Your videos are really instructive and easy to follow, I hope you can keep uploading them as they are extremely helpful. This channel is a hidden jewel
Slitherpy that's so nice of you, I really appreciate the encouragement, thank you - hopefully I can get the second video to this one up in the next day or so! :) :)
Exactly. Thanks! But what I need also in this exercise is the analytic form of the market demand. Generally: Q= a - b. p, but I need the numbers in this equation. How much is a? how much is b? :)
Hey! Sorry the video about horizontal and vertical summation is very late, I had an unwell baby and then my computer broke! If you still need it, it's here ruclips.net/video/Q8G-EYqWjkA/видео.html hope it helps and you are doing well with your study.
I know it is a stupid question . But, I don't understand why can't we add the intercept just like we did with adding the x co-ordinates i;e quantity demanded at zero price of both mark and ben . Please explain !!
Adding the P-intercepts? Not a stupid question. Individual demand curves tell us about the various prices that individuals will demand at, and how much they will demand at each of those prices. So, for instance, Mark's maximum price is 10 and Ben's maximum price is 5, and both participants demand various quantities below those prices. With our market demand, we need to think, taking Mark and Ben together, what is the sum of their demand (q) at each price? If we add the price intercepts together, we would be doing the opposite, for every q looking at the sum of prices. To take the intercepts as an example, if we add the price intercepts, our market demand would show some demand at prices up to $15, but of course, this cannot be true, since the only participants in our market have a maximum price of $5 and $10. Hope that helps!?
@@econhelp_official The mistake I was making was something along the lines of fusing the two individuals and somehow assuming that it would raise the maximum price ( as if fusion will increase their disposable income " BIG BRAIN LOL" and why would a fusion even happen !! lol ) However what is happening here is that we are making a graph of total quantity demanded of the market, where the max price of each individual remains the same , but we are adding up their quantity demanded at various prices .
Hi CBurak Yilmaz, Mark's function is linear so there is only one solution for the vertical axis intercept. We find it by setting the quantity variable equal to 0. I did do a video on drawing demand equations, ruclips.net/video/rfopq1i4cgI/видео.html, it's never been very popular, but it might help.
Your videos are really instructive and easy to follow, I hope you can keep uploading them as they are extremely helpful. This channel is a hidden jewel
Slitherpy that's so nice of you, I really appreciate the encouragement, thank you - hopefully I can get the second video to this one up in the next day or so! :) :)
Really helpful
Great work 💓
Thanks friend! Keep safe and I hope you do well in your studies :)
Thank you, very helpful
You're welcome! Good luck with your studies!
Thanks a bunch, so helpful
You're welcome! Good luck with your study!
Exactly. Thanks! But what I need also in this exercise is the analytic form of the market demand. Generally: Q= a - b. p, but I need the numbers in this equation. How much is a? how much is b? :)
Glad you found the second video! :) Good luck with your study!
Could you do an example of horizontal summation vs vertical summation. Private good vs public good. especially from table.
Sure, I don’t know what you mean by table though? Like with two demand schedules?
@@econhelp_official Basically Qd and P of three seperate individuals but not the equations.
Hey! Sorry the video about horizontal and vertical summation is very late, I had an unwell baby and then my computer broke! If you still need it, it's here ruclips.net/video/Q8G-EYqWjkA/видео.html hope it helps and you are doing well with your study.
@@econhelp_official Extremely helpful as always! Hope all is well with the baby and computer!
I know it is a stupid question . But, I don't understand why can't we add the intercept just like we did with adding the x co-ordinates i;e quantity demanded at zero price of both mark and ben . Please explain !!
Adding the P-intercepts? Not a stupid question.
Individual demand curves tell us about the various prices that individuals will demand at, and how much they will demand at each of those prices. So, for instance, Mark's maximum price is 10 and Ben's maximum price is 5, and both participants demand various quantities below those prices.
With our market demand, we need to think, taking Mark and Ben together, what is the sum of their demand (q) at each price? If we add the price intercepts together, we would be doing the opposite, for every q looking at the sum of prices. To take the intercepts as an example, if we add the price intercepts, our market demand would show some demand at prices up to $15, but of course, this cannot be true, since the only participants in our market have a maximum price of $5 and $10.
Hope that helps!?
@@econhelp_official Ohh ! I get it now . Thank you very much
@@econhelp_official The mistake I was making was something along the lines of fusing the two individuals and somehow assuming that it would raise the maximum price ( as if fusion will increase their disposable income " BIG BRAIN LOL" and why would a fusion even happen !! lol )
However what is happening here is that we are making a graph of total quantity demanded of the market, where the max price of each individual remains the same , but we are adding up their quantity demanded at various prices .
I'm not sure if you are up to this in your studies, but this is basically what happens with public goods!
Why in the Mark's graph starting point is 10 I do not understand this.
According to P= ......... solution 10 is suitable 10/2 is suitable.
Hi CBurak Yilmaz, Mark's function is linear so there is only one solution for the vertical axis intercept. We find it by setting the quantity variable equal to 0. I did do a video on drawing demand equations, ruclips.net/video/rfopq1i4cgI/видео.html, it's never been very popular, but it might help.
@@econhelp_official I do not understand what you want to tell me. Did you understand what I asked you?
Apa...
Hi! Sorry to hear the video didn’t help. If you have any specific questions feel free to ask!