Profit Maximization, Revenue Maximization and PED in Pure Monopoly

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Күн бұрын

This lesson will examine the profit maximization rule as it applies to a pure monopolist, and introduce the revenue maximization rule, which tells a monopolist the quantity it should produce at in order to earn the maximum level of revenues possible. We will examine the level of economic profits earned at one level compared to the other. Additionally, we will look at the price elasticity of demand for a monopolist's product by revisiting the total revenue test of elasticity.
Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! econclassroom.com/?page_id=5870

Пікірлер: 46

@HIGHzONzLIFE 7 жыл бұрын

pay £9,000 per year in uni fees just to come on youtube to find this guy condense 2 x 3hr confusing lectures into 18 mins of simple brilliance ... Thanks?

@JasonWelker 7 жыл бұрын

Thank YOU! Please subscribe!

@richardmontana404 7 жыл бұрын

This girl is right. Universities do not need you or your success but your money. Great Lecture.

@devinrohan6122 2 жыл бұрын

instablaster.

@saolaomangala2317 6 жыл бұрын

Thank you! You are great!! by watching you draw the graph and explain,you make (micro) economic studying more understandable for me. Thank You!!

@yamax1 11 жыл бұрын

I got two economics teacher now-) Thank You Jason, you are one of them, my favourite one -). The message is clear and I started to like microeconomis.

@teryn569 12 жыл бұрын

Thanks so much! This video is excellent. It shows how to draw the profit and revenue maximisation point and really explains all the concepts and reasons behind them well.

@sandasimanage1072 3 жыл бұрын

thank you for being that greatest economics teacher!!!

@samidessuky5151 5 жыл бұрын

This was extremely helpful, keeping putting content like this up for us students !

@NkemUchendu 11 жыл бұрын

Jason your tutorials are great. Thanks alot

@squablywablly 10 жыл бұрын

your videos REALLY help me with revision. thanks so much from Kenya!!

@alisonhill9355 9 жыл бұрын

Great videos!! Thank you. I learned so much and so much made sense.

@VarunGupta45 7 жыл бұрын

You make it excited. Great work.

@agustinarodriguez4823 4 жыл бұрын

love your lessons and the intro track is great

@mohammeduthman5225 5 жыл бұрын

thank you for clearing my concept of understanding curves

@microeco2 11 жыл бұрын

Excellent , clear explanation of the concept..well done ...

@kmkmization 5 жыл бұрын

Thank u cheers from Egypt

@keshaviranjantiwari7674 4 жыл бұрын

Great lecture thank a lot...by true of my heart

@richardg4x4 9 жыл бұрын

Would be awesome if you could put links to the first video of the series (i'm not sure where to start) Awesome videos! Thank you

@noelaamolo9451 3 жыл бұрын

Nice lecture I like his explanation

@hanamariza 11 жыл бұрын

Thanks, help me a lot

@maus1919 10 жыл бұрын

Thank you!

@Keezie27 8 жыл бұрын

Really good video

@newonthesite1 11 жыл бұрын

Nicely done with clear, clean explanation and drawing! Thanks.

@mohtoadh 8 жыл бұрын

Thank you.

@baliparhar2465 10 жыл бұрын

wow too good. better than my teacher

@lisaschwarz1970 11 жыл бұрын

thank you!

@ryanbeach5858 6 жыл бұрын

KACHOW, I FEEL THE POWER OF KNOWLEDGE

@MrPemiljayasekara 10 жыл бұрын

thanQ ,, this helped me with my xams

@matthewchina2755 5 жыл бұрын

A related question to the last: It's just coincidence that Qrm is at the same Q point such that going upwards intersects MC?

@pistachionuts3886 7 жыл бұрын

how monopoly maintains its profit sir?

@elliotfourcassie1147 2 жыл бұрын

whats the name of the song at the beginning?

@ayushiagrawal1149 4 жыл бұрын

Sir I have a question....plz answer....will a profit maximizing monopoly will always produce output that is less than output that maximizes sales revenue???? Sir pla answer

@neha_234 Жыл бұрын

I am not able to go to the website link given below

@AmyLee-kc5pd 10 жыл бұрын

Why might a firm want to max revenue instead of profits?

@janetbarangian8351 11 жыл бұрын

anyone can help me how to join this!!

@truman5560 3 жыл бұрын

shouldnt it be when MR>0, PED>1, vice versa?

@truman5560 3 жыл бұрын

nevermind, the data got corrected at 16:19

@123jwetz 8 жыл бұрын

I need the name of the song at the beginning of this video

@Kublai_jesus 7 жыл бұрын

Making me nervous

@sarahmorgan9844 5 жыл бұрын

three years late but.. I shazammed it and the song is Making Me Nervous by Brad Sucks

@art_wild_west 10 жыл бұрын

Something is wrong in elasticity explanation. Elasticity deals with % and MR is in $. No metter if MR is more then 1 or less - demand can still be elastic