Y2 13) Perfect Competition

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  • Опубліковано 1 гру 2024

КОМЕНТАРІ • 168

  • @amyxmil
    @amyxmil 7 місяців тому +107

    I felt my heart rate increase when I understood why perfectly competitive firms earn supernormal profits in the short run but not in the long run

    • @lillyidk1358
      @lillyidk1358 7 місяців тому +4

      same😭

    • @qwertymehta8342
      @qwertymehta8342 6 місяців тому +5

      Do you have the AQA exam next week? 😭

    • @lillyidk1358
      @lillyidk1358 6 місяців тому

      @@qwertymehta8342 yes😔😔😔😔

    • @soundeffecthub5179
      @soundeffecthub5179 6 місяців тому

      @@qwertymehta8342yup

    • @Homosamuel
      @Homosamuel 6 місяців тому +1

      ​@@qwertymehta8342 now it's tomorrow ;-;

  • @emilyyi2250
    @emilyyi2250 5 років тому +396

    you are. literally. the. best. Econ. teacher. in. the. whole. damn. world. ILY dude

    • @devd.chatterjee5725
      @devd.chatterjee5725 4 роки тому +33

      that's how desperate us Eco students are

    • @codydylan6042
      @codydylan6042 3 роки тому

      i guess im asking randomly but does someone know of a tool to get back into an instagram account?
      I was dumb forgot the password. I would appreciate any tricks you can give me.

    • @brentleycorey3765
      @brentleycorey3765 3 роки тому +1

      @Cody Dylan Instablaster :)

    • @codydylan6042
      @codydylan6042 3 роки тому

      @Brentley Corey I really appreciate your reply. I got to the site thru google and Im waiting for the hacking stuff now.
      Takes quite some time so I will reply here later with my results.

    • @codydylan6042
      @codydylan6042 3 роки тому

      @Brentley Corey it did the trick and I actually got access to my account again. I am so happy!
      Thanks so much you saved my ass!

  • @redlethargicdevil
    @redlethargicdevil 14 днів тому +3

    man deserves an award for making eco a level so easy to understand

  • @bhavculleechurn2326
    @bhavculleechurn2326 5 років тому +197

    This feels like watching Bob Ross paint "We get this *lovely* box"

  • @cmilli193
    @cmilli193 4 роки тому +181

    A PhD's three hours' lesson(my teacher) is not as good as a ten mins' video on the UA-cam !
    You are really the best Economics teacher I have met so far ! Thumb up!

  • @LindaAndrews-ly1qf
    @LindaAndrews-ly1qf 8 місяців тому +6

    1. PRICE TAKERS horizontal line
    2. AC Curve below AR as it is supernormal
    3. Profit max = mc=mr

  • @servantofallah8029
    @servantofallah8029 3 роки тому +50

    Your videos ARE SO GOOD. You are saving my A-Levels mate.

  • @bharathr6029
    @bharathr6029 4 роки тому +47

    The Best Economics sir. I hated economics and thanks to you sir, it has become easy to learn these concepts and the theory behind them. Hats off sir.

  • @zaidali5660
    @zaidali5660 2 роки тому +29

    Helped me get A* in A level and watching it again in master's. Best teacher for economics

    • @thesnackbandit
      @thesnackbandit Рік тому

      What did you do for your bachelor's?

    • @zaidali5660
      @zaidali5660 Рік тому

      @@thesnackbanditstudied Bachelor's of Accounting. Did not need to watch it for economics course in Bachelor's since everything was fresh in my mind.

    • @thesnackbandit
      @thesnackbandit Рік тому

      @@zaidali5660 👍

    • @Zainali-jk3ij
      @Zainali-jk3ij 10 місяців тому +1

      What would you recommed to do to get an a star in a level econ (apart from econplusdal). I'm sitting my exams this may :).

    • @JosephPremium-fz9ep
      @JosephPremium-fz9ep 6 місяців тому +1

      @@Zainali-jk3ijaired. Enjoy dat tomorrow

  • @hansikarautela9839
    @hansikarautela9839 11 місяців тому +2

    Thankyou so much. These videos are incredibly helpful. Love that you tell the trick to draw the diagrams efficienctly too. You are doing god's work. LITERALLY.

  • @top10ig0
    @top10ig0 2 роки тому +5

    I think that Sir explain this concept so much easier than my university Professor.
    They make it so much easier to understand to a beginner in Econ.

  • @nogs1656
    @nogs1656 5 років тому +54

    That one dislike.. f whoever did that

  • @alisharizwan6060
    @alisharizwan6060 11 місяців тому +1

    i have my economics exam in 2 days and this helped so much!!

  • @angelnoronha453
    @angelnoronha453 4 роки тому +10

    YOU ARE THE BEST ECONOMICS TEACHER EVER!!! LOVE YOU MAN 💞💞

  • @ayushkumar-wq5rl
    @ayushkumar-wq5rl 5 років тому +4

    So clear and easy to understand. Gave me a 100% clarity of thought!. Thanks....

  • @educationalaccount9838
    @educationalaccount9838 4 роки тому +2

    Best economics teacher in the world!!!!

  • @riasatazim514
    @riasatazim514 4 роки тому +1

    Best videos on the internet regarding the topics. Best of luck !

  • @kimiportero8675
    @kimiportero8675 4 роки тому +1

    The best economics teacher on youtube

  • @veikoshitaleni9619
    @veikoshitaleni9619 3 роки тому +1

    This Teacher is the best, i love watching his videos .

  • @yatharthmaheshwari2904
    @yatharthmaheshwari2904 3 роки тому

    you are honestly the best econ teacher ive ever come across

  • @kieranmcglade8446
    @kieranmcglade8446 3 роки тому +8

    The 16 people that disliked only watched this video, did no practice, and then got mad about their 4

  • @orneipshita883
    @orneipshita883 3 місяці тому

    U and Adil sir are literally the best eocnomics teacher and no other can surpass you both

  • @caspianmesbahi1665
    @caspianmesbahi1665 2 роки тому

    Best economics video I've seen to date! Appreciate it!

  • @simonbrewer4817
    @simonbrewer4817 5 років тому +3

    one of your best yet !

  • @bernardoseputro891
    @bernardoseputro891 3 роки тому

    this man, you are the best person to exist in our lives forever

  • @sammieremix4964
    @sammieremix4964 Рік тому +2

    I need you to come write my economics paper for me !!! You are too good !!! Enjoyed the lecture as usual ❤. Thanks

  • @Himawari-jk5rz
    @Himawari-jk5rz 3 роки тому +1

    You explained it in a very simple way thank you so much!!

  • @HandrianPeiter
    @HandrianPeiter 4 місяці тому +1

    This dude has supernormal profit for long run. Thanks

  • @taneishqmuhunthan6224
    @taneishqmuhunthan6224 5 років тому +1

    thank you so much! you have no idea how much this helped!!!

  • @vaishnavisurnam5719
    @vaishnavisurnam5719 5 років тому +2

    Thank you dal, You are wonderful💖

  • @richasingh9527
    @richasingh9527 3 роки тому +2

    This was such an amazing lecture. Thank you

  • @brucewillisvonhinten1417
    @brucewillisvonhinten1417 5 років тому +28

    Hi econplusdal, it would be highly appreciated if you can do exactly the same video on monopolistic competition, oligopoly and monopoly :)

    • @akrypto9
      @akrypto9 5 років тому +13

      He has already

  • @vaishnavidubey2611
    @vaishnavidubey2611 4 роки тому +1

    You are so clear on the topic
    Thank you sir👍🏻

  • @austinwachira5185
    @austinwachira5185 2 роки тому +1

    Nice one Dal! Thanks!

  • @alicepetrusinskaya5260
    @alicepetrusinskaya5260 3 роки тому

    THANK YOU SO MUCH!!! You are really the best!

  • @khadimarashid1937
    @khadimarashid1937 3 роки тому

    You are wonderful man.....thanks alot ...may God bless uh...

  • @mathildatingemar6725
    @mathildatingemar6725 2 роки тому

    EconplusDal, I love you.

  • @miazhang5866
    @miazhang5866 5 років тому +3

    Thanks a lot Dal, you saved my life lol

  • @UmarDoesEconomics
    @UmarDoesEconomics Рік тому

    eval for perfect competition : PC is a theoretical concept made up by economists and is seen nowhere it the real world , question wether this model is even applicable / should be spoken about due to no credit IRL , and is the total opposite of a monopoly . Hope this helped !

  • @plizzy6844
    @plizzy6844 3 роки тому

    It all makes sense now😩 thanks babes

  • @jafferraza1724
    @jafferraza1724 2 роки тому

    I have a 20 mark test tmw and I dont know this at all. Lets hope Econplusdahl can save me

  • @beckbock1420
    @beckbock1420 Рік тому +1

    god im such a nerd. Love this!

  • @arsenalfc9510
    @arsenalfc9510 3 роки тому

    What a stunning graph

  • @ngodenzel1887
    @ngodenzel1887 4 роки тому +1

    I understand the process.thanks a lot.

  • @alikaazzahra6678
    @alikaazzahra6678 2 роки тому

    you're the best teacher

  • @adamfn5171
    @adamfn5171 2 роки тому

    you're such a legend

  • @petermutakila994
    @petermutakila994 5 місяців тому

    You are the best I salute you 🙏

  • @wuzupholmes11
    @wuzupholmes11 3 роки тому

    greates of all time lets go!!!

  • @Icookiemonsterlover-s8u
    @Icookiemonsterlover-s8u 14 днів тому +1

    I’m too dumb for this

  • @joeljacob2234
    @joeljacob2234 4 роки тому +1

    That was wonderful!

  • @mfonessien2962
    @mfonessien2962 5 років тому +5

    why would it be such a bad idea to reduce price in a perfectly competitive market

    • @netayconnection6236
      @netayconnection6236 5 років тому +1

      They will make a loss because Average Cost is more than Average Revenue. This causes a economic loss in the short run.

    • @lerx5799
      @lerx5799 4 роки тому

      You make a loss and can't continue to supply at this price without shutting down.

    • @jeremydavids9853
      @jeremydavids9853 3 роки тому

      In the long run, firms in a perfectly competitive market make normal profit which is the minimum level of profit in order to survive in the long term. Decreasing price will simply mean the firm doesn't make normal profit and has to shut down.

  • @aravshah7449
    @aravshah7449 Рік тому +1

    I LOVE U MAN

  • @AlmightyIsOne
    @AlmightyIsOne 7 місяців тому

    For perfect competition: average revenue, AR=(PxQ)/Q=P=MR and profit=TR-TC= (AR-AC) x Q

  • @hellieb85
    @hellieb85 4 роки тому +1

    You're amazing!

  • @trinityhamied
    @trinityhamied Рік тому

    your content is amazing

  • @nab1632
    @nab1632 5 днів тому

    Literally wow

  • @mahfuzahmed971
    @mahfuzahmed971 3 роки тому

    this is the unhappiest ive ever been at school before.

  • @markb07
    @markb07 10 місяців тому

    Decent Video!!

  • @firmandjoyfullearning5954
    @firmandjoyfullearning5954 3 роки тому

    Good thank you. Here I have explained Economics concepts in Malayalam. All are welcome

  • @sbzulu7183
    @sbzulu7183 Рік тому

    Well explained ❤😊

  • @Disha358
    @Disha358 4 роки тому +1

    Sir ..there is question that how the perfect competition is measured profit and losses without using average cost curve?

  • @kodeekoder2772
    @kodeekoder2772 5 років тому +1

    i want a piece of that pi !!!

  • @unbeatablemindset000
    @unbeatablemindset000 6 годин тому

    You are great

  • @0Izabella
    @0Izabella 4 роки тому +2

    Yes, you are literally writing my essay for me :D

  • @kylejulius9596
    @kylejulius9596 2 роки тому

    He’s a master!

  • @EconomicInsightsUK
    @EconomicInsightsUK 2 роки тому

    my goat

  • @kindred.spirit
    @kindred.spirit 4 роки тому +1

    THANK YOU

  • @lyca42069
    @lyca42069 3 роки тому

    u are amazing tysm i love u

  • @carolescreperiethetropical6332
    @carolescreperiethetropical6332 4 роки тому +1

    Thank you very much, I truly appreciate your support :)

  • @janenelisafreitas6071
    @janenelisafreitas6071 8 місяців тому

    You are a guru

  • @petermutakila994
    @petermutakila994 5 місяців тому

    May you live long

  • @MahamYasir-l5v
    @MahamYasir-l5v 7 місяців тому

    Thank you sooo sooo muchhh

  • @alistairdickson9477
    @alistairdickson9477 3 роки тому +1

    Hi Mr Pegg!

  • @charlottedrnovsky
    @charlottedrnovsky 3 роки тому

    thank you so much !!!

  • @yahyahussain8266
    @yahyahussain8266 5 років тому

    The work rate is 🔥 7 hour Workshop at my school and then a video the next day 👏

  • @amelia7161
    @amelia7161 3 роки тому

    THANK YOU SO MUCH

  • @kashiawan2787
    @kashiawan2787 4 роки тому

    Reason behind the shape of cost curve in both markets( perfect and imperfect markets ya smja dain

  • @archiewoodhouse6509
    @archiewoodhouse6509 5 років тому +1

    life saver

  • @sophielee9380
    @sophielee9380 Рік тому

    thank you!!

  • @JattTayaraa
    @JattTayaraa 5 років тому +2

    Please give tips for alwvel p4

  • @ezaraoshogwe6259
    @ezaraoshogwe6259 Рік тому

    you are so helpful

  • @bihansaliyanage7545
    @bihansaliyanage7545 Рік тому

    Deiyek bro

  • @umarhc
    @umarhc 2 роки тому

    do we need to know about subnormal profits (AQA) I've not been taught it

  • @azj77
    @azj77 Рік тому

    without monopoly they can't be dynamically efficient so market cant progress because no money to reinvest, monopoly solves that

  • @ric6383
    @ric6383 Рік тому

    Many thanks.

  • @sumanchowdhury6162
    @sumanchowdhury6162 2 роки тому

    Q1,Q2,Q3,Q4 they all haven't different quality. Please explain, Q4 profit max position. But Q1,Q3 ?...

  • @humza20o12
    @humza20o12 5 років тому +4

    Would you recommend doing the 25 marker first in the AS exam?

    • @sabinaxox8269
      @sabinaxox8269 5 років тому +2

      Well it would be something I would do

    • @atcampbell123
      @atcampbell123 5 років тому +3

      Humza20O1 no because you’ll end up spending too much time on the 25 marker trying to make it perfect then missing time for quick multiple choice questions. If you’re running out of time on the 25, then just make sure you put in some eval even if you haven’t finished the analysis because it is level marked and you’ll get maximum of 6 marks with no eval.

  • @FlynnMegaTensei
    @FlynnMegaTensei 9 місяців тому

    Is this good for the IB course in 2024 for Economics?

  • @Jason-gb9dv
    @Jason-gb9dv 26 днів тому

    What does x efficient mean in the conclusion

  • @josephcrayston5012
    @josephcrayston5012 2 роки тому +1

    I love you

  • @guilhermecharrua3901
    @guilhermecharrua3901 5 років тому +2

    What does the c stand for in the diagrams?

    • @aynociz
      @aynociz 5 років тому +2

      costs... so mc= marginal costs , ac=average costs

    • @georgetracey926
      @georgetracey926 5 років тому +6

      ur fucked

    • @fr-it6iw
      @fr-it6iw 5 років тому +5

      man's gonna get a D in economics

    • @eliopalombi
      @eliopalombi 4 роки тому +1

      @@fr-it6iw I got predicted 7 in IB econ and I didn’t know what c stood for so stfu

  • @vishalbeeki5235
    @vishalbeeki5235 2 роки тому

    thank u genius

  • @fysonelton9384
    @fysonelton9384 2 роки тому

    well explained

  • @champo8541
    @champo8541 2 роки тому

    Is this the same wit business studies ?

  • @praisebotha5123
    @praisebotha5123 5 років тому

    THANKS VERY MUCH

  • @farazahmed3887
    @farazahmed3887 3 роки тому

    Hello, thank you for all the wonderful videos, in this video at 5:42 you refer to a diagram you had shown before, could you please point out which diagram / video is that, TIA.

  • @jason-os3jg
    @jason-os3jg 5 років тому +4

    econPLUGdal

  • @xhaphe3808
    @xhaphe3808 2 роки тому

    Danke

  • @PAHart-dg8bl
    @PAHart-dg8bl 5 років тому

    Does anyone know why price is equal to demand which is equal to marginal revenue and average revenue? I know that it has to do with the fact that it is perfectly elastic, but I'm not sure

    • @TheAwkwardTalker
      @TheAwkwardTalker 5 років тому +4

      1. Price = Average Revenue
      2. Because firms take the market equilibrium price and can't deviate from it, the AR = MR (seeing as the revenue from each extra unit sold will be the same as price)
      3. Price = MR
      4. Demand simply shows that at each price, how much quantity will be demanded.
      5. AR=MR=D

  • @liibaanismaail6618
    @liibaanismaail6618 3 роки тому +2

    dababy sussy amogus