Micro: Unit 3.2 -- Production Costs
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- Опубликовано: 30 июн 2024
- Hey Everyone! I'm Mr. Willis, and You Will Love Economics!
In this video, I will:
- Define accounting costs and accounting profits (explicit costs)
- Define economic costs and economic profits (explicit costs + implicit costs)
- Define total cost, variable cost, and fixed cost, and marginal cost
- Practice calculating the total cost, variable cost, fixed cost, and marginal cost for the firm
- Practice calculating the average fixed, average variable, and average total costs for the firm
at different levels of output
- Define marginal cost and use data provided to calculate the marginal revenue and
marginal cost
- Discuss the relationship between marginal cost and marginal product
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Amazing!! i'm glad i found your channel right before my finals! the way you explain is incredible, thank you !!
I never thought I could understand this topic. It always seemed complicated, thanks for the simplification
Straight to the point and very detailed. Wow, thanks!!
That’s awesome! So happy I found your channel before final exam. Thank you so much.
I am very glad to you Mr. Willis, thank you for the amazing way of teaching, love and respect from Bangladesh.
thanks for the help
Keep up the great content
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Great video..
Sir I have a question to ask.
Will there be any effect on by products in terms of cost of production?
nice explanation
Very effective 💪
Hie guys does anyone know what TCC is in production costs? Please help urgently
Another video another banger
Still grinding in this covid life Willis?! Keep it up!
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