That was awesome! Though I was a bit confused as you used the general formula for the Total or Average figure of something while in our module guide it was AC = TC / TP instead of Quantity.
I have really enjoyed and understood the Marginal revenue, total revenue curves but i do need another help on total utility and marginal utility curves please Am from uganda
Because marginal product is negative, you would be dividing by a negative number to get the marginal cost. This would give you a negative marginal cost which would not be accurate as this would imply you are saving money which is not the case. In other words the marginal cost is the extra cost of producing one more unit and as you physically are not producing an extra unit (you are producing 3 less) there is no marginal cost of producing extra units at this output because you are not able to produce extra units in the first place.
i know its 3 years too late to reply but since dividing anything by 0 results in 0. he has put down the “-” to show that the number is 0 or non existent
Can any one tell me that the law of variable proportion and law of diminishing marginal product same. And what are different stages of law of diminishing marginal returns
this video is really amazing. it makes everything much easier and clearer than a 1-hour lecture from uni
how do you know exactly what i am studying right now? Must be the same powers that enable you to do this all in one take
The KING still helping me out at uni
it'd be helpful to also explain why MC passes through the min point of AC.
no cap dis guy a life saver
omg when he said MC and AC were just MP and AP flipped 🤯🤯
Thanks man... u did a great job...! Looking forward for many such. Regards!
It feels like this man has achieved nirvana.
That is the best explanation i could find
You saved a life. Thank you so, so much.
Still dont get what happens when AC=MC, like why is AC intersecting MC when MC increases
MC=AC is the point with the lowest production costs for a firm. After that point when MC>AC the costs for every additional unit will increase the AC
Thanks Dal! You're Legend!
I stumbled across this video having studied economics years ago. Very well explained.
thank you for sharing this video it real helped me for tomorrow class
Bros fully carrying me through a level economics
Great video mate thanks a lot really helping me out with my A levels 👍🏼
How was it
howd it go
@@oliverthorne9060 E
@@tpainterxfirst guy I’ve seen reply, but massive F
That was awesome! Though I was a bit confused as you used the general formula for the Total or Average figure of something while in our module guide it was AC = TC / TP instead of Quantity.
Excellent presentation
Could you please explain more about how AC is shaped based on the law of diminishing returns in words?
AC starts increasing after its minimum point showing of law of diminishing returns
thank you, your videos saved my presentation.
thankyou again Dal!
You are the best 😊
Loved the video🎉🎉🎉
Nice video👌🏽
Why does the marginal cost curve go through the mes
Thank you very much for this helpful video
Thank you
Ur voice resembles to that of former cricketer Michael Atherton ❤
beautiful video! kudos!
how did he calculate marginal cost? i didnt understnd
He calculated by using changing in total cost/change in quantity,for examplechange in total cost=10/ quantity (marginal product)4 we will get 2.5
I have really enjoyed and understood the Marginal revenue, total revenue curves but i do need another help on total utility and marginal utility curves please
Am from uganda
This is so helpful!
What happens at that point where MC and AC intersect?
Then soon it will be time for AC curve to rise 😁
Why is it not possible to equalize the marginal and average return?
What about the intersection of mc and ac? What does it mean?
Thanks sir
why is the last value for marginal costs given a "-", does that mean that it is non-existent?
Because marginal product is negative, you would be dividing by a negative number to get the marginal cost. This would give you a negative marginal cost which would not be accurate as this would imply you are saving money which is not the case. In other words the marginal cost is the extra cost of producing one more unit and as you physically are not producing an extra unit (you are producing 3 less) there is no marginal cost of producing extra units at this output because you are not able to produce extra units in the first place.
i know its 3 years too late to reply but since dividing anything by 0 results in 0. he has put down the “-” to show that the number is 0 or non existent
Superb
Can any one tell me that the law of variable proportion and law of diminishing marginal product same.
And what are different stages of law of diminishing marginal returns
No big reason, just 2 different names for the same concept: they are used interchangeably.
please i want long run AC and MC
what do u mean
I love you have my children
Make it more easy for layman.
i love you
👍🏽
Tomorrow exam 😂
Heyy
Can start a whatsapp channel ?