Micro: Unit 3.7 -- Graphing Perfectly Competitive Firms

Hey Everyone! I'm Mr. Willis, and You Will Love Economics!
In this video, I will:
- Review the key characteristics of perfectly competitive firms
- Demonstrate how to spot when perfect competitors are earning
economic profits, taking economic losses, and breaking even
- Reveal how to identify price, quantity of output, total revenue, and
economic profits/losses on a graph for a typical firm
- Show how changes in market price and costs to the firm will alter the
price and quantity for the firm, as well as any profits or losses that the
firm had been experiencing
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[@kwadwobonsu8253]

i had a little problem with the graphing but i now understand it very much. thank you very much,i will subscribe and like because you are doing a great job.

[@Supermarauder]

Return of the king!! Always love seeing another upload from ya Mr. Willis. :D

[@mghoiphenny995]

Hi, thank you for this video. Are we supposed to do imaginary or estimate calculations on these graphs or how do we arrive at economic loss and economic profit?

[@tsitsibritney7252]

Thank you ✨✨

[@springconcept2808]

You are amazing !!!😍😍😍😍