Monopolistic Competition (Lecture)

Рет қаралды 92,834

Wyvern66 Economics

13 жыл бұрын

Examines the short- and long-run equilibrium of a monopolistically competitive market using graphs and lecture.

Пікірлер: 120

@noelflores8155 4 жыл бұрын

I'll be reporting this in our online summer class next week, SO THANK YOU! Clear explanation on the seemingly complicated graphs!

@ipal5763 10 жыл бұрын

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@TheLord1sMyShield 12 жыл бұрын

Its amazing how in 5-10 minutes you can explain things much better than how they are explained in my 1 &1/2 hour long class. Thank you very much for your help. I passed my midterms because of you!

@jamok3 10 жыл бұрын

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@uawsux 6 жыл бұрын

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@mutigamcanthony1755 10 жыл бұрын

Roger Man! You have no idea how easy you have made my revision become. You have become my Micro-econ House lecturer right from Demand and supply, Theory of the Firms, Welfare and now Market Structures! Thanks so so much. Abstract ideas made simple!

@Guitarangala 11 жыл бұрын

Without a doubt, best online economics teacher!

@ThOnda411 12 жыл бұрын

you explain this much better than any other videos ive tried watching. subscribed! thanks for your time making these!

@ultimage7 11 жыл бұрын

Awesome videos man, you're a great help and you take your time explaining each single part. I don't know what I'd do without you.

@shutterbug7354 9 жыл бұрын

I have sat through a long monotonous semester in Microeconomics and I learned more in this one lecture than multiple lectures from my professor. Wish I had found this sooner. Thanks for this video!!

@Shamelesstrep 9 жыл бұрын

Great video! I think all of us appreciate the simplicity of your lectures. Thank you!

@SyedAlinintendo 9 жыл бұрын

well said

@k190999n 12 жыл бұрын

You are a genius for uploading this video. It's a great help. You can do something that my lecturer tried to do in 5 weeks. Amazing. Easy to understand. Thank you so much!!

@jlcjkberry 10 жыл бұрын

Thank you for posting videos. It is so much easier to learn than just reading from a book. You are helping me through my class.

@rdmammad5721 5 жыл бұрын

Perfect lecturer ever. He is AWESOME. THUMBS UP!!

@scovila 8 жыл бұрын

I wish you would have been my teacher! You explain so well! Thank you.

@chebechebii 11 жыл бұрын

I truly appreciate your effective communication skills:-) my class is covering 2 chapters a day and I would be lost without your videos. Thank you Mr. Strickland!

@indiefilms111 11 жыл бұрын

I love this teacher. he's AWESOME!!! I understand it better when he tells us. my teacher needs to take lessons from him on how to teach

@elsue1 12 жыл бұрын

These lectures have been VERY helpful to me in my preparation for an upcoming Mid-term exam. Thank you very much!!

@bobsod319 10 жыл бұрын

Roger, Thank you for carrying me through my 1st economics class. I could have NEVER made it without your help.

@N64RumblePak 7 жыл бұрын

I've subscribed. You are great at lecturing. Probably going to help me pass my economics class. Thank you for making this available!!!

@kailategan8384 6 жыл бұрын

You are a real good lecturer and know how to simplify things so it can be understood

@bharathraj1352 9 жыл бұрын

Beautiful lectures. Am falling in LOVE with it doc!!!

@bunnypro1224 9 жыл бұрын

I wish I had found your videos earlier! I'm finally really understanding econ! Thank you!

@joepadilla7411 11 жыл бұрын

You do a great job explaining things! Keep the videos coming

@BaibeyChicka 10 жыл бұрын

I wish I had found this channel earlier, through the duration of my course.. oh well I now see light in the end of the tunnel for my exam in a week! Thank you sir!

@SiTides 10 жыл бұрын

What an interesting video to stumble upon while youtubing. Thanks!

@nayabharram3159 7 жыл бұрын

You are legendary. Love your videos. Loads of prayers for you.

@yeseniatorres8786 7 жыл бұрын

the way he explained how to determine the price is so easy. I wish I had watched his video before test

@johnhurley8918 10 жыл бұрын

I think I'm going to have to go back and watch all your micro econ videos. It will really help in class.

@prachijha1380 Жыл бұрын

Hope to see more vdos coming . May you have good health:) . Such good teaching talent .

@malaykchatterjee 9 жыл бұрын

This is simply fantastically explained - many many thanks

@MsPancha2010 12 жыл бұрын

Thanks so much. You are really easy to follow! Thanks for sharing your knowledge!

@xiaoyanxu3460 8 жыл бұрын

as a international student, it is very hard to understand the lecture in class, but your explanation of the graph is very detail. thank for your upload (i have also seen your other lectures )

@narayanbishowakarma3162 7 жыл бұрын

i switched into your channel just today only and its good,keep it up.i thoroughly enjoyed your lecture

@petegreene7254 11 жыл бұрын

your communication skills are legendary, I want you to teach me every subject at my university

@tamilarzayeva1220 7 жыл бұрын

Thank you so much, Sir! I have my Microeconomics final exam tomorrow, you have no idea how much your videos helped me revise the material and understand it better!

@zvoyarakel2842 10 жыл бұрын

i wish my instructor was this clear.

@bobichina 12 жыл бұрын

Love you!!! You are SOOOOOOOOOO GOOD!!! You explain the best way!!!!

@latifkhan9072 9 жыл бұрын

Thank you for sharing your knowledge ..you are amazing ...

@PhAzEisHAWT 9 жыл бұрын

had 24 hours to study for an exam and youve saved me lol

@theresagordon2994 9 жыл бұрын

Great job !

@suvamoypramanik2302 7 жыл бұрын

THIS IS A GREAT ONE AND EASY EXPLANATION OF COMPLEX ...HATS OFF SIR

@TheWyvern66 7 жыл бұрын

And thanks for making my day! :)

@xxxococo 11 жыл бұрын

thank you thank you thank you!!!! made my weekend to much better

@deepakchoudhary7264 8 жыл бұрын

very well explained..really awesome thanks.

@adwanalshammari4087 10 жыл бұрын

Thanks a lot for this clear expalintion and can you add more please. That would be really helpful.

@sbk1398 8 жыл бұрын

Clear and simple. Nice

@sareemis1 8 жыл бұрын

Very explanative. Thank u so much

@Guitarangala 12 жыл бұрын

Really helped me out! Thank!

@emmanuelquansah4173 4 жыл бұрын

Thanks very much. You are simply the best 😍

@keithhudson3138 6 жыл бұрын

Sir, I just found you a couple of months ago. Do you still do videos? Your lectures are addictive, intuitive, and most importantly, makes my Econ 1 life so much easier. Thank you!!!

@turtle1361 10 жыл бұрын

This video helps a lot. Thanks.

@sunder22bhgwan 6 жыл бұрын

Owesome Lecture !!

@johnhurley8918 10 жыл бұрын

Very helpful. It's hard finding videos with clear sesinked explanations.

@jamaicaboy544 9 жыл бұрын

This lecturer is amazing

@TimEindhoven8 12 жыл бұрын

Very good explanation!

@rejinair83 11 жыл бұрын

I have become a fan of you sir. So systematic

@jacktaylor6856 10 жыл бұрын

This is a lot of help

@jesinachibunhe2427 5 жыл бұрын

excellent work

@thanhanhnguyen6241 5 жыл бұрын

Thank you ❤️ from Vietnam

@Vhuimo 11 жыл бұрын

brilliant thanks!!!

@shikhasindhav9629 6 жыл бұрын

wow it's amazing thank you

@reyjomardaluz3027 10 жыл бұрын

Thanks a lot!

@chinaisgrowing 12 жыл бұрын

Good lecture. Thank you.

@jasminefranchesca8265 8 жыл бұрын

Hello, Thank you so much for this....

@artbridder 7 жыл бұрын

Thanks sir, got a B in my overall economics exam and able to secure a uni place in UK

@zainfarooqzainfarooq 11 жыл бұрын

THANK YOU SO MUCH

@thanl212 10 жыл бұрын

you're mah boy wyvern. mah boy.

@TheWyvern66 10 жыл бұрын

And you made my day! Thx! RS

@robbraat4329 8 жыл бұрын

Simply an amazing explanation. Just amazing. Thanks for saving my life. :)

@theall-seeingrinnegan5683 8 жыл бұрын

+Rob Braat Hello, in a monopoly, what's the difference between equilibrium quantity and profit-maximization quantity? Or are they the same?

@robbraat4329 8 жыл бұрын

+the all-seeing Rinnegan I'm not quite sure if I understand your question, but I believe they are the same.

@aamirmughal7852 4 жыл бұрын

One of the best on youtube

@TheWyvern66 4 жыл бұрын

Thank you, sir. :)

@roshanbastola9302 11 жыл бұрын

best lecture plz add more

@amolkamble392 7 жыл бұрын

I have scored good marks in economics just because of you,my GURU,thank you for the videos

@rogerstrickland4004 7 жыл бұрын

Thank you, Amol. I appreciate your comment. What university?

@applethealien2 12 жыл бұрын

love the moustache!

@jahidakrammolla7027 6 жыл бұрын

you r soo good

@TheWyvern66 12 жыл бұрын

@razorback6996: the barriers to entry applies to monopoly, not monopolistic competition. Good question - helps keeps things clear. RS

@atdhd77 10 жыл бұрын

Thanks very much.....

@jackchan1234 12 жыл бұрын

Thanks!!!! My exam is tmr lucky I watched this video :):):)

@dominiclee1820 4 жыл бұрын

This guy was a trust buster

@anilkumarlopinti5313 6 жыл бұрын

nice lecture sir

@Prp1815 8 жыл бұрын

You save my life every time I have economics exam

@TheWyvern66 8 жыл бұрын

+paula Pérez Romero Delighted to hear it! ;) RS

@theall-seeingrinnegan5683 8 жыл бұрын

+TheWyvern66 Hello, in a monopoly, what's the difference between equilibrium quantity and profit-maximization quantity? Or are they the same? Thanks

@jennasalazar4322 11 жыл бұрын

What happens to average cost in the long run for a monopolistically competitive firm? Is it increasing or decreasing? and why?

@AsyaBaspinar 12 жыл бұрын

why no any lectures about nash cournot equilibrium:( it was so important for me to hear from your explanation...

@dragnfly138 9 жыл бұрын

Would you please become an Online Distance Learning instruction for UMUC? We need you!!!

@charlesmbogo5911 9 жыл бұрын

Sammie Watson That is exactly what I was thinking

@christianmartinez-ox9qh 11 жыл бұрын

No wonder it sucks to work in restaurants. It sucks to work in restaurants because they are rarely making economic profit. Either they are making enough money to stay in business or losing money. If I were an economist, I would say choose another managerial position if not for the experience.

@KozueUchino 12 жыл бұрын

what is the difference between a "normal" profit and an economic profit?

@razorback6996 12 жыл бұрын

I have a question: would more firms be able to join this market? because i thought there were barriers that only allow one firm to dominate the market in monopolistic competition, or is that only for a pure monopoly?

@qin1212 12 жыл бұрын

hi sir! is there any videos about price discrimination in monopoly??? thanks before!

@Norseman870 11 жыл бұрын

I like this better than the Khan videos

@Devon_Howell 9 жыл бұрын

I think you are awesome, great source to help learn. I do have one point to disagree on though, because this is a monopoly, the firm will not have to worry about other firms joining the market because of high barriers to entry. Is there something I'm missing here that makes you right?

@kevinlooney9526 9 жыл бұрын

In monopolistic competition there are low (or no) barriers to entry and exit. You're thinking of a monopoly. Though they have similar names that are easily confused monopolistic competition and monopolies are quite different

@SyedAlinintendo 9 жыл бұрын

good

@mansisroai4878 11 жыл бұрын

hie sir,i have a question.here in my book the features of monopoly r given as single seller,no close substitutes,no entry n so on but i am still confused .........if there can't be any entry of th firm into the market then how can there be a competition in a monopolistic market

@vikassingh8321 11 жыл бұрын

in this vedio u have said that 1st feature of perf. com. is very small no. of buyers n sellers,,,

@ratioveritas9983 11 жыл бұрын

05:40 Wait! Why assume the demand curve will shift downward in a parallel way?Would not that be ONLY IF the market as whole, say, changed its tastes or had lower income? Put it this way:suppose population goes up by 100% as tastes and income per capita remains. It would imply for every price P there would now twice as many potential customers as before i.e. where it was $80(q=1), $70,$70 (q=2), $60,60,60(q=3), now it would be $80,$80 (q=2), 70,70,70,70(q=4), 60,60,60,60,60,60(q=6), right? Thanks

@MissDJErinB 7 жыл бұрын

So are the long run equilibriums of both perfect competition and monopoly both the same? or are they different?

@TheWyvern66 7 жыл бұрын

They are very different (to an economist, especially!). :) Given the same cost curves for both firms, the monopolist will operate at a lower level of output and charge a higher price, earning economic profits. Consumers lose from this, generally, which is why we have anti-trust laws in the US to mitigate this. The perfect competitor, you may recall, operates in the long run at the LOWEST point on his ATC curve, representing lower costs, lower prices, and more output - so we consumers can enjoy more of the product at a lower price.

@dombgerinefoxter 8 жыл бұрын

Супер!спасибо!

@BrandonBaunach 5 жыл бұрын

point alpha is life

@torkymf 11 жыл бұрын

oh thank you man . you help 4 student almost get fuck tomo in exam . u r awsome

@tradersid369 7 жыл бұрын

Respected Sir, can you please make a video on "Theory of Excess Capacity under Monopolistic Competition" ?

@TheWyvern66 7 жыл бұрын

I'm in the middle of exams right now, but what they are referring to in that topic is the difference between what a perfect competitor's output would be in long run equilibrium (at its minimum ATC) and where the monopolistic competitor operates (at a smaller output than the perfect competitor, since his demand curve is tangent to the ATC at a smaller level of output. They are saying that the monopolisitic competitor could produce MORE (getting to minimum ATC), but he's too smart for that - he maximizes his profit, doesn't minimize his cost. Does that help?

@tradersid369 7 жыл бұрын

Yes got it. Thank you :)

@zainfarooqzainfarooq 11 жыл бұрын

one may be short run and the other may be long run.. I presume

@acul100 12 жыл бұрын

Well, I think its fair to say, there's only one Pajholden

@N3wbyB3wby 9 жыл бұрын

Has anybody ever told you that you draw really straight lines?

@francisdevlin8347 5 жыл бұрын

What's the music on this track?

@rogerstrickland4004 5 жыл бұрын

It's part of the canned tracks that came on Camtasia. Sorry, don't recall the name.

@francisdevlin8347 5 жыл бұрын

@@rogerstrickland4004 A reply from the Wyvern himself - I'm honoured! By the way, in any of your videos do you cover international trade economics like the Ricardian Model, Hecksher-Ohlin model, the impacts of tariffs and quotas on small and large economies?