Intro Econ: Completing a Production Cost Table

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Intro Econ: Completing a Production Cost Table

Рет қаралды 90,530

Matt Birch

Күн бұрын

I use equations for total cost, average costs, and marginal cost to complete a cost table with missing entries.

Пікірлер: 73

@NonMundane 3 жыл бұрын

I have learned more in this 10 min video than I have in the countless lectures and reading material.. THANK YOU!

@MattBirch 3 жыл бұрын

Well THAT is good to hear! Glad it was helpful. If you know other students who are struggling, please spread the word.

@tahnikakeyshay 2 жыл бұрын

And that’s sad b/c they get paid to teach us ! I feel the same

@Coast2Curb 4 ай бұрын

@kaylashoemaker5 2 жыл бұрын

watched this video the entire time i was doing assignments & i have learned more from this video than i did on the notes that my professor provided...thank you so much for making it simple to understand!

@MattBirch 2 жыл бұрын

It was my pleasure! Good luck!

@Mrhenry20 10 ай бұрын

@mawuenamdoe489 2 жыл бұрын

I’ve learnt more from this video than any of the other videos I’ve watched. Thank you

@MattBirch 2 жыл бұрын

You're welcome! Good luck!

@cluhbin6757 2 жыл бұрын

Hey! I appreciate the help. I’m a freshman in college taking the intro to Econ and this will literally help me maintain my A on our next exam. I’m going to subscribe for Econ 2 study practice next semester LOL.

@MattBirch 2 жыл бұрын

Glad to hear it. And please do! I made tons of these.

@vanessamusakabantu9014 7 ай бұрын

i have learnt this in 10 minutes which i havent learnt in several lectures worse more im studying in russian language , now ive just realised its actually easy

@MattBirch 7 ай бұрын

That is awesome! I am glad it helped!

@awkward_chaos8322 9 ай бұрын

Cramming for my econ test and this helped a lot. Thank you!

@MattBirch 9 ай бұрын

Glad to help. Good luck!

@dinmajoy05 3 жыл бұрын

Thank you soo much honestly for this video. Now I'll be able to understand it more and pass it anytime I see a question. God bless you soo much sir because you've helped a lot with this video.

@MattBirch 3 жыл бұрын

Joy it is my pleasure! Glad to help. And good luck!

@isaachawn22 2 жыл бұрын

Thank you, My professor talks way too fast and this laid it out nicely.

@MattBirch 2 жыл бұрын

Glad to help!

@Coast2Curb 4 ай бұрын

Thank you so much for this video! you just saved me on one of my assignments.

@MattBirch 4 ай бұрын

My pleasure!

@user-rp8on2oi2g 6 ай бұрын

Thank you very much!! you've saved my life, i have an exam tomorrow :)

@nazifatasnem5001 2 ай бұрын

he deserves 1M subscribers

@MattBirch 2 ай бұрын

Haha, I wish! But thanks!

@ambersingh3175 3 ай бұрын

watching from india love u sir we respect u

@MattBirch 3 ай бұрын

Well Amber, this comment made me smile! Thanks for the kind words, and I am glad you liked the video!

@ambersingh3175 3 ай бұрын

@MattBirch you are a great teacher we need more teachers like you, you are very kind and very informative and u sound very sweet i love u soo much. 💯💯❤️❤️ I am turning 16 this year but never met a teacher like u

@deborahspogter106 4 ай бұрын

Thank you this was incredible and informative

@MattBirch 4 ай бұрын

I am glad you liked it! Good luck!

@maryelizalacsonmaceda7055 3 жыл бұрын

Thank you. ❤️ I solved my assignment coz of this vid. TC was the only given in the table. 😂 very big help. ❤️

@MattBirch 3 жыл бұрын

I am glad to hear it! Good luck with the rest of your class!

@JosephineLee-tz5uk 9 ай бұрын

Thanks it was helpful but to me, I think you were a bit fast is it okay if, you kinda slow down a bit ? 🥺🥺

@StroInTheShell 5 ай бұрын

This was excellent. Thank you sir

@dennisgiovanni2668 7 ай бұрын

Thanks sir

@MattBirch 7 ай бұрын

My pleasure. Good luck!

@user-ip4kd8de3t Жыл бұрын

GOD BLESS YOU!

@MattBirch Жыл бұрын

Haha, I hope so! Glad you liked it!

@Svmagobs 2 жыл бұрын

You are the best of the best! Thank you

@MattBirch 2 жыл бұрын

Haha, thanks! Good luck!

@TegenehailemeskelGebre 3 ай бұрын

Thanks more

@MattBirch 3 ай бұрын

You're welcome! Good luck!

@TegenehailemeskelGebre 3 ай бұрын

@@MattBirch tanks for talking me have a nice time

@chinelvisvensah5550 2 жыл бұрын

Wonderful

@parthbavishivlogs 2 жыл бұрын

Thank you. Great explanation 👏💯

@MattBirch 2 жыл бұрын

My pleasure! Glad it helped!

@justarandomcitizen2380 3 жыл бұрын

Sir what if there no fixed cost indicated in the table. how can you solve for it if the quantity for example is 10 and the variable cost is 12 and the TC is lets say 112?

@MattBirch 3 жыл бұрын

On any row where you have (1) TC or ATC and (2) VC or AVC you can use FC=TC-VC. Or if you ever have AFC you can calculate FC.

@nandichilembo669 Жыл бұрын

This was very very helpful

@MattBirch Жыл бұрын

Awesome! Good luck!

@lauma-sj3ql Жыл бұрын

Thank you very much

@MEGAJOHN1019 Жыл бұрын

Thank you this helped a a lot

@MattBirch Жыл бұрын

Glad to hear it!

@poetaetoe8833 Жыл бұрын

Thank you so much!!!

@MattBirch Жыл бұрын

My pleasure!!

@cjangelino3075 6 ай бұрын

What if it's only MC TC FC is given but the change in quantity isn't. how do you solve for change in quantity?

@MattBirch 6 ай бұрын

Then you use the marginal cost equation and apply it to the total cost before and after. Good luck!

@loganmundie9636 Жыл бұрын

What if you have quantities of 0 1 2 3 4 5, but no FC, VC, AVC, TC, or ATC?

@MattBirch Жыл бұрын

Then you need more info.

@elviswalla1560 2 жыл бұрын

How do I calculate total variable cost per unit. For instance my unit is 2 and total fixed cost is 50 and total average cost is 25 what is the total variable cost

@MattBirch 2 жыл бұрын

Use your equations. ATC=TC/Q, AVC=VC/Q, TC=FC+VC, etc. Good luck!