At 3:29, why have you labeled MSC as being equal to the supply? Is there a video that explains this, or was that an error? I thought it was MPC that is equal to supply, no?
Yes. This is from the externalities graph in the 6.2 video. When goods are non-excludable they will produce positive externalities resulting in under production in a competitive, unregulated market. In this example the supply would also be equal to the MPC. Since there is no externality on the supply side here, S=MPC=MSC. Here is that video: ruclips.net/video/bAdTC1odUHo/видео.html
I was thinking about this concept of rivalrous and excludable and it occurred to me that the worksheets you create to sell are public goods. Hear me out. Your worksheets are pdfs. If I buy one and then make copies to give to my student you can't stop me and there is no loss of worksheets on your side. Your worksheets are nonexcludable and noon rivalrous.
At 3:29, why have you labeled MSC as being equal to the supply? Is there a video that explains this, or was that an error? I thought it was MPC that is equal to supply, no?
Yes. This is from the externalities graph in the 6.2 video. When goods are non-excludable they will produce positive externalities resulting in under production in a competitive, unregulated market.
In this example the supply would also be equal to the MPC. Since there is no externality on the supply side here, S=MPC=MSC.
Here is that video: ruclips.net/video/bAdTC1odUHo/видео.html
I was thinking about this concept of rivalrous and excludable and it occurred to me that the worksheets you create to sell are public goods. Hear me out. Your worksheets are pdfs. If I buy one and then make copies to give to my student you can't stop me and there is no loss of worksheets on your side. Your worksheets are nonexcludable and noon rivalrous.
I completely agree! They're definitely non-rival and fairly non-excludable after the first purchase.