I- you explained it so perfectly. I used to be so confused about how to identify if it was CRS. IRS, or DRS. This makes so much sense, oh my gosh thank you!!
Thank you very much for this presentation. I am now king and no more fear at all. As of now I am learning microeconomics in Portuguese and I find this explanation so very super. Your voice is clear and made a Portuguese speaking person like me understand once and for good.
Thank you so much Clemente Ciro Justino your comment made me very happy! I'm hoping to make more videos soon and I am so appreciative of my subscribers like you who have supported me along the way :) :)
Hello! I don't think so! I do need to do another video on Cobb Douglas and Returns to Scale because there are very specific things going on there. Can you give an example of the functions you are wanting to go through?
hello, thank you very much, your videos have been so helpful. i know this isnt related but i am very very confused about internal economies, diseconomies of scale. Am i wrong that internal economies and diseconomies of scale are two distinct chunks of the lrac? This is my understanding from what i have read. The examples of internal DEOS given in my texts: low morale, poor coordination etc all seem to my uneducated self to not be solely the plight of larger firms so could internal DEOS set in as the firm is reaping internal EOS or would they only occur after the firm has reaped all the internal EOS there is?
Hi! I wish I could help you here, but I have no idea. I was never taught anything like this and have never read anything about internal versus external DEOS. I would comment on my thoughts but I'm worried I will get it wrong; I would definitely ask your lecturer or tutor though. Good Luck, sorry I couldn't be of more help!
Hi @Amengeta_Getachew, thanks for the comment! I don't have that video but will put it on my list of videos to-do :) :) If I manage to do it soon, I will share the link with you :)
Hi! We add exponents when multiplying. Old video, but still might help: Introduction to Exponents ua-cam.com/video/8S5Ig6scF0A/v-deo.html. Does that help?
Hi LT, I'm unsure why there would be any more than just one... the operation is to square the 3 (3^2) just like we square the L that it multiplies. If you need help with exponents and brackets, I go through some rules here it might help ua-cam.com/video/8S5Ig6scF0A/v-deo.html
@@XAUGEEK you mean when I factored out from the bracket? That's legitimate, to see this you can go backwards 3^2(5K^2 + L^2) = 3^2*5K^2 + 3^2*L^2. See www.mathsteacher.com.au/year10/ch10_factorisation/02_common_factor/common.htm
@@XAUGEEK maybe it helps like this. ab + ac = a(b+c). If you understand that, think about the example and just replace a = 3^2, b = 5K^2 and c = L^2. It's probably a good idea to clear this up with your teacher if you are still having trouble.
Why isn't the second production function a Cobb-Douglas function? It has A = 5, and a and b. At the same time, I don't see any A in the fourth production function, yet that is classified as a Cobb-Douglas function. Anyone else wonder about this? Thanks for a great video though!
Good questions! The second instance is not a Cobb Douglas production function because the two terms are added together (not multiplied). In the fourth example, we can think of it that A is = 1. I should have pointed that out, thanks for letting me clarify :) Let me know if you need any more explanation :)
I- you explained it so perfectly. I used to be so confused about how to identify if it was CRS. IRS, or DRS. This makes so much sense, oh my gosh thank you!!
Thanks God!! 😂 good luck with your studies📚
Thank you very much for this presentation. I am now king and no more fear at all. As of now I am learning microeconomics in Portuguese and I find this explanation so very super. Your voice is clear and made a Portuguese speaking person like me understand once and for good.
Thank you so much Clemente Ciro Justino your comment made me very happy! I'm hoping to make more videos soon and I am so appreciative of my subscribers like you who have supported me along the way :) :)
you are king
Thanks for this! I'm doing MIT's Microeconomics OpenCourseWare and needed to grasp this concept; you explained it eloquently.
Yay, good on you for taking the course! I'm so glad the video helped, stay safe my friend!
@@econhelp_officialThank you!
So straight forward thank you
Perfectly explained, thank you! :)
Glad it was helpful! Good luck with your study!!
I couldn't have asked for more. You're the best.
That's so nice! Thanks! Good luck with your study!
Amazing mam you clear the concept with in 9 minute. Love you ❤and love from India 🇮🇳
Love back from Australia!! ❤️❤️❤️
God bless you. Finally i understand it now
I'm so glad! Keep up the good work! :)
You are the best economics teacher
Aw you're so nice!!! Thanks for the comment, good luck with your studies 👍❤️
i understand it so well now, thank you so much for this!!
Glad it helped! Thankyou so much for the comment good luck with your studies :)
This was so helpful. Thank you!!!
you explained this so well, is there a video of you doing harder mathematical questions, for example one where K and L have different powers?
Hello! I don't think so! I do need to do another video on Cobb Douglas and Returns to Scale because there are very specific things going on there. Can you give an example of the functions you are wanting to go through?
Wow...... Am back on track now.. Thanx to you
I'm so glad! Thanks so much for the nice comment!
The really good explanation I really appreciate that thank you so much you help me a lot
You're very welcome! Good Luck with your study!!
Thank you so much, you explained it perfectly 😍😍
Aw so nice thanks! You're welcome, good luck with your course! 😊
Thank you so much!
you are the best.. thank you so much!!!
No you are! :) Thanks for the comment!
Thank you so very much
Thanks for the comment you are very welcome!
Thankyou...You explained it soo well:)
Glad it was helpful! Thanks for the comment!:)
Assalomu alaykum. Thank you for your help! 🤗🤗🤗
So happy to hear the video helped, I hope your studies went well! :) thanks for the comment!
hello, thank you very much, your videos have been so helpful.
i know this isnt related but i am very very confused about internal economies, diseconomies of scale.
Am i wrong that internal economies and diseconomies of scale are two distinct chunks of the lrac? This is my understanding from what i have read.
The examples of internal DEOS given in my texts: low morale, poor coordination etc all seem to my uneducated self to not be solely the plight of larger firms so could internal DEOS set in as the firm is reaping internal EOS or would they only occur after the firm has reaped all the internal EOS there is?
Hi! I wish I could help you here, but I have no idea. I was never taught anything like this and have never read anything about internal versus external DEOS. I would comment on my thoughts but I'm worried I will get it wrong; I would definitely ask your lecturer or tutor though. Good Luck, sorry I couldn't be of more help!
yes it did help, God bless you... do u happen to have a video on return to factor??
Hi @Amengeta_Getachew, thanks for the comment! I don't have that video but will put it on my list of videos to-do :) :) If I manage to do it soon, I will share the link with you :)
you're so good 👍
Thank you! 😃 That's so sweet! Thank you so much!
At 5:06 putting the ''2L'' between brackets is redundant, right?
Yes
Great video
Thanks so much! 🥰
For linear regression, what if your elasticity coefficient is negative, how do u measure returns to scale? Do u ignore the negative sign?
Hi Mufasa, I'm unsure! Here is a good discussion that might (I hope) help: www.ssc.wisc.edu/~gwallace/PA_818/Resources/Returns%20to%20Scale.pdf
thanks
I’m sorry but at 7:28 if t^1/2 is multiplied by t^1/2 would you not get t^1/4?
Hi! We add exponents when multiplying. Old video, but still might help: Introduction to Exponents
ua-cam.com/video/8S5Ig6scF0A/v-deo.html. Does that help?
@@econhelp_official Very much, thank you
thank you!!!!!!!!!!!!!!
You're welcome! ❤️❤️
Thank you🙂
You're welcome 😊
For the second example why did u only put one 3^2?
Hi LT, I'm unsure why there would be any more than just one... the operation is to square the 3 (3^2) just like we square the L that it multiplies. If you need help with exponents and brackets, I go through some rules here it might help ua-cam.com/video/8S5Ig6scF0A/v-deo.html
@@econhelp_official but in the video u had 2 of them
@@XAUGEEK you mean when I factored out from the bracket? That's legitimate, to see this you can go backwards 3^2(5K^2 + L^2) = 3^2*5K^2 + 3^2*L^2. See www.mathsteacher.com.au/year10/ch10_factorisation/02_common_factor/common.htm
@@econhelp_officialI'm still having a hard time grasping that... I understood all the other examples except that one
@@XAUGEEK maybe it helps like this. ab + ac = a(b+c). If you understand that, think about the example and just replace a = 3^2, b = 5K^2 and c = L^2. It's probably a good idea to clear this up with your teacher if you are still having trouble.
Perfect
Thanks for the lovely comment!! ❤️❤️
Why isn't the second production function a Cobb-Douglas function? It has A = 5, and a and b. At the same time, I don't see any A in the fourth production function, yet that is classified as a Cobb-Douglas function. Anyone else wonder about this? Thanks for a great video though!
Good questions! The second instance is not a Cobb Douglas production function because the two terms are added together (not multiplied). In the fourth example, we can think of it that A is = 1. I should have pointed that out, thanks for letting me clarify :) Let me know if you need any more explanation :)
Fized proportions RTS?
will be CRT www.economics.utoronto.ca/osborne/2x3/tutorial/RTSEX.HTM does that help?
your voice is so calming 💖
Haha my mum says this too :) Hope it helped, good luck with your study :)
Thank you very much!
Welcome! Thanks for the comment!