say 3 good PEACH paragraphs is good for a 25 marker? Thanks
Daddy Dal
4:50
I DIEDDDDDDD
bruh
L u baby
HELLO KAITO
Hey SB
Kaito Todo #nopizzaparty
Period7>"Pizza party"
can you speak Hindi? I'd love to see you speaking in Hindi. Love from India!
why do firms continue in perfect comp if they are only making normal profits
the concept of satsficing; even if firms achieve 'okay' outcomes, they are still profitable and can operate healthily. besides, not only are abnormal profits rare, but they are unsustainable - hence why they only occur in the short-run. like Dal said, if rival firms see that other firms in an industry are making abnormal profits, these rival firms will transfer to this industry, and supply will shift rightwards. thus, price will decrease, and abnormal profits will be eradicated. that process continues.