i spent 4 months sitting in a lecture where my prof read off a powerpoint filled with errors, when i could've been watching this...thank you, you gave me some hope on my final!
Thanks once again for your reply. You have been very kind in uploading all these videos for the benefit of others. I have been following the series with much interest. However, I couldnt find Episodes 29 & 30, and 35 and beyond. I seriously hope that you havent stopped uploading. Pls do upload these if possible. Thanks
That's particularly for the part where I'm comparing the monopoly to the competitive market; in the perfect competition model, it's the MC curve that shows the quantities supplied at each price level, so in the end, the MC curve ends up tracing out the firm's supply.
I was searching for microeconomics videos and your's looked the coolest with the cartoons. Pair that with your pleasant voice and I'm retaining more than I would have in class. Thak you for making these videos!!!!!
Thanks so much, I'm at Australia's best university and world recognised and yet your explainaion has helped me so much. I was so confused. Thanks so much!!!!!!! Really appreciate your help. Take care
I like the castle with the alligator and dragon. The illustrations are simple, yet effective. Economics could be a very boring subject, but you make it interesting.
@milh467 Most charts like this actually have zero as the starting quantity, in which case I haven't started selling anything yet, so I can't talk about added revenue yet (hence the dash). In this video, I start with the very first unit sold, so previously (at zero units sold) there was $0 of revenue, and I can figure out how much the very first unit added (this wouldn't have worked with any quantity except the first unit).
@hubbzee I know I shouldn't make generalizations, but I've observed that universities often emphasize research, while community colleges emphasize teaching.
Wow! I'm taking an online class for AP Micro/Macro and your videos cover 10 of their videos and is much better at explaining! Just wondering but do you have a website of some sort? Similar to bozeman science or khan academy?
Thanks so much....fantastic video. Just one question.....in the last part you say that MC curve is the monopolists supply.....how does that possible? Can you explain that please?
Ummm - time? The series I had outlined for myself to cover the 2 principles courses has 35 episodes each (with some overlap). Once I get those done, I'll go back and see what gaps I may have left that need to be filled.
hi guys on 3:15, I'm a bit confused on how she got the curve for MR. I've been trying to compare the dots with the demand schedule shown but still don't get it. For example. on the second dot Price = 8, Qty= 2. Can someone please explain this to me? Thank you so much
+Charm Alvarez Price x Quantity = Total Revenue, Marginal Revenue = Total Revenue @ Quantity 2 - Total Revenue Quantity 1 when going up one unit. Total Cost @ Quantity 2 - Total Cost @ Quantity 1 = Marginal Revenue. The chart at 3:11 shows Quantity 1 having a total revenue of $10 and Quantity 2 having a total revenue of $18 so $18 - $10 = MR of $8 thus the point at 2 is at $8. MR is always done between quantities that are different by one unit so at Quantity 5 and Quantity 6 we would subtract TR of Q5 from TR of Q6 [30(Q6) - 30(Q5) = 0(MR)] so the point at 6 is at 0. At least this is my understanding of it. If I have something wrong I hope someone corrects me.
1) Breaking up a "monopoly" into 10 small firms does NOT cause another initial investment ( the equipment already exists ) 2) Ignores the government grant of the monopoly. 3) Ignores competition on the margin of these "natural" monopolies 4) It's the competitors that bring anti-monopoly lawsuits, not the customers. Don't let the facts get in your way
Will be glad if anyone can answer this question of mine... Why the demand curve for monopoly is a downward curve ? Should't they have the market power to determine the price of the item ? If I am the only supplier of water(a necessity) in a country, without taking other factors such as government intervention into consideration. I set the price of water at $10 per liter used. Don't people will still need to drink the same amount of water and should't the demand curve be a horizontal demand curve ? As any complaint will not reduce the need of the same amount of water.
Why does the monopoly have to reduce price to increase demand. Since he is the only producer he can keep increasing or maintain same price. Im confused
Any chance you could help me with this? maybe a graph? A company with monopoly over a ferry crossing charges less for day trips than for crossings involving one or more overnight stays. explain I cannot understand why a company would charge less for day trips. HELP
what school do you teach at? I am currently attending the university of western Ontario and although my professors seem to be highly educated their teaching skills are mediocre at best compared to yours!
She subtracts the total revenue. 10-0 = 10 marginal revenue for the first one because when the firm produces and sells 0 output, TR is 0. Similarly for the second one, the MR would be 18-10 = 8, third MR would be 24-18 = 6 and so on :)
Say it costs 10c to produce a banana, If I sell 1000 banana's for 50c each I get $400 profit If I can sell 10 000 banana's if I reduce the price to 30c each, I make $2000 profit If I only sell 20 000 banana's at 15c each, I make $1000 profit
I don't know you. I've never met you. but I love you. thank you for making these.
i spent 4 months sitting in a lecture where my prof read off a powerpoint filled with errors, when i could've been watching this...thank you, you gave me some hope on my final!
ive been trying to understand this for over 2 days now. this video cleared up everything in 7 minutes. thank you so much! this is amazing!!!
lol this is so much easier to understand than my stupid microecon book.
Thanks once again for your reply. You have been very kind in uploading all these videos for the benefit of others. I have been following the series with much interest. However, I couldnt find Episodes 29 & 30, and 35 and beyond. I seriously hope that you havent stopped uploading. Pls do upload these if possible. Thanks
These videos are amazing thank you so much! My exam is tomorrow and im relieved!
Exam on Monday and this is my #1 revision tool
Thanks so much!
That's particularly for the part where I'm comparing the monopoly to the competitive market; in the perfect competition model, it's the MC curve that shows the quantities supplied at each price level, so in the end, the MC curve ends up tracing out the firm's supply.
OMG these videos are like a gold mine, i learn something and I don't fall asleep
Best RUclips channel for learning Economics👏👌
Extremely informative, easy to follow, concise diagrams. I have an exam tomorrow this is just what i need. Fantastic!!!!!!
I'm on my way to my micro final! This video is awesome and definitely helped me. Thank you!
I was searching for microeconomics videos and your's looked the coolest with the cartoons. Pair that with your pleasant voice and I'm retaining more than I would have in class. Thak you for making these videos!!!!!
Very good explanation. Way better than my professor! Thank you!
You are awesome and helping to educate the next generation. Thanks
I have used two of your videos as introduction to new topics in economics for IB-students. I find them very useful. Thanks
Thanks so much, I'm at Australia's best university and world recognised and yet your explainaion has helped me so much. I was so confused. Thanks so much!!!!!!! Really appreciate your help. Take care
I like the castle with the alligator and dragon. The illustrations are simple, yet effective. Economics could be a very boring subject, but you make it interesting.
Thank you! It's a very clear and comprehensive explanation. ^ ^
You are so helpful!!! Thank you for helping me in my AP econ class!
i really love your videos. good information. not enough "calculations" for my exams but still great :) thank you
these videos are very helpful thanks to your initiative..... i learned a lot from this video
Very well explained… Thankyou 👍👍
Omg I'm so glad I found your videos
Hi
@milh467 Most charts like this actually have zero as the starting quantity, in which case I haven't started selling anything yet, so I can't talk about added revenue yet (hence the dash).
In this video, I start with the very first unit sold, so previously (at zero units sold) there was $0 of revenue, and I can figure out how much the very first unit added (this wouldn't have worked with any quantity except the first unit).
These are great, Good Effort!
You're so helpful, thank you.
hey! excellent videos!
so when do you think the other videos will be ready?
thanks !
@hubbzee I know I shouldn't make generalizations, but I've observed that universities often emphasize research, while community colleges emphasize teaching.
thanks for the video compadre te quiero surmano. Besitos
This is absolutely brilliant, thank you so, so much.
excellent explanation
Wow! I'm taking an online class for AP Micro/Macro and your videos cover 10 of their videos and is much better at explaining! Just wondering but do you have a website of some sort? Similar to bozeman science or khan academy?
Thanks so much....fantastic video. Just one question.....in the last part you say that MC curve is the monopolists supply.....how does that possible? Can you explain that please?
Better than my prof!!! Keep up the good work!!!!
Thank you so much!!
No; there are about 5 videos that I had planned in my original outline that I have not completed yet (those are 3 of them).
thanks a lot for the video... perfect explanation !!
Ummm - time? The series I had outlined for myself to cover the 2 principles courses has 35 episodes each (with some overlap). Once I get those done, I'll go back and see what gaps I may have left that need to be filled.
Perfect explanation!!
This is very helpful. Thank you
You are a huge life saver
Thank you. The video was very helpful
good explaination... but if it got the additional subtittle it will be more better.... thanks
@sperdoj That's very kind ... thanks!
very nice , help me a lot .
thankyou very much for this video
In the US... although I grew up close to Canada!
thanku😊
Q: do you have any video on market power?
Thanks for posting, keep them coming!
CHEERS
i love this video
Loved the vid yet again! Poor monopolist.. Always the bad guy..!:-P
@baresolid Close - I was raised in upstate New York (a separate universe from New York City), so Canada was only a few hours drive away...
hi guys on 3:15, I'm a bit confused on how she got the curve for MR. I've been trying to compare the dots with the demand schedule shown but still don't get it. For example. on the second dot Price = 8, Qty= 2. Can someone please explain this to me? Thank you so much
+Charm Alvarez Price x Quantity = Total Revenue, Marginal Revenue = Total Revenue @ Quantity 2 - Total Revenue Quantity 1 when going up one unit. Total Cost @ Quantity 2 - Total Cost @ Quantity 1 = Marginal Revenue. The chart at 3:11 shows Quantity 1 having a total revenue of $10 and Quantity 2 having a total revenue of $18 so $18 - $10 = MR of $8 thus the point at 2 is at $8. MR is always done between quantities that are different by one unit so at Quantity 5 and Quantity 6 we would subtract TR of Q5 from TR of Q6 [30(Q6) - 30(Q5) = 0(MR)] so the point at 6 is at 0.
At least this is my understanding of it. If I have something wrong I hope someone corrects me.
very useful lesson
watching all over again for the exam
Episode 28 has a little bit on price discrimination.
So much help 😘😘
So useful!
Thanks!!
still useful for my PEC class
Thanks for the reply. and why have you stopped with Episode 34? Will the rest (35 onwards) be added later?
1) Breaking up a "monopoly" into 10 small firms does NOT cause another initial investment ( the equipment already exists )
2) Ignores the government grant of the monopoly.
3) Ignores competition on the margin of these "natural" monopolies
4) It's the competitors that bring anti-monopoly lawsuits, not the customers.
Don't let the facts get in your way
Thanks
would be nice to have something on price discrimination
omg you're so much better than my teacher
thank you!!
Will be glad if anyone can answer this question of mine...
Why the demand curve for monopoly is a downward curve ? Should't they have the market power to determine the price of the item ?
If I am the only supplier of water(a necessity) in a country, without taking other factors such as government intervention into consideration. I set the price of water at $10 per liter used. Don't people will still need to drink the same amount of water and should't the demand curve be a horizontal demand curve ? As any complaint will not reduce the need of the same amount of water.
U ARE THE BESTTTTTTTTTTTTTTTTTTTTTTT
brilliant..:) thanks
thank u!
If you had a patreon I'd donate some money to you because these are so well made! But since you don't an internet hug will have to do :)
im from jakarta,indonesia and i think the explanation is a clearly nice,but much easier to me if you give the subtitle...PLEASE !!!
@katrinaleesg Not sure what other details you are after...?
u r awesome
C génial :)
@devildemonsaintluke that was my problem as well, why is the marginal cost suddenly supply?!
thank you for your videos, when will my professor retire?
there is no need to have them her english is great
Now I see where the name of the game come from!
Thank you ^0^
2 semesters of finance faculty did worse work than you did in 7 minutes
thank you sincerely
for anyone watching this now is the real estate market a monopoly or oligopoly or something else?, thanks
Why does the monopoly have to reduce price to increase demand. Since he is the only producer he can keep increasing or maintain same price. Im confused
Bt by the law of supply as prices drop quantity supplied drops too
a happy monopolist indeed 5:10
THANK YOUUUUUUUUUUUUUUUUUUUUUUU
OMG I LOVE YOUUUUUUUUUUUUUUUUUUUUUUUUUUU
Any chance you could help me with this? maybe a graph?
A company with monopoly over a ferry crossing charges less for day trips than for
crossings involving one or more overnight stays. explain
I cannot understand why a company would charge less for day trips.
HELP
higher demand for day trips meaning they can spread out the cost over more consumers during the day, hope this didnt come in too late!
@@JacobGZW only 8 years too late. thanks
@@danesebruno what were you doing 8 years ago?
@@JacobGZW lol, my original comment was posted 8 years ago. I didnt even remember it.
That was back when I was still in college
I love you
I can think of Standard Oil.
Chevron was then born?
HAHAHAHA I DID NO WORK ALL YEAR AND THANKS TO YOU I'LL PASS
can you rewrite my textbook please? I've learned more from your videos than my text book.
SOOOOOOOOOOOOOOOO MUCHHHHHHHHHHHHHH
your teaching is pretty good but i guess im just not good for economics that even what you say i dont understand :
what school do you teach at?
I am currently attending the university of western Ontario and although my professors seem to be highly educated their teaching skills are mediocre at best compared to yours!
cant hear a single word.....audio is bad... i wonder if it even does have or not .....
@mjmfoodie deadweight loss maybe?
help, i dont get how she got +10$, +8$ and others for the marginal revenue. can someone explain it to me pls? :'(
She subtracts the total revenue. 10-0 = 10 marginal revenue for the first one because when the firm produces and sells 0 output, TR is 0. Similarly for the second one, the MR would be 18-10 = 8, third MR would be 24-18 = 6 and so on :)
Say it costs 10c to produce a banana, If I sell 1000 banana's for 50c each I get $400 profit
If I can sell 10 000 banana's if I reduce the price to 30c each, I make $2000 profit
If I only sell 20 000 banana's at 15c each, I make $1000 profit
haha IBibIBibIBiBIbiBibIBib HL ECOOO