For the answers to the practice multiple-choice questions click on "Read more". ... 1. D 2. C Need more practice? Get the Ultimate Review Packet. It's FREE to start.
Why is answer D for #1? Wouldn't an increase in the number of consumers result in an increase of demand for gadgets, therefore increasing the MR and making the answer B?
@@alexandrakratz1292 Yes there is an increase in demand which will increase MR! If the MR increases so does the price (MRDARP) if the price increases without a change in ATC than you will be making more money. Think about if the ATC is $4 and the price is $5 you will be making a dollar. This is all in the short run though remember that it will all even out later.
professor clifford...i pray for you to achieve ultimately everythign you want in life. you're the reason i am getting full marks in my eco201 course. thank you so much. i am liking every one of your videos and promoting them amongst my colleagues. i hope you get more recognition for your efforts!
Thank you for providing comprehensive, yet easy to understand content. I started watching your videos in high school when I took macro (my school didn't offer micro), and now that I'm at Brown studying microecon, your videos have been an invaluable way to study for my midterm.
Awesome video! I'll be back in about 3 years when I want to review all these concepts. Also guys buy his Ultimate Review Pack! I got a 5 on both exams after using them
Hey Jacob so my final exams results just came out and I cleared microeconomics with an A+ I can say thank you enough. Continue making these videos they’re really changing lives. Net stop macroeconomic 😂🙌🏿
hello sir my self samreen Iam from India I have seen your video its so nice...and I can understand very will...THANK YOU SO MUCH... for this lovely video...keep making like this...
I'm a bit confused. Perfect competition means that demand is perfectly elastic therefore horizontal, but in the graph on the left during the first few minutes shows a demand curve with a slope. So even if new firms enter the market and supply goes up, why would price change?
In the long run, if other ppl see u making profit within a market, they’re gonna enter the market and increase the supply of the overall market, decreasing the price. And since individual firms are price takers (in perfect competition markets), they have to adjust to this price otherwise no one will buy from them (perfectly elastic). Ofc this is all in the long run and considering no PC market
Sir, could you please tell me which book you are following? So that I might download a PDF copy of the book. In my country we are thought from a different book. That's why I get confused a lot. I'm from Bangladesh.
Mr.Clifford, I have a question. If Perfectly competitive firms produce at the socially optimum output for society, does that mean there will never be externalities or does the term "society" means the private consumers in the externality market and externalities can still occur?
I don't see the answers for the Pop Quiz at the end of the video. I tried scrolling through the comments and looking at the description. But I love these videos. They are saving my grade!
Very useful in my comprehensive exam. I learned a lot from your videos. However, i hope you could talk a bit slower. Overall, i appreciate all videos i watched from you
Bro, we are taught that perfect competition doesn't really exist in real life, if it isn't so,then tell me chicken meat markets is perfect competition or monopolist???? Please answer!!!!
Do you actually keep that milk there from the demand and supply video? I really hope it's just water with food colouring because that seems very unsanitary (but pretty cool ngl)
For the answers to the practice multiple-choice questions click on "Read more".
...
1. D
2. C
Need more practice? Get the Ultimate Review Packet. It's FREE to start.
I got it, and I am still struggling!!!! Pretty complicated stuff.
Why is answer D for #1? Wouldn't an increase in the number of consumers result in an increase of demand for gadgets, therefore increasing the MR and making the answer B?
@@alexandrakratz1292 Yes there is an increase in demand which will increase MR! If the MR increases so does the price (MRDARP) if the price increases without a change in ATC than you will be making more money. Think about if the ATC is $4 and the price is $5 you will be making a dollar. This is all in the short run though remember that it will all even out later.
correcto
Can you pin this?
Bro you're an actual legend. I hope you get everything you want in life
I AGREE...HE DESERVES IT ALL
where's the answer key?
where is the answer. thank you.
@@mobiledude5229 down in the comments you need to scroll :) the answers are d) and c)
Thanks bro
Thank You Mr Clifford for your videos. I passed my exams all the way from Zimbabwe🇿🇼. May you continue helping other people across the world.
congrats bro !
I had the best times of my academic life watching these videos. I didn’t realize how much I’ve missed school. Thank you Mr. Clifford.
WTF are you doing here then! rewatching them? :))))
professor clifford...i pray for you to achieve ultimately everythign you want in life. you're the reason i am getting full marks in my eco201 course. thank you so much. i am liking every one of your videos and promoting them amongst my colleagues. i hope you get more recognition for your efforts!
bro i am learning this stuff 8th grade
@@aryanchand3551 im glad u had access to those courses at that level!
@@greentea0956 well i am not appy with it lol
Thank you for providing comprehensive, yet easy to understand content. I started watching your videos in high school when I took macro (my school didn't offer micro), and now that I'm at Brown studying microecon, your videos have been an invaluable way to study for my midterm.
You just f**ked 4 hours of my prof's lecture with 30 minutes of RUclips videos. Love 'em!
Awesome video! I'll be back in about 3 years when I want to review all these concepts.
Also guys buy his Ultimate Review Pack! I got a 5 on both exams after using them
Cleared all my econ modules with the help of your tutorials. Huge respect.✊
Speeding through these AP assignments thanks to these life saving videos!
having my micro test literally tomorrow, this is so helpful.. thank you
How’d it go?
@@Emilymakesthings yes it went well :) got a 95! thanks for asking
you helped me get my bachelor degree and here i am again studying for masters , thank you for your efforts , all the love from Jerusalem
Seems to be pretty good compared to other economics videos. Studying A level economics in my spare time, exams May 2023, so these really help!
how did it go?
You are what teachers should be and make people want to learn more
i never comment on youtube but you sir Jacob are the greatest man to ever live
Still gonna fail my test tmrw but this def will get me close to a 60. Thank you bro
🥺he is growing old on us guys
true... just show his monopolistic video and he was way younger .. lol
Where is the answer key 🤔
Hey Jacob so my final exams results just came out and I cleared microeconomics with an A+ I can say thank you enough.
Continue making these videos they’re really changing lives.
Net stop macroeconomic 😂🙌🏿
🌟Class plus enterment🌟that is clifford sir👨🏫
😍 lv ur teching styl sir.🔥🔥
♥️lv frm India.♥️
Nice explanation. I am an economics lecturer. Your classes are really impressive. Thank you sir. God bless you
These videos showed me everything I didn't understand in class. Thank you so much for making these!!
For home schooled students like me, we cant thank you enough ur a absolute legend 💕 gonna pass my alevels cuz of u
I'm homeschooled as well, and this really is helping me with my a levels
you are my econ professor!!!
Thank you Mr. Clifford for making economics easy to understand!
just wanna say thank you so much you really made ALL CONCEPTS crystal clear
Thank you for the amazing explanation! Straight to the point with the simplest explanation possible!
My favorite online economics is BACK BABY
Thank you Mr. Clifford, this is really helpful for a clear understanding
Glad that you are back with new videos. Love the way you explain!
I was studying this topic and took a break. Then I saw this video. Now I am going back to study.
Thank you soooo much clifford!! Hope to pass the exam this timeee
hello sir my self samreen Iam from India I have seen your video its so nice...and I can understand very will...THANK YOU SO MUCH... for this lovely video...keep making like this...
Appreciate the video, helps a lot in econ class.Thank you.
This video is very helpful. It helps me to understand what are the four marketing structure well.
I think ,if you were my teacher I never miss my lectures!
Going to Harvard and I come back to your online classes to supplement. Great job! I want what you eat.
I got D and C for the MCQs
Me too.
same
The explanation was on to the point and i could understand it clearly
it really helps me understand what the four market structures is all about.
saving my academic career right now
Thank you for making A levels easier.
I'm going to have to watch this video a couple times.
I'm missing something.
Thankfully, I purchased the Ultimate Review Packet. 👍🏻
yesss
Dude love your vids. You totally make it not boring like in class.
1 - D, 2 - C
I'm a bit confused. Perfect competition means that demand is perfectly elastic therefore horizontal, but in the graph on the left during the first few minutes shows a demand curve with a slope. So even if new firms enter the market and supply goes up, why would price change?
In the long run, if other ppl see u making profit within a market, they’re gonna enter the market and increase the supply of the overall market, decreasing the price. And since individual firms are price takers (in perfect competition markets), they have to adjust to this price otherwise no one will buy from them (perfectly elastic). Ofc this is all in the long run and considering no PC market
best ecom teacher ever
Thank You kind Sir
Unspokenly your way of teaching!
I would love economics because of you..In how much period of time I shoud learn and be aware for it?
This man is a blessing from god
I appreciate all of your video lessons )
Thank you SO much
Where is the answer key?
Sir, could you please tell me which book you are following?
So that I might download a PDF copy of the book.
In my country we are thought from a different book. That's why I get confused a lot.
I'm from Bangladesh.
Excellent videos!
Been waiting for this video forever! Thank you!
Thank you sir. I have explained economics concepts in Malayalam
i love this man
Good video 😊
Your videos have been very helpful. Thanks for such simple explanations!!!
thanks sir for amazing videos
Bro smelt the bad milk and put it right back onto the shelve. I respect that.
Amazing 🤩
clifford you the amazing economist 😂😂😂😂😂😂😂😂👍
You rock ! clifford :)
Your stuff is great
As always, THANK YOU
love you man
the similarities between heimler and mr. clifford are stunning
love from Bangladesh
where is the answer key
Mr.Clifford, I have a question. If Perfectly competitive firms produce at the socially optimum output for society, does that mean there will never be externalities or does the term "society" means the private consumers in the externality market and externalities can still occur?
no, externalities dont exist in a perfectly competitive market
Thank you!
IT WAS GREAT
I got the Ultimate Review Packet bit how can I log in to have access?
where are the answers for the pop quiz
I don't see the answers for the Pop Quiz at the end of the video. I tried scrolling through the comments and looking at the description. But I love these videos. They are saving my grade!
the algorithm just puts the comment lower, it is still there - the answers are 1D and 2C
@@Chris10riginal Oh, okay. Thank you so much. I am used to the comment being pinned. But that makes a lot of sense.
Very useful in my comprehensive exam. I learned a lot from your videos. However, i hope you could talk a bit slower. Overall, i appreciate all videos i watched from you
Hi Mr. Clifford how can I get access to the practice exams I forgot where to go
Bro, we are taught that perfect competition doesn't really exist in real life, if it isn't so,then tell me chicken meat markets is perfect competition or monopolist???? Please answer!!!!
Wow you look good.
Nice
Please make a video on Pricing such as cost based pricing,competition based pricing etc
Wow! I like Mr.Darp! Is it for sale in addition to your merchandise? Lol
Why price fall more firms entering the market when the market is competitive and supply increase does not change price ?
God Bless You :)
Is the answer D C?
Yes
Do you actually keep that milk there from the demand and supply video? I really hope it's just water with food colouring because that seems very unsanitary (but pretty cool ngl)
are the answers in the end D and C?
omg mr jacob with a beard!!!!!!
AND I understood something finally
Answer key??? 🤷🏻♂️
thx! Well, what about the answer key? Is it DD?
i was thinking D C
@@joannet5278 you‘re right🤥
If it was not for you I would be definitely failing this class. Thank you
all my homies like MR.DARP
So much Arrested Development here. Didn't expect it, but not mad at it at all 😂
What is the answer key?
D - C
D C
D then C
Me (before): I have a good grasp on ECON.
*watches Jacob Clifford video*
Me (after): I don’t know sh**.
For me, it's in the reverse order.
@blank relatable
I love you.