But he's already condensed the entire A2 syllabus into videos amounting to a fraction of the time it would take to learn it in an institution (190 hours). To condense a 190 hour course in one video is impossible.
Is producing at MC (wage) = MR (MRP) then technically also profit maximisation (as well as revenue maximisation) for firms in a perfectly competitive labour market?
Each new worker contributes relatively less as fixed factors of production (ovens, dough, etc) are spread increasingly thin, so essentially each new worker has less to work with.
hi there, just curious isn't wage determination regarding how wages are fixed. Meaning isn't the "wage" supposedly a variable which is to change. MRP seems more to be a concept describing the quantity of labour a firm will DD, rather than how a wage ,may vary per firm? If so why does the question in exams ask regarding wage determination? why not ask DD determination? Pls and Thanks!
For a product market yes, where demand for the good = mr = ar. However, this is the demand for labour, not the demand for a product which is slightly different :)
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You should make a summary of A2 in just one video, that would be amazing!!
Yessss pls 😊
yaaaaaa try it plz
But he's already condensed the entire A2 syllabus into videos amounting to a fraction of the time it would take to learn it in an institution (190 hours). To condense a 190 hour course in one video is impossible.
ok, offcourse
@@Matthew-me6of moto
Nice explanation, I understood it very well!!!
i love this explanation , it has been of benefit to me
If the total product falls from 18 to 17 when the fifth worker is hired, surely the MPP should be -1 and the MRP should also be negative?
Yeah, I think he made a little mistake in his calculations.
Well done. I like the better lighting!
Thank you, very much, for the video. It really helped a lot. Are there any text books that you would recommend I use for A2?
Is producing at MC (wage) = MR (MRP) then technically also profit maximisation (as well as revenue maximisation) for firms in a perfectly competitive labour market?
Yeh, surely revenue maximisation is where MRP = 0 and profit maximisation is where Wage = MRP?
Thank You Nice
hero
i love these videos
And I love you too baby
😘 ♥ 💋
If all labour is homogenous, why does the MRP of each respective worker differ?
Each new worker contributes relatively less as fixed factors of production (ovens, dough, etc) are spread increasingly thin, so essentially each new worker has less to work with.
How do you compute the crew pay in the fishing industry? Paid with a share from the net profit?
what about wage determination for monopsony?
Covered here my friend ruclips.net/video/Apng99ArphY/видео.html
econplusdad
Hello sir.. Thankyou
hi there, just curious isn't wage determination regarding how wages are fixed. Meaning isn't the "wage" supposedly a variable which is to change. MRP seems more to be a concept describing the quantity of labour a firm will DD, rather than how a wage ,may vary per firm? If so why does the question in exams ask regarding wage determination? why not ask DD determination? Pls and Thanks!
exactly my point.. i have an exam in a month plz confirm me whether this video is about hiring decision or the wage determination ?
is'nt the demand curve for the firms product horizontally shaped in a perfectly competitive market
For a product market yes, where demand for the good = mr = ar. However, this is the demand for labour, not the demand for a product which is slightly different :)
ooo yeahhh
Saw Indian and never expected he will speak in european slang of english, very good explanation 😎😍
British RP accent, I was blown away too. I've been trying to learn this accent for a while now.
what is tpp and mpp
full form?
I think TPP is total physical product and MPP is just marginal physical product
Sir In what way we can translate your
Into Hindi