I learned more in 2 minutes than i did seating in class for an hour and a half. Thanks!

This was soooo helpful, especially for someone like me who can pretty much do well at work and other classes but crumble at the sight of even basic economics graphs. -.- Thank you!!!

Perfect, thanks man. Better teacher than my professor in less than 2 minutes!

Thank you for providing such a video to clear the all doubt in the easy way without wasting of more time 🙂 🙂🙏🙏

Thanks for posting this! My textbook is so confusing and you made it so clear

Please bear with me as my only background in Economics is my 1 first Lecture last week at Post Grad level and I'm a mature age student. I'm a little confused when you calculated Marginal Cost. You said "Change in TC($1000) divided by 200 divided by 100= $10. I don't understand that part of your explanation. For me it is easier to calculate Change in TC($7000-$6000=$1000) divided by change in output(200-100=100) That is $1000/100 = $10. Everything else is fantastic.

14 years ago and still being watched now is crazy

Sitting at online classes but this explains everything... Thank you po

Thank you sir. I've had a problem on that but I learned it all in 2 minutes and I thank you again. 😊

Better explanation than my prof...many thanx

You helped me calculate Marginal Cost in two seconds :) Guys I got a Micro midterm tomorrow. T.T

Appreciate the feedback. It is always great to hear my videos are helping students.

The only youtube video with marginal cost done on this excel format. Thank you thank you thank you!

Good observation... I did revise and update all the theory of cost videos (they are much nicer and voiced over in a studio). I added a link to those video in this videos description.

hundreds of videos and books altogether watched and read, and non of them explains how to get short run marginal cost.TY very much

thanks a lot, I was absent for 2 days in online class, but this helped me catch up!

I also just learned with this video what I read two chapters on, and didn't fully understand it till I saw this video. THANKS!

Very good question. Since I do not provide any cost information before 100 you can't calculate Marginal Cost before that. The first place you can calculate marginal cost is going from 100 to 200 units.

The hard part is not the screen recording it is the animations that I put together. Thanks for your suggestion tho and I will definitely check out Camtasia.

thanks i really liked your video for reference, after i have studied this long time ago,i forgot the way its calculated, this is a very good video to remember not to learn the concept.

1:18 "200 divided by 100 which is course 10." He accidentally skipped saying a whole line LOL

Thank you man. This really helps me to finish my homework

Yes you are correct you need both Fixed Cost and Variable Cost. Btw, are some of the other values elsewhere in the worksheet which forces you to work backwards?

Thanks for your feedback. That is useful for me to know. I did redo this video and you can see an entire playlist called, "Cost Theory" on my channel economicsfun.

This vid is amazing! Thank you for this contribution to society!

I use a variety of different software including photoshop, illustrator, HTML5, Final Cut, GarageBand and a few other products. Each video takes me a long time to create. My rule of thumb is each minute of video takes about 12 hours to create, so a 7 minute video takes me about 84 hours of development time. I hope my videos have a long shelf life.

I thought they would have done it that way, to work backwards... But that was all the information they gave ! I'd see my lecturer about that :) thanks

this is video by far saved my assignment thank you so much

Thanks for the positive feedback, always great to hear. Make sure you like MyBookSucks on FaceBook (see link in video description). This will help others find the educational videos.

The only thing that helped me understand marginal cost

Help me understand where in the video you are referring to. The calculation for marginal cost is change in total cost divided by change in output which is (7,000 - 6,000)/(200-100) or 1,000/100 = 10.

thankx buddy..loved it... i was so much baffled before watching this video... once again thank you...

thanx man u save my exam

Really greatly explained. Simply u make understand a large topic❤

Thank you, I was struggling for the right answer. Thank you

I really appreciate the video. It helped me on my homework.

you made my life much ez, thank you *thumbs up*

saved me a lot of time and so straight forward

how did you get the variable costs though/? my teacher gave me an empty column, and im struggling to calculate the variable costs.

Thnku so much making this vedio is very helpful to me 🙌🙌☺️🤗

U save lives

It’s really good

pls post a video on long run production theory where at least capital and labour are variable. thank you

Those are really goofy to figure out because you have to work backwards. You can post Messages with attachments on MyBookSucks FaceBook page (see link in video description). If you post it perhaps I can look at it. Remember that AVC is Total Variable Cost divided quantity -- so quantity x AVC = Total Variable Cost. Marginal Cost is the change in Total Cost due to a 1 unit increase....so Total Cost of the last unit minus Marginal Cost gives you the previous total cost...

Quick and useful !!! thanks

I really found this helpful thank you so much

💕💪🏾 Just 2mins and am ready to write my test

Wonderful to hear!

thank so much!! this was so helpful

Thank youuuuuuu🫂🫂🫂🫂 in 2 min you solved my the problem that I had for months

Great to hear. Make sure you like MyBookSucks on Facebook, this will help others find he educational videos (see link to FB page in video description).

thanks for the explanation man.. btw to make videos takes you 84 hours? holy man. that is lots of time to dedicate too. Get Camtasia, it allows you to screen record and it will directly allow you to upload it to youtube. hope this helps. thank again.

Hello ! I have a question... for my worksheet paper they only gave me the output and the total cost and said to calculate the AVC, ATC and AFC... is that even possible since I don't have the FC and VC?

Thank you so much!

Typically in economics variable cost is given. In practice you would have total cost and work backwards to calculate variable cost.

thanks a lots was really good better than my prof .

How can I find a variable cost? Sometime in my homework they don't show the unit of variable cost. Please help!

Well thank you very much! Make sure you like MyBookSucks on FaceBook (see link in video description). This will help others find the videos for reference and for learning it the very first time.

Quick question. What program do you use to make these videos? Right now I'm just assuming you used any editing software and simply pinpointed the blue highlight to match your voice. I'm just looking for ways to do this more quickly

That was AWESOME ,, huge of THANKS :) .. Finally I got it .. Thanks again

Thank you to sloveing my doubt

Sooooooo helpful 😊

Thank you so much for this❤

Thank you for your suggestion !

Thank you so much for this sir.

"200 divided by 100... is of course 10" true story

O bro 😢 you are legend

thanks sir but i want to explain the different between total cost and total factor cost and so total value product and total reveneu i hope to get the answer thanks

Thank you very much! Much appreciated

Thanks mate right to the point.

dude! thank you so much! i learned a lot! just subscribed! :D

Thankyou sir

he says 200/100 but it is 200-100. fucking confusing.

Why is the first column ($10) for MC blank?

I am not sure I understand your question because you ask, "how do you calculate ATC when given ATC, AVC, MC?"

but what if total cost is not given? only marginal cost already given? how to calculate then?

You saved me

You may have Fixed Cost without knowing it. You say you have output and Total Cost. Do you have Total Cost where output is zero? Although in the example above output starts at 100, if your chart has a zero-output level, then you know what Total Cost is when you send all the variable units home . . . so that's Fixed Cost. Simply, if at Q=0 TC=$2357, then FC=$2357

Helpful vid! but you didn't show us how to calculate Total Cost... only the ATC

So there are two ways in which ATC can be calculated ? Correct me if im wrong please. These ways are AFC+AVC OR TC/OUTPUT

I understand very well😉

I have created an entire new playlist on Cost Theory (and I hope I simplify the explanation a bit better). I included a link the playlist in the video. Please let me know if there are any specific topics in your economics you need help with or clarified too. This helps me understand what topics students are struggling with. Good luck with your grad program as well.

this is good

I'm having TP VC MC 40 1850 60 ; ; 65 ; ; 70 How in the f am I gonna find those 4 uknown numbers? TP is obviously 50, 60 but I need to *know the way* it's done, can't find much online

Good to hear...so what you are telling me is "MyBookSucks." Make sure you like MyBookSucks on FaceBook (see link in video description). This will help others find the educational videos.

life saver

How do I calculate the variable cost?

Hi, How can I find the rest of the column if I am only given Marginal Cost and Average Variable Cost? Thank you

Good video😊😊

I hope ma teacher would be like you

niceee thank u i remember again lol

Did i miss the explanation on how to calculate total cost? The title says how to calculate total cost but you started off saying it was givin, so I still don't know how to get it..

thank you

thanks mate.

I want to thank you so much

That really threw me off too. Should really fix that. I had to watch that 10 seconds 5 times to figure out that he was just saying the wrong thing.

how to Draw thier Graph plzz guide soon

thanks

In my problem. This does not work for Marginal cost. I know because my professor marked me wrong for it...

He said 200÷100 is 10 lol But I understood the rest thank u