Micro 4.1 - Imperfectly Competitive Markets

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Күн бұрын

This video covers topic 4.1 of the AP Microeconomics Course Exam Description (CED). This video is all about Imperfectly competitive markets. It exlplains how imperfect competition is different from perfect competition, how firm demand curves are different within each market, and why imperfectly competitive firms are not allocatively efficient.
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Пікірлер: 19

@fen17072010 2 ай бұрын

Omg. I was confused with imperfect competition. But after your video it makes all sense! Thank you so much

@ReviewEcon 2 ай бұрын

Awesome! I'm glad it helped! Good luck on your exams!

@Leleandstandordfp 2 ай бұрын

I have a test tomorrow this was so helpful thank you! :)

@ReviewEcon 2 ай бұрын

You're very welcome! Good luck on your exams!

@alimadi9053 3 ай бұрын

Thanks for the video, keep up the great work :)

@ReviewEcon 3 ай бұрын

You're very welcome!

@jayxo4012 Жыл бұрын

Amazing Content !

@ReviewEcon Жыл бұрын

Thank you!

@chris60256 3 ай бұрын

great video you are very good at explaining

@ReviewEcon 3 ай бұрын

Thank you! Good luck on your exams!

@WijthaGayan Жыл бұрын

Why do firms operate at their efficient scale in the long run in a perfectly com- petitive market?

@ReviewEcon Жыл бұрын

Wrong video for this question, but productive effiency is where a firm produces at the minimum ATC and allocative efficiency is when producing when P=MC.

@ronniec9841 4 ай бұрын

Hi, about the last part about efficiency. Does this mean that imperfectly competitive firms always have dead weight loss since they're pricing up at the demand curve? Thank you!

@ReviewEcon 4 ай бұрын

As long as the firm is profit maximizing (the assumption unless otherwise specified), they will sell at a price greater than marginal cost and have dead weight loss. So you are correct! They are not productively efficient.

@ronniec9841 4 ай бұрын

@@ReviewEcon Thank you so much!

@user-rm2mg7ye7m 4 ай бұрын

Sir please is oligopsony,monopsony, oligopoly and duopoly Same with what you just explained??

@ReviewEcon 4 ай бұрын

Oligopoly and duopoly apply to this video, but monopsony and oligopsony are not. I cover monopsony here as a factor market: kzfaq.info/get/bejne/ZpNpecSX07K3lHU.htmlsi=g4jqRBfNVoB3IhpA Unfortunately, I do not cover oligopsony as it is not part of the AP micro exam (the focus of these content videos).