Demand for Labour - Marginal Revenue Product (MRP)

Demand Curve for Labour - Marginal Revenue Product (MRP). A video covering the Demand Curve for Labour - Marginal Revenue Product (MRP)
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[@stingroemk1]

Your content and quality is far superior to Tutor2u's economics videos; as well as more interesting. So thank you for taking your time to record these videos.

[@Sorrocasharked]

tutor2u puts me to sleep

[@MitchTalbotVlogs]

Tutor2u is absolute garbage. Covers in 25 minute videos what EconplusDal does in a few minutes. Idk how teachers still rely upon it so much :/

[@umarhc]

@@Sorrocasharked so dry fr

[@sayonilahiri776]

You're one of a kind.
Thank you for being so selfless and uploading good content free of cost, mate :)

[@AbdulRehman-wn8nr]

Got an A in CIE A level Economics!
Thank you a lot!!
You helped me in many ways!

[@issajess]

Just in time before exams starts! You are a life saver!!!

[@shannonwilliams9116]

Agreed!

[@suyashbapna9820]

So trueee! My exam is next morning....

[@abdirahmanmumin]

@@suyashbapna9820 what did u get

[@UmarDoesEconomics]

an easy way I understood this was : firms will only demand workers if they make money by employing them / if they add to a firms revenue more than they add to costs

[@Jamiejamiehamie]

Good way of explaining the concept for anyone who doesn’t understand 🔥

[@Kmilushev]

I LOVE YOU ECONPLUSDAL

[@vidusheeofficial1954]

Sir I don't know how to thank you enough... Really your videos are of great help during this period of lockdown.. I'm able to finish my revision notes for CIE A level Oct/Nov 2020 series.....Thank you sooooooooooo much. 🙏❤️

[@dhaqabk4022]

You are awesome my dude. Thank you for taking the time to create and share these.

[@korhanuluduz4982]

Great explanations for all the concepts! Thank you very much.

[@samzana2]

Great video - very clear and well explained. Thank you Sir

[@dalkeiththomas9352]

Bro thank you so much, you are a life saver

[@lindairiza4221]

my exam is in two hours and i think you've just saved my life, thank you!

[@Jay_Blvck]

I like your work. This video has just helped me better understand the concept of MRP. Please do continue with your amazing work.

[@palak8423]

Great simplified explanation!

[@hughhw]

Amazing video, made things so clear for me, thank you so much

[@21221sara]

thanks for making these amazing videos!

[@happymeal828]

your videos are really helpful. thank you so much!

[@austinwachira5185]

You smashed it with this one! Thanks a lot Dal!

[@stephenmaina9829]

Onawe wi gúku😂😂

[@wizardgal1]

thank you for this! I hope you can cover monopsony, trade unions and government roles (ie minimum and maximum wage) in the labour market in your later videos as well, Thanks lot :)

[@delphinelouise6403]

thank you so much. made my life easier.

[@biancaluximon]

Thank you so much for your help of making me understand MRP which I was having some issues

[@oneinabillion654]

To me, u are my source to recap why D=MRP even after years

[@kishansuthar5734]

ur the best for exams

[@patriotindian7726]

perfectly explained!

[@melondalucy]

Thank you so much this was very helpful

[@mr1nyc]

Great video series.

[@suzanarashid4876]

life saver! thanks a lot!

[@badooral-holibi2281]

thaaaaaaanks form KSA

[@naziyosufi8281]

it was very useful for me. thank you

[@TheresasWelt]

You saved my life!!!

[@mijerezimba8727]

thank you very much this is helpful

[@andreagerman242]

High quality video

[@just_for_it6359]

good teacher love from china❤

[@yaqubhussain2361]

wallahi i love this guy uno

[@commercehub3608]

Thank you so much sir

[@nibhanbaig6675]

please include this in you micro ecnomics a2 playlist so every one knows its a part of syllabus thanks in advance sir.

[@rubenaj2053]

hi sir, you have put up videos based on the different exam boards except the cie one. Will you be putting up one?

[@joelrosa6137]

Well done

[@briancatly1]

Just curious but why would a firm want to employ the 5th worker for? They wouldn't be receiving any extra profit from doing so as all the revenue made by the 5th worker is used to pay the 5th workers wage, so wouldn't this lead to the profits being the same whether you have 4 or 5 workers?

[@johnruddy4049]

Increase revenue and market share

[@salmanhussain6863]

@@johnruddy4049 thanks john

[@user-sd7ho9dp2y]

@econplusdal could you please do a Video on Maximum Wages because in the Specimen for the OCR syllabus there is a 25 marker but the mark scheme is never developed enough so that students can have a full comprehensive analysis on maximum wages

[@mahlatseseabela7648]

Thanks

[@raveenarajapaksha6918]

loved the video. can you please upload a video on income distribution?

[@keefertsang1156]

such a legend :)))

[@joelwalters653]

So am i right in saying that despite Diminishing marginal returns setting in, firms will still employ more workers past this stage given that the total productivity is greater than / equal to the wage rate?

[@ric6383]

Thanks!

[@hammadrafique2957]

When MP IS pos TP increases at increases rate.But your is at Dec rate. Why???

[@user-lj5wr4iy6e]

thanks vikkstar

[@subhangighosh2682]

So, MRP is the monetary version of MPP, right?

[@kingHD11]

I get it, but the diagram surely depicts that at around a wage rate of 10, 6 workers will be hired?

[@bubblesfacts]

when bringing up MRP in an essay, do you always have to assume that the firm is operating in a perfectly competitive labour market? So that you can expand your answer that firms can hire up until MRP=MCL? Thanks.

[@zippyclips719]

thanks

[@yesnow6600]

yes lad

[@jaisaha7669]

The true GOAT

[@willaustin117]

How come in the table the wage rate is constant, but the y-axis has a changing wage rate?

[@LITTLEERAofficial96]

Thanks 🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏

[@rahemahasan2925]

love u bhai

[@isikobabu3221]

Wow you're jst flawless

[@rashenmadumal6450]

do you have a video on market structures....???

[@EconplusDal]

Loads of them in my Year Microeconomics playlist. Check them out - everything is covered

[@spec6067]

the best thing since toast

[@nightmaster2.020]

Any help finding Marginla wage?

[@trizzerd]

i love

[@harrygray6770]

is D = MRP only for perfect competition by virtue of your mathematical derivation (maximize profit when MRP = MFC) or is this just something we assume as part of the theory? HELP DAL!!!

[@ryanathwal8819]

My teacher told me mrp = extra revenue divided by extra worker. Is this wrong ?

[@vikramvarma5037]

Please I am trying to buy the content from your website but it isn't accepting Google pay or paytm

[@TheMacerz10]

Do we need to know this for Edexcel because it's not on the spec

[@jason-os3jg]

no g only ocr

[@reginaayy3667]

Is the MRP theory the same as Marginal productivity theory?

[@123aaafus]

yes both the same

[@frankneikwa6539]

Sir is the formular for MRP same for monopsony?

[@Adam-do8ny]

Yes

[@sharad5149]

How is MRP = Demand line?

[@elliottbarnes8551]

thanks daddy xx

[@sirjanapoudel4097]

What if the market is not perfectly competitive?

[@user-qj3il4pf8d]

why isn't marginal revenue product on the y axis?

[@martinmartinmartinnmartin1380]

yess f583!!!!

[@nxx7640]

Economics CAIE tomorrow!!

[@vickramvarma7879]

I wish to buy your micro economics module? Can I do it!?

[@humaiira]

is mpp*p same as mpp*mr? pretty sure it is, innit? because marginal revenue is like, the price of each product.... (hope everyone does well in there a-levels btw)

[@humaiira]

oh wait he said it - got my answer. whoops

[@UTK37]

how'd you do?

[@rahemahasan2925]

Wht country R from?!

[@weischin]

Do you give individual online classes for ib economic?

[@happydays1457]

Have a look on his website, it's linked in the description

[@TheGamingWattsit]

Why do we assume this firm is operating in PC?

[@justsomegirlwithoutamustac5837]

You’re fucking awesome

[@TheGamingWattsit]

We assume workers are homogeneous. So why is it that the second worker produces more than the first?

[@uniqueunonymous1055]

he produces more in a sense that he adds more to total product........lana rhoades

[@realFriedrichHayek]

I dont even need to know this for AS but still interesting vid :D

[@noahjohnson1940]

you beautiful man

[@MC10W]

MRP=MPP X p

[@rahemahasan2925]

any bhabs in the making?

[@cmula2113]

grow your beard

[@antisocialbarbie1587]

He had it in one of his recent

[@charlieh2088]

gash trim in 2016 dal

[@vinayak186f3]

thanks