How to calculate Average Product, Total Product, Marginal Product
Вставка
- Опубліковано 2 жов 2024
- Visual tutorial on production theory. This video uses numbers to explain total product, average production, and marginal product. These are typical topics discussed in economics and especially microeconomics classes.
Like us on: / partymorestudyless
PlayList on Production Theory :
• Production Theory
Related Videos
International Trade
Edgeworth Box Diagram
• An Introduction to the...
i wish you were my professor!
Well thanks! Good luck in your classes too.
my professor just come to class and talks about his gym and other stuff and uses example for that particular chapter and when we want to do the hw, we have to refer to youtube and of course your videos:)
Ghar le jao isko apnay
@@baghdik18 same goes here too😥😥😪😪
This was extremely helpful.
Thank you.
damn son 8 million subs
bruh wtf
83L subs?Dude wut? WOW! Idk if I should say it's good to see you here?
has anyone notice for the marginal product in doing my calculation instead of 18 i get 14 and instead of 8 i arrived at 6 unit....when u cal 336-322/8-7=14 and not 18 and even when u cal it the long way i would still get 14 units. (336-322)/8/(8-7)=14, likewise (342-336)/(9-8)=6 and not 8 unit..so please help me out here someone..
Yea
candesia theobald yes
yes, you right.
sir thanks so much, but how have you come up with 18 when we compute (336-60/8-1) = (14/1)= 14. then how have come up with 18 and 8. kindly assist me on that answer
yeah I dont get it either. I also calculated 14 and 6. it's funny because he probably did it with EXCEL and the program wouldn't make that mistake.
I have ec. exams tmr and i dont know shit😂
Saved me for my Microecoomics exam due tomorrow at UCONN, still helpful in 2020! Thanks man! Hope you are doing well!
U r from u s a ?
@@anniehemings3796 yes, sadly I am 😂😂
Hold on, so the UCONN econ professor does not teach great? I’m planning to go to UCONN
@@leemari7695 this was during Covid so times were much harder than now. Especially with all classes being online it sucked so much! But now I’m sure with being in person you can get more help. Plus there are tons of different economics professors lol you most likely won’t have the same one I had. I can’t even remember his name to be completely honest
@@mrgrob6579 Thank you and thank you for responding so quickly
Have you graduated from UCONN already?
That is great to hear and good luck on your exams.
You saved me from failing my Econ exam tomorrow thank you so much sir
Dis u pass
With total product, are those figures usually given? I was recently given an exercise where we were only given the amount of labor and the columns for total product, average product, and marginal product were blank. How would you suggest completing such an exercise where the only thing given is the amount of labor? Thanks!
was there a graph givin in that exercise?
I was also given a table without total product of labor given in some spots, without a graph.
Great to hear and good luck in your classes too. Make sure you like MyBookSucks on FaceBook (see link in video description). This will help others find the educational videos.
Marginal product (MP) and average product (AP) will be equal only if total product is not changing. Typical MP and AP do not equal each other.
Exactly right At the point of tangency...good stuff 🔥
That is great to hear and thank you for the feedback.
Make sure you like MyBookSucks on FaceBook (see link in video description). This will help others find the educational videos.
Thankyou so mach sir this was extremely helfull
Diminishing marginal returns sets in when slope of the marginal product line equals zero and after that marginal product is negative. I would encourage you to watch the entire playlist (there are only three videos). You should even try to watch the calculus proof.
I included a link to the playlist in the video description.
Thank you so much, its kind of hard trying to understand this without having an instructor, dang online courses. Helped me figure out my homework for the week easily.
sir, but how have he come up with 18 on marginal product of labor, when we compute (336-60/8-1) = (14/1) = 14. then how have come up with 18 and 8. kindly assist me on that answer?
Thanks a lot for this video. It helps me a lot on my lessons especially how to compute for marginal product. But i think there is something wrong in the computation of marginal product of labor 8 and 9?
yep, it should be 14 and 6
yeah, thanks. :)
yes i was confused at the same part too , gladly you ask
thankyou to u too
thank u for the video i just passed my economy exam no need for reenrolling
i'm convinced i could have watched an afternoon of these videos rather than spent two weeks of sleepless nights for my upcoming exam. ;) thanks!
Thanks for. I will correct that when I revise the video.
How do we calculate total capital if it's not given when there are two fixed factors of production given in units ( units of Land and units of capital)
336-322= 14, 8-7= 1 divide it get 14. why is it become 18?? and 342-336=6, 9-8=1 divide get 6. why is it 8?? any help?? or is it a mistake there??? thnks....
Can i ask something? Why that the last of product of labor become negative -2 i was trying to solve then my answer is just 2 not negative, can you answer my question
Alright yall imma be real I dont want watch all this shit and Imma about go get some grub grub with my friends. Can someone give me a 2 paragraph description about what happened in the video that would be great.
You are very welcome and luck on your exam -- you can do it!
Make sure you like MyBookSucks on FaceBook (see link in video description). This will help others find the educational videos.
in marginal product, 8, 9 and 10 amount of labor I get 14, 4 and 2 respectively by using this formula. How do you get 18, 8 and -2 ? It's biased me >.< . Please help me out. Thanks
I got marginal product of 14, 6 and -2 on labor 8,9,10.
So total product will be given in the question right...there is no formula to calcuate total product?
You are very welcome. Make sure you like MyBookSucks on FaceBook (see link in video description). This will help others find the educational videos.
You are very welcome indeed. Make sure you like MyBookSucks on Facebook and subscribe. I am always posted new material.
Great to hear. I was going to name my business myprofessorsucks, but went with MyBookSucks instead.
Make sure you like MyBookSucks on FaceBook (see link in video description). This will help others find the educational videos. You can help ease their pain.
Thanks prof 👨🏫
The only one I have on international trade is the edgeworth box diagram. I am in the process of creating more videos for international trade. I just added a link in the video description of this video.
You are very welcome! Make sure you like MyBookSucks on FaceBook (you can see the link in the video description). This will help me spread the word about the educational videos.
Smiles all the way! I'm not scared of the test and exam anymore. Thanks a lot
sarlote uushona Good luck on your exam. You can do it!!!
what if total product is not given?
Appreciate that! Make sure you like MyBookSucks on FaceBook, see link in video description. This will help others find the educational videos.
You are very welcome!
Make sure you like MyBookSucks on FaceBook (see video description for link). This will help other students taking online courses find the educational videos.
''i will use some nuuumbers'' loved when he said this
Thanks A lot very good video. The quality it is very high
18 on marginal product shud be replaced with 14
Come teach at montreal canada please. You, hands down , are wayyy better than my current microeconomics professor. His explanations are vague and so difficult to understand. If i didnt have to have 12 units per term i really wouldn't take microeconomics.
How can I calculation the total products
What does it mean in marginal product reaching 10??
Sir how to calculate total product average product of labour is given
Thank you for everything you are being so helpful BUT dude come on you take it realy simple no professor ever ask kind of problems you do in your long videos. You are just calculating simple numbers.
i think if TP = 0, AP and MP unknown
MP = 0
AP = unknown
Come back plz to see how you were doing
Typically in this exercises total product is given. You can calculate total product by multiplying average product time output (quantity produced).
Marginal product of labor= Total product divide by amount of labor
57-0/1-0=57/1=57
Nice man! Got exams by morning.
I'm here cuz I didn't listen to my prof during discussion and now she have an activity about this 😂
i study the intermediate microeconomic and its application for Nickolson and Snyder the problems and quizzes are soo hard can u do it please professor
It's good to see people came here when they had normal classes while I came here when I have online classes. Anyways, Thanks sir!
What happens if total product is not given?
I have a question about how to find marginal productivity of constant variable
Thank you sir now understand this hope you will be my professional tech
How did you get the figures of the total product.
Helpful video, thank you.
What is the amount of capital is different
When you say slope of a curve for a particular value of labour is the marginal product, are you not confusing the nature of the data you work with, i.e discrete (which is the data used for production, and hence the need for average rate of change between successive units of labour) rather than continuous (instantaneous change)?
Many many thanks from the depths of my heart.
That was very helpful! I thank you!
can you put marginal product and average product on the same graph? Or did you just do them separately to distinguish them??
Yes i can put TP,MP and AP together in a graph.. mail me at shubhiarora40@gmail.com and i will click a photo and attach it for you if u wanted :)
Thank you so much. Now I finally understand how to do it 😊😊😊
How would I Indicate the points that delineate the stages of production
Thank you, that was so helpful! I finally understood the basics
Hello sir, I have a question... is it short run or in the long run?
I just wanted to say thanks, you could not make it any easier. I saw other vids for this topic and I could not get them. I did with yours. Its not easy going back to school when your older but u helped my brain to get it. Thanks again.
thank you sir, which software were you using for the presentations
So there's nothing to do in amount of capital ?
thanks a lot
now i can understand the concept more clearly. Thank you for the great video. and my Microecons exam is tomorrow!!
thank you for your assistance
thanks for yr video, it really helpful
Thank you so much 🎶
thank so much its too helpful and reliable
what if the total product is not given ?
Thanks so much man this helped a lot!!
Thank you so much
YOU ARE AWSOME! Thanks pal!
It's simple and easy to understand.
thank u very muchhhhhhhh
My exam is knocking my door. This video is a great help for me. Thank you very much :)
thank you so much....it helped me!
Very clear and concise, thank you
This was so easy to follow along and understand
It's an amazing video .......thank u
Salamat kol hahahaha
thank you so much!!
seriously you are the boss of ecomics :D
This helps 🙏🏾💌💌
Where did you find the numbers 52, 34 and 16?
+Kristi Manushi Bump
where does the output of diminishing returns set in?
I wish to teach me
thank you now i can pass my exam
Awesome! Do you have more trade videos?
God bless you
I love you 😍
Thanks alot,very clear
thx.... having exam later T.T
Your explanations are easy to follow and a great help to me.
Laurie Higman Thanks Laurie! good luck in your classes as well. Make sure you like our Facebook pages www.FaceBook.Com/PartyMoreStudyLess this will help others find the videos.
thank you so much for this.. :)