Long-run Average Total Cost and Economies of Scale
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- Опубліковано 5 вер 2024
- This lesson distinguishes between a firm's short-run average total cost and its long-run average total cost, and explains how economies of scale may help a firm achieve lower average costs as it increases its output in the long-run.
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.c...
Jason Walker you're the man, going to make me pass my Econ exam worth 30%, thank you for doing what my econ teacher could never do... teach me
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this topic was perfectly clarified for me
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Wow..I had a lot of difficulty understanding Long-run ATC before watching your video. But now, it is super clear for me. Thank you!
Great work, you know when someone has expertise in its field.
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Thank you so much! This cleared all my doubts on LATC
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A great teacher. i was struggling
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jason, i do appreciate most of your videos but i need to clarify something, base on the above video, economies of scale/diseconomies follows increasing returns to scale/decreasing returns to scale?as i've known, the former measures cost and output and the later relates inputs to output.
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theory in detail through a video.
Thanks you jason
veryyy helpfull indeed! i dont even feel the need to go to classes anymore! LOL
Great.
The video is pretty good,but in my book (Pindyick & Rubinfield) they explained that:
Inreasing returns to scale-output more than doubles when the quantities of all inputs are doubled
Economies of Scale-a doubling of output requires less than a doubling of cost
It's not the same
thank you very much!
God bless you professor,you are great .
Jason tell me what is actually the average cost? theoretically
It is, actually, the per unit cost of production.
10/10
why the average cost goes on decreasing when the average product goes on increasing?
Helpful but you're quite fast..
what is the song at the start
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My econ teacher is shit, this one is the shit.