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.
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. 🙏❤️
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
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 :)
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?
@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
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?
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.
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!!!
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)
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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.
tutor2u puts me to sleep
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 :/
@@Sorrocasharked so dry fr
lets not throw shade here anywhere!
You're one of a kind.
Thank you for being so selfless and uploading good content free of cost, mate :)
Just in time before exams starts! You are a life saver!!!
Agreed!
So trueee! My exam is next morning....
@@suyashbapna9820 what did u get
Got an A in CIE A level Economics!
Thank you a lot!!
You helped me in many ways!
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. 🙏❤️
my exam is in two hours and i think you've just saved my life, thank you!
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
Good way of explaining the concept for anyone who doesn’t understand 🔥
I LOVE YOU ECONPLUSDAL
You are awesome my dude. Thank you for taking the time to create and share these.
Great video - very clear and well explained. Thank you Sir
You smashed it with this one! Thanks a lot Dal!
Onawe wi gúku😂😂
Bro thank you so much, you are a life saver
To me, u are my source to recap why D=MRP even after years
ur the best for exams
I like your work. This video has just helped me better understand the concept of MRP. Please do continue with your amazing work.
Well explanation 😮❤
good teacher love from china❤
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 :)
please include this in you micro ecnomics a2 playlist so every one knows its a part of syllabus thanks in advance sir.
Thank you so much for your help of making me understand MRP which I was having some issues
Great explanations for all the concepts! Thank you very much.
Great simplified explanation!
thaaaaaaanks form KSA
Thanks teacher
your videos are really helpful. thank you so much!
perfectly explained!
Amazing video, made things so clear for me, thank you so much
life saver! thanks a lot!
Thank you so much this was very helpful
wallahi i love this guy uno
Well done
thanks for making these amazing videos!
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?
Increase revenue and market share
@@johnruddy4049 thanks john
You saved my life!!!
Great video series.
thank you very much this is helpful
thank you so much. made my life easier.
hi sir, you have put up videos based on the different exam boards except the cie one. Will you be putting up one?
High quality video
The true GOAT
it was very useful for me. thank you
Thank You 🙏
loved the video. can you please upload a video on income distribution?
yes lad
Thank you so much sir
@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
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?
I get it, but the diagram surely depicts that at around a wage rate of 10, 6 workers will be hired?
such a legend :)))
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.
the best thing since toast
love u bhai
Thanks!
When MP IS pos TP increases at increases rate.But your is at Dec rate. Why???
do you have a video on market structures....???
Loads of them in my Year Microeconomics playlist. Check them out - everything is covered
How come in the table the wage rate is constant, but the y-axis has a changing wage rate?
thanks vikkstar
So, MRP is the monetary version of MPP, right?
Is the MRP theory the same as Marginal productivity theory?
yes both the same
❤❤
Thanks 🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏
Wow you're jst flawless
Do we need to know this for Edexcel because it's not on the spec
no g only ocr
Sir is the formular for MRP same for monopsony?
Yes
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!!!
Please I am trying to buy the content from your website but it isn't accepting Google pay or paytm
Economics CAIE tomorrow!!
i love
Do you give individual online classes for ib economic?
Have a look on his website, it's linked in the description
Any help finding Marginla wage?
My teacher told me mrp = extra revenue divided by extra worker. Is this wrong ?
why isn't marginal revenue product on the y axis?
I wish to buy your micro economics module? Can I do it!?
What if the market is not perfectly competitive?
thanks daddy xx
We assume workers are homogeneous. So why is it that the second worker produces more than the first?
he produces more in a sense that he adds more to total product........lana rhoades
thanks
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)
oh wait he said it - got my answer. whoops
how'd you do?
yess f583!!!!
Why do we assume this firm is operating in PC?
How is MRP = Demand line?
Wht country R from?!
I dont even need to know this for AS but still interesting vid :D
any bhabs in the making?
You’re fucking awesome
you beautiful man
grow your beard
He had it in one of his recent
MRP=MPP X p
gash trim in 2016 dal
Thanks
thanks