If you found this video helpful, consider liking the video, sharing it with your friends, and subscribing to the channel for more educational economics content!
Really glad to hear it! As an economics instructor myself, I know that some of the concepts can be particularly difficult for students to learn, which is what inspired me to start this channel in the first place. It’s really encouraging to hear how helpful the content is! :)
I love your videos, but there is an issue with this one. The MC curve is not a straight line, because it is actually in the shape of a parabola. So, the (base x height)/2 formula would not yield the correct answer because all of the legs of the triangle must be linear. You would need to use calculus to find the intergal under the MC curve between 3 and 4.5, and then subtract that from the value of the area under the demand curve from 3 to 4.5. The only way to do that would be to have an actual function for the MC curve.
This is absolutely correct. In higher level economics we would use calculus to solve though often times in intro courses we like to make the assumption that one section of the MC curve is linear for easier calculations on the students. Great observation!
If you found this video helpful, consider liking the video, sharing it with your friends, and subscribing to the channel for more educational economics content!
Love your videos keep doing what your doing it really helps me out since my teacher isn’t that good
I only saw few of your videos so far cause I just recently found out about your channel but those videos were really effective.
Really glad to hear it! As an economics instructor myself, I know that some of the concepts can be particularly difficult for students to learn, which is what inspired me to start this channel in the first place.
It’s really encouraging to hear how helpful the content is! :)
I love your videos, but there is an issue with this one. The MC curve is not a straight line, because it is actually in the shape of a parabola. So, the (base x height)/2 formula would not yield the correct answer because all of the legs of the triangle must be linear. You would need to use calculus to find the intergal under the MC curve between 3 and 4.5, and then subtract that from the value of the area under the demand curve from 3 to 4.5. The only way to do that would be to have an actual function for the MC curve.
This is absolutely correct. In higher level economics we would use calculus to solve though often times in intro courses we like to make the assumption that one section of the MC curve is linear for easier calculations on the students. Great observation!
U've been a huge help
I'm glad to hear it!
Such a great vid.
Thanks!