Perfect Competition- Microeconomics 3.7

Рет қаралды 384,977

3 жыл бұрын

Hey econ students. In this video I go over the characteristics of perfect competition and explain how to draw and shift the graph. Make sure that you can calculate total revenue, total cost, and profit and show what happens on side-by-side graphs in both the short run and the long run. Also, keep in mind that perfectly competitive firms have both types of efficiency: allocative and productive. If you need more help, watch the PERFECT COMPETITION PRACTICE video in my Ultimate Review Packet. Thanks for watching!
www.ultimatereviewpacket.com/...

Пікірлер: 175

@JacobAClifford 3 жыл бұрын

For the answers to the practice multiple-choice questions click on "Read more". ... 1. D 2. C Need more practice? Get the Ultimate Review Packet. It's FREE to start.

@abiamal7257 3 жыл бұрын

Continues Assessment - 01 The firms operate in Oligopolistic markets are highly interdependent. The firm’s behavior in relation to many aspects (example: - pricing, output, advertising, product differentiation) depends on the actions and reactions of its rivals. Therefore many theories have been developed to explain the behavior of firms operate in Oligopolistic market. With examples discuss how these theories help a manager in analyzing behavior of real world firms and thereby make effective decisions. Continues Assessment - 02 Explain how the price output and profit is determined in monopoly and pure competition and pure competition and monopolistic completion. Illustrate with graphs that pure competition is more beneficial to the consumers than monopoly and monopolistic competition. You will be assessed on Quality not on Quantity. Your answer should not exceed 15 pages. (15*2) This is economic assignment 2 assignment sir could you please sir help this assignment for my studies deadline march 10 please sir

@celsiusfahrenheit1176 3 жыл бұрын

I got it, and I am still struggling!!!! Pretty complicated stuff.

@alexandrakratz1292 2 жыл бұрын

Why is answer D for #1? Wouldn't an increase in the number of consumers result in an increase of demand for gadgets, therefore increasing the MR and making the answer B?

@patricklakeberg8677 2 жыл бұрын

@@alexandrakratz1292 Yes there is an increase in demand which will increase MR! If the MR increases so does the price (MRDARP) if the price increases without a change in ATC than you will be making more money. Think about if the ATC is $4 and the price is $5 you will be making a dollar. This is all in the short run though remember that it will all even out later.

@royg2317 2 жыл бұрын

correcto

@ArshmanBalouch 3 жыл бұрын

Bro you're an actual legend. I hope you get everything you want in life

@luyando1770 2 жыл бұрын

I AGREE...HE DESERVES IT ALL

@peterxu2410 2 жыл бұрын

where's the answer key?

@mobiledude5229 2 жыл бұрын

where is the answer. thank you.

@Lakostus31 2 жыл бұрын

@@mobiledude5229 down in the comments you need to scroll :) the answers are d) and c)

@goodftoest Жыл бұрын

Thanks bro

@maumaunze8559 2 жыл бұрын

Thank You Mr Clifford for your videos. I passed my exams all the way from Zimbabwe🇿🇼. May you continue helping other people across the world.

@eduardo-cf1iw 2 жыл бұрын

congrats bro !

@petermora247 8 ай бұрын

Thank you for providing comprehensive, yet easy to understand content. I started watching your videos in high school when I took macro (my school didn't offer micro), and now that I'm at Brown studying microecon, your videos have been an invaluable way to study for my midterm.

@ankitbhujel8775 Жыл бұрын

Cleared all my econ modules with the help of your tutorials. Huge respect.✊

@soroush7790 3 жыл бұрын

I had the best times of my academic life watching these videos. I didn’t realize how much I’ve missed school. Thank you Mr. Clifford.

@zafrymubarak3664 Жыл бұрын

WTF are you doing here then! rewatching them? :))))

@spiritualnav2617 Жыл бұрын

Speeding through these AP assignments thanks to these life saving videos!

@rachelwang1342 2 жыл бұрын

just wanna say thank you so much you really made ALL CONCEPTS crystal clear

@09msol 2 жыл бұрын

Glad that you are back with new videos. Love the way you explain!

@greentea0956 2 жыл бұрын

professor clifford...i pray for you to achieve ultimately everythign you want in life. you're the reason i am getting full marks in my eco201 course. thank you so much. i am liking every one of your videos and promoting them amongst my colleagues. i hope you get more recognition for your efforts!

@aryanchand3551 2 жыл бұрын

bro i am learning this stuff 8th grade

@greentea0956 2 жыл бұрын

@@aryanchand3551 im glad u had access to those courses at that level!

@aryanchand3551 2 жыл бұрын

@@greentea0956 well i am not appy with it lol

@calebgodard4554 3 жыл бұрын

Awesome video! I'll be back in about 3 years when I want to review all these concepts. Also guys buy his Ultimate Review Pack! I got a 5 on both exams after using them

@uofmoon4941 2 жыл бұрын

Thank you for the amazing explanation! Straight to the point with the simplest explanation possible!

@fjlearnon58 2 жыл бұрын

Nice explanation. I am an economics lecturer. Your classes are really impressive. Thank you sir. God bless you

@Rbl6655 Жыл бұрын

These videos showed me everything I didn't understand in class. Thank you so much for making these!!

@Joyodeniyi 2 жыл бұрын

Thank you Mr. Clifford, this is really helpful for a clear understanding

@zacharylai7142 6 ай бұрын

Thank you Mr. Clifford for making economics easy to understand!

@owenmac3788 7 ай бұрын

You are what teachers should be and make people want to learn more

@ric6383 2 жыл бұрын

Seems to be pretty good compared to other economics videos. Studying A level economics in my spare time, exams May 2023, so these really help!

@leo.ballislife4696 Жыл бұрын

how did it go?

@bothoum8477 3 жыл бұрын

Appreciate the video, helps a lot in econ class.Thank you.

@sircookieknight8566 Жыл бұрын

Still gonna fail my test tmrw but this def will get me close to a 60. Thank you bro

@ivanjamesledres3831 Жыл бұрын

it really helps me understand what the four market structures is all about.

@jlvillanueva3915 Жыл бұрын

This video is very helpful. It helps me to understand what are the four marketing structure well.

@anasafzel5865 3 жыл бұрын

hello sir my self samreen Iam from India I have seen your video its so nice...and I can understand very will...THANK YOU SO MUCH... for this lovely video...keep making like this...

@NguyenTran-eq2wg 3 жыл бұрын

You just f**ked 4 hours of my prof's lecture with 30 minutes of KZfaq videos. Love 'em!

@neophytte 3 жыл бұрын

having my micro test literally tomorrow, this is so helpful.. thank you

@Emilymakesthings 2 жыл бұрын

How’d it go?

@neophytte 2 жыл бұрын

@@Emilymakesthings yes it went well :) got a 95! thanks for asking

@sheikhshahmir6518 2 жыл бұрын

For home schooled students like me, we cant thank you enough ur a absolute legend 💕 gonna pass my alevels cuz of u

@MackyMusic630 2 жыл бұрын

I'm homeschooled as well, and this really is helping me with my a levels

@darlingcharming5594 3 жыл бұрын

My favorite online economics is BACK BABY

@lopezmatt2214 2 жыл бұрын

Going to Harvard and I come back to your online classes to supplement. Great job! I want what you eat.

@gecelremedio9581 Жыл бұрын

The explanation was on to the point and i could understand it clearly

@xijinping2906 3 жыл бұрын

I was studying this topic and took a break. Then I saw this video. Now I am going back to study.

@khojiakbarkobilov 2 жыл бұрын

I appreciate all of your video lessons )

@njrose06 2 жыл бұрын

Unspokenly your way of teaching! I would love economics because of you..In how much period of time I shoud learn and be aware for it?

@gd2860 3 жыл бұрын

Dude love your vids. You totally make it not boring like in class.

@priyankasuresh124 3 жыл бұрын

🌟Class plus enterment🌟that is clifford sir👨‍🏫 😍 lv ur teching styl sir.🔥🔥 ♥️lv frm India.♥️

@breadstick4187 3 жыл бұрын

🥺he is growing old on us guys

@ayshakoya3781 2 жыл бұрын

true... just show his monopolistic video and he was way younger .. lol

@user-bz5io6ph8w 2 жыл бұрын

Excellent videos!

@sophatt 3 жыл бұрын

As always, THANK YOU

@helendsouza4430 3 жыл бұрын

best ecom teacher ever

@pooja8140 3 жыл бұрын

Your videos have been very helpful. Thanks for such simple explanations!!!

@amayabrown4365 2 жыл бұрын

saving my academic career right now

@samiulghani3153 Жыл бұрын

Thank you for making A levels easier.

@SristiBardewa 4 ай бұрын

Thank you soooo much clifford!! Hope to pass the exam this timeee

@firmandjoyfullearning5954 2 жыл бұрын

Thank you sir. I have explained economics concepts in Malayalam

@parthdhiman8724 3 жыл бұрын

thanks sir for amazing videos

@migzwrld909 3 жыл бұрын

Thank you!

@M7_Saffar 2 жыл бұрын

Where is the answer key 🤔

@sugarskookie Жыл бұрын

i love this man

@sualehahmed4250 2 жыл бұрын

Amazing 🤩

@Benjaminthemighty 2 жыл бұрын

Your stuff is great

@arsalankhan9994 2 жыл бұрын

You rock ! clifford :)

@TehAndehhh 2 жыл бұрын

love you man

@abrarfahim3516 9 ай бұрын

This man is a blessing from god

@xornews 3 жыл бұрын

Sir, could you please tell me which book you are following? So that I might download a PDF copy of the book. In my country we are thought from a different book. That's why I get confused a lot. I'm from Bangladesh.

@beboysub 2 ай бұрын

Thank You kind Sir

@vantero6553 6 ай бұрын

I think ,if you were my teacher I never miss my lectures!

@leoyan4847 3 жыл бұрын

Been waiting for this video forever! Thank you!

@manasadeepak5613 3 жыл бұрын

clifford you the amazing economist 😂😂😂😂😂😂😂😂👍

@axelmiller3441 8 ай бұрын

Good video 😊

@dongskijyu8583 2 жыл бұрын

Very useful in my comprehensive exam. I learned a lot from your videos. However, i hope you could talk a bit slower. Overall, i appreciate all videos i watched from you

@WaltDittrich 3 жыл бұрын

I'm going to have to watch this video a couple times. I'm missing something. Thankfully, I purchased the Ultimate Review Packet. 👍🏻

@brandiiiiine 2 жыл бұрын

yesss

@tach212 3 жыл бұрын

Hi Mr. Clifford how can I get access to the practice exams I forgot where to go

@smit17052 10 ай бұрын

IT WAS GREAT

@floridaman7243 7 ай бұрын

I got D and C for the MCQs

@thefootballhunter8614 6 ай бұрын

Me too.

@NeverRests 5 ай бұрын

same

@param1209 2 жыл бұрын

God Bless You :)

@blast2686 3 жыл бұрын

Please make a video on Pricing such as cost based pricing,competition based pricing etc

@hasibryan 3 жыл бұрын

AND I understood something finally

@kaustubhk9408 3 жыл бұрын

Wow! I like Mr.Darp! Is it for sale in addition to your merchandise? Lol

@tach212 3 жыл бұрын

I got the Ultimate Review Packet bit how can I log in to have access?

@ireviewfastforyou 2 ай бұрын

the similarities between heimler and mr. clifford are stunning

@s.m.2607 Жыл бұрын

love from Bangladesh

@emergingschoolofeconomics2065 3 жыл бұрын

Nice

@samanyugowda1739 Ай бұрын

I'm a bit confused. Perfect competition means that demand is perfectly elastic therefore horizontal, but in the graph on the left during the first few minutes shows a demand curve with a slope. So even if new firms enter the market and supply goes up, why would price change?

@8fpsstopmotionstudios726 Жыл бұрын

Mr.Clifford, I have a question. If Perfectly competitive firms produce at the socially optimum output for society, does that mean there will never be externalities or does the term "society" means the private consumers in the externality market and externalities can still occur?

@atmajp9275 9 ай бұрын

no, externalities dont exist in a perfectly competitive market

@user-il9dh8xk9q 8 ай бұрын

Bro smelt the bad milk and put it right back onto the shelve. I respect that.

@moseskiputa6837 3 жыл бұрын

Wow you look good.

@overonix7559 2 жыл бұрын

1 - D, 2 - C

@brandiiiiine 2 жыл бұрын

Do you actually keep that milk there from the demand and supply video? I really hope it's just water with food colouring because that seems very unsanitary (but pretty cool ngl)

@tahoo3511 2 жыл бұрын

are the answers in the end D and C?

@alipaf2002 Жыл бұрын

Why price fall more firms entering the market when the market is competitive and supply increase does not change price ?

@ericacorrea5611 Жыл бұрын

If it was not for you I would be definitely failing this class. Thank you

@Detr0y 2 жыл бұрын

Where is the answer key?

@ryandudek3244 2 жыл бұрын

I love you.

@pinkstrikeps1507 2 жыл бұрын

I don't see the answers for the Pop Quiz at the end of the video. I tried scrolling through the comments and looking at the description. But I love these videos. They are saving my grade!

@Chris10riginal 2 жыл бұрын

the algorithm just puts the comment lower, it is still there - the answers are 1D and 2C

@pinkstrikeps1507 2 жыл бұрын

@@Chris10riginal Oh, okay. Thank you so much. I am used to the comment being pinned. But that makes a lot of sense.

@user-lc5zz6ve8x Жыл бұрын

where is the answer key

@NguyenNamNguyen 2 жыл бұрын

D C

@yangpatrick364 Жыл бұрын

where are the answers for the pop quiz

@madonnainfurs 5 ай бұрын

omg mr jacob with a beard!!!!!!

@neyhannaguib6101 Жыл бұрын

ily

@steven_king 4 ай бұрын

WOW! With the beard you don’t look like Mark Cuban anymore! You look like King Leonidas!

@NeverRests 5 ай бұрын

D then C

@kattuchyatekostyle8695 2 жыл бұрын

Bro, we are taught that perfect competition doesn't really exist in real life, if it isn't so,then tell me chicken meat markets is perfect competition or monopolist???? Please answer!!!!