Economies of Scale and Long-Run Costs- Micro Topic 3.3
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- Опубліковано 30 вер 2024
- In this video I explain the idea of what happens to output and costs in the long-run. I cover two similar but different ideas: increasing retruns to scale and economies of scale. The first one focuses on what happens to output and the second focuses on costs. I also cover t he idea of diseconomies of scale. And, of course, you get a bonus round. Let me know what you think and please subscribe.
Video about short run production-
• Diminishing Returns an...
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Watch Episodes of Econmovies-
• EconMovies
Check out the TV show How It's Made to see more economies of scale at work-
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I love the combination humor and good explanation :)
i wish my lectures were this awesome
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Tomorrow is my exam pls pray for me.. 🙂
Me also
Writing jamb tomorrow
Jamb student sup
It's to late but I hope you were succeful in that exam
In 4 hours 😂
Tomorrow morning🙏🏽
that moment when i already spend an hour to figure out the book and ended up took only less than 5 min to understand by watching this video
+Risya Ryandy Sorry for the wasted hour, but I'm glad that I could help you.
haha white folks are so nice!! i mean you can just apologize for something you didnt do!.. but anyway this video was a lot of help and brought new light,, thanx for being so lively.!!!! other than other lame vids
me too really the for this video
Risya Ryandy
Same here. Best explanation ever for a subject that my level of dominance is low: MICROECONOMICS.
Honestly i learn more in your 5 minute videos than i do in hours of lecture lol. You're getting me through College Econ right now man
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Exactly, lectures take long but we get nothing 😂
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Yes!! He makes it relatable! I created a discussion board in my micro class and shared his video, professors should reference his works more often!
this is your economics in college? lord i wish i was there, im learning this as a 16 year old lol
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+Alan Garcia Thanks Alan. I really appreciate it
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So let me get this straight: you're amazing at teaching AND you have great humor? This must be impossible.
"The Long run average costs fall as more output is produced"
I think that's a good enough answer for my exam. Thank You!
u are wrong..the long run average cost can increase as more outputs are produced..This is called Diseconomies of Scale..
i think he meant as a definition for economies of scale
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4 minutes video for 10 minutes before exm😅😁💔
As soon as my exams are around the corner.. It's time to hit ACDCleadership..✌🏼️✏️
+Divya Soni Same here... (y)
class 12th right???
Thank you for forcing my non-econ-major brain to finally understand this concept.
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Very True!! I thought the same.
I recently got in university as an accounting student, but we are obligated to take economics during the first year and it was hard for me since I didn’t have any basics and ideas about Economics. And I’m having a hard time understanding lectures.. but then my friend recommended your channel and I’m forever grateful to you sir! Thank you for making me learn in a fun way! Your short videos helped me A LOT compared to my 14 weeks of lectures❤️ seriously, thank you!
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Thanks Jacob Clifford for giving relatable examples
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Who else just couldn't help but subscribe.
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Hey Mr Clifford, You got really informative videos but is it possible to go slow? would really be appreciated because I am showing your videos to my students but unfortunately they are unable to catch most of the words because of economic language. Thanks
Just set it to 0.75x speed
I'd recommend Khan Academy if you prefer a slower pace
I’m so grateful for this guy! I actually understand things with him 😂
AP Videos could never. Thank you Mr. Clifford!
a very impressive way of teaching.. thank you so much, sir
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Would you be able to possibly make a video that gives tips on the AP Exam? Your content is solid, but one of my main concerns is being able to apply everything to the AP Exam, especially the multiple choice since I am very bad at the multiple choice of all AP tests.
+Geet Antani Yes, I'm on it!
I really benefit from these videos. They are really helping me prepare for my econ exams and semester tests
u r an absolute legend; suffering from adhd, I find your videos so helpful in providing me with humour mixed in with my education. I don't get distracted. I get to learn my favourite subject, and I subscribed. Win-win-win :)
I am studying for my CFA level 1 and the economics chapter is so boring and with so much information. I am so glad I found you :-) You are making me understand in minutes what I am finding so boring and difficult in 60 pages ha ha ha :-) eternally grateful!
hey, i know i'm relying 2 years later lol but i hope u can give me some info about the cfa exam. so i will start my cfa 1 course on 2 weeks from now, and i wanna know how complex are the subjects. obviously i saw the syllabus and everyting else, but there are things that i've never took in university while studying banking and finance such as bayes theorem , technical analysis and the patterns, ethics, and even economies of scale. also, i forgot 90% of what i studied in university. so would u say it will be difficult for me to start the cfa with let's say 0 knowledge in finance? so basically will they explain everything from scratch? p.s. our cfa course is from the kaplan material.
I am greatful to you sir.. your vdos are best source to my exam prep
I'm glad I could help. Thanks for watching.
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+Haset Aklilu You are welcome. Please share my videos with your friends:)
This is the 1st video I watched at ×.75 speed, mostly i watched all videos in ×2 speed
Soo amazing .something which I struggle to understand when reading my lecture note in hours,days and weeks it take me only five minutes to get all thanks soo much🙏🏼🙏🏼🙏🏼keep us busy by producing more videos😘😘😘
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ure so funny!!!!!(a compliment):)
.nice video
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You outshine a great number of professors,
Cheers!
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Great!! understood the concepts waaay better than i did in class. way to go man!!
Me trying to learn about economies of scale:
UA-cam: You should first watch this ad on this browser game
(PS Your explanation and delivery was amazing, keep it up!)
I am surprised of your videos' view counts. You definitely deserve more, and also I would like to have you as my economics lecturer in the uni ;)
I am taking engineering economics with no economics background... Sir, your videos makes it easier to not to fail this subject and ruin gpa.thanks a lot
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Thank you :)
+Sarah Holloway I'm glad that I was able to help. There is more to come.
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speak so fast! but these videos are very useful, thank you:)
+Tsz Ying Yeung I'm glad that you like it
I got 60 for last exam...next exam is next week. My friend told me to study with UA-cam and I think I can study with this amazing video not to fail. This is much more understandable than reading book... wish me luck on the next exam...
I remember hearing about economies of scale when I was in macro, but I never understood it until now. I really liked the examples used in this video. Very interesting.
+MajorasMaskMailman Thanks. The classic example is an electric company but that's kind of boring:)
Thank you! my micro economics teacher does a decent job of teaching the material but I can't seem to completely always remember it, and your videos are really useful to re-light that light bulb in my brain, and is much more efficient than notes. thanks so much !!!!!
I was just subscribing until you called me “man”. Guess I’m not the intended audience. :(
I apologize....lady :)
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The best economics teacher...good explanation, humor,and bonus rounds..The best teaching combinations
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Just out of curiosity, I love the piano music at the end of this video. Would you mind sharing what it is?
Thank you sooooooooo much for making these concepts approachable--you have save us so much precious time in wrangling economic ideas--so appreciated!!
when you realize Ned Stark is telling you to learn economics XDjajajaja
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A levels economics tomorrow! let's go!
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Let's go! It's now or never! OhhOhOh!
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Thank you for making these wonderful videos. You do a great job explaining the concepts that are so hard to understand just by reading the book.
Thank you Sir! You are an amazing teacher, these videos helped me a lot!
+MaryMac031 You are very welcome Mary
I can honestly say that without you, I would be totally lost in my Micro Econ class. So many of your videos have helped me better understand key concepts and ideas. I have a final exam wednesday that I am sure i'll pass now thanks to you.
+XxcHiLiPePpErSxX I'm glad I was able to help. Good luck on your exam and please subscribe and tell your friends;)
People will die and born but still your videos will write their name in the golden page of this era
Replay... replay... replay... replay... replay.
what? (I'm sure it's simple enough. I'm just experiencing severe burnout.)
I love how things just become so simple in his 3 minutes.
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Great video !!! Prepared me real good for tomorrow's exam
I’m taking AP Econ as a junior in high school and I am a strugglin
Joshua Arevalo My friend took it as a freshman..
God bless you, you make microeconomics so much more interesting. Thank you.
thank you a lot really helpful , not like my doctor haha
Thanks!! you helped me for my economics exam tomorrow.
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in this video i would have loved if you not only explained the economies of scale, but also economies of scope - since the two terms are so close.
+jevgenija tafteeva Thanks. I'll put that on the list
I love your teaching! Thank you so much for making these perfect lesson videos!
+Saori Usui You are too kind. DO you have any suggestions for the next topic?
I am not sure if you already explained other videos, but I have hard time to understand the concept of economic efficiency. I cannot understand 100% starting off the relationship allocative efficiency and PPB and efficiency and market failure.
Do you have the videos that explain these points?
+Saori Usui Yes, noted. I need to make another video explaining that. I did make an econmovies explaining efficiency and externalities. Check it out: ua-cam.com/video/FBjFDtH-iZM/v-deo.html
Hmmm... I don't feel like this explanation of the shape of LRAC curve matches the mathematical description of the lower envelope of all possible SRAC curves. Thoughts?
Explained one chapter in four minutes. Thank u!
Understood the concept instantly! Great explanation! Good job👍
Thank you so much!!!! You are the only youtuber who helps me to learn economics in a easier way!
+Lily Shamanova Awww. Thanks
Why cant lecturers Lecture like this🤦🏽♂️
Thank you so much Jacob, this is literally the ONLY channel I use for my microecon studies. This is THE BEST channel, it is quick, clear, descriptive.... I will recommend this to everyone I know :) Thanks a lot
+Heidi Wang Heidi, thank you. I'm glad I could help.
Thank you for saving my econ final!
+805kmfromyou You are welcome. Let me know if you need anything else.
This explains why some inexperienced retail companies fail when they grow too much...!!!
They use economies of scale. They reach to constant returns to scale. They keep pushing until they reach to diseconomies of scale. They fail...!!!
thank you my new econ teacher..
Hi Jacob there's a link you were talking about that was talking about assumptions of agricultural marketing.
An example being
1. Resources are scarce.
2. Maximum profit is maximized when marginal revenue is greater than marginal cost. Kindly share the link to revisit. Thank you.
Before starting the video i watched through the whole add. i do not have credit cards so that i can pay for your packet or support on paetrion. This is my way of supporting the fantastic and hard work that u put out for free to help us.
Thanks.
sir I am watching this video one day before my microeconomics exam.....sir thank you so much for this🥲🥲🥲🥲🥲
Mr Jacob Clifford you should keep on doing more videos,you are best at explaining.#if you want to understand economics,learn from Clifford.
Hi,
Am confused between Decreasing cost industries vs Economies of Scale (EOS).
Do EOS take place due to decreasing cost inputs in such industries?
Moreover, do increasing cost industries not experience EOS?
Is the Long Run Average Cost curve different for increasing and decreasing cost industries?
Boy, you did made me subscribe!!
Can you explain the relationship between the LRAC curves and SRATC curves? How about when they are both on the same graph?
Couldn't understand anything in the book... everything explained in this video in a few mins! miracle!