Incredible, you managed to explain more clearly in less than an hour what my professor took two weeks to cover! (And written backwards to boot, legendary)
Question: In 38:15, capital is fixed but labor goes up. By definition, MPK has to go down when more laborers are looking to utilize capital. So why does he say that MPK goes up with the coming of more labor? Please help me!!!
When more labor comes: L/K increases and MPL decreases, when inverse is taken: K/L decreases and MPK does what? Increases. He explains this part at the beginning, around min. 10
Why would the MPK increase when introducing more labor to M? If there is more labor then K is less productive, then the MPK would become smaller. This is on min 37:55
Professor, Aneesh from Singapore here. i am meaning to ask for Part 3 of the lecture, what does "W" in the numerical example represent, and how is it different from the WLm?
you make much more sense than my econ professor
inguiez lmao
Thank you! You are a gifted teacher-I finally understand this!
Love the way you make it so clearly and easy-understanding.
Incredible, you managed to explain more clearly in less than an hour what my professor took two weeks to cover! (And written backwards to boot, legendary)
You are helping me survive my semester. Thank you so much
I understand that feeling now.
Thank god!! You explain things really well!! You say more than my professor of world economy
This was just more confusing and this was the best video UA-cam had, I’m cooked
Thank you for everything that you do for students! With love from Russian students trying to understand this topics in Geneva!!
Such excellent and well-made videos!!!!!
Thank you so much for making these videos!! Life saver
I have a test on this tomorrow and this video helped me soooo much god bless you sir
did you pass?
Thank you very much! Excellent work. I will appreciate it if you could another video talking about Standard Trade Model
Excellent video! Congratulations!
this video was excellent. thank you for the upload
good explained theoritically, but would be better if you explain with numerical examples, for example how to find Ew or Eq
Thanks alot. You make this topic so easy to understand. Thanks alot.
You're ambidextrous...that's coool🤩🤩
very well put together, very logical explanation, thanks!!
Thank you so much for such an easy-understood explanation!
Glory to you, My good doctor
Greatest of All Time
just amazing
Helped me substantially!!!
Love from Istanbul also
Little bit lengthy... but really useful and knowledge enhancing video👍🇮🇳
Thank you so so much! You're amazing at explaining this.
I can't believe we are both here LMFAO
Amazing explanation thankyouuu!
Superior stuff. Thank you,
God bless you
Excellent explanation!
I hope we can have you at UC Berkeley
Good explanation
In the last example at 45:30, shouldn't there be an increase in Q_M and L_M as well?
due to covid 19 and an increase in automation o How will the earning of labour and capital will be affected in the short (sf model) and long run(ho)?
I hope that we can have you in University of Waterloo
231???
@@michaelchen4680 yep
You save me thank you so much!
Question: In 38:15, capital is fixed but labor goes up. By definition, MPK has to go down when more laborers are looking to utilize capital. So why does he say that MPK goes up with the coming of more labor? Please help me!!!
When more labor comes:
L/K increases and MPL decreases, when inverse is taken:
K/L decreases and MPK does what? Increases.
He explains this part at the beginning, around min. 10
@@numannalbant7739 When more people occupy the same amount of capital, the MPK must fall. Just think about it
No because capital is fixed so when you introduce all these new labourers production would benefit massively from new capital, thus MPK increases.
MPL decreases since more people occupy same amount of capital@@mattjordan7817
for the first graph what woudl be the y and x intercepts? that would help me a bunch, thanks great video!
excellent video, but I ask myself how do you write mirror-inverted ?
invert the whole video afterwards
Lets say i want to apply the specific model to a country running a deficit such as USA. How do I use examples to fit in with this model?
In 38:31,i think MPK should decrease instead of increase!right?labor increases,MPK decreases
No, labor increases, MPK increases and r increases. But if labor increase MPL decreases
Thank you.🇧🇩
He said ''iPod''...We are getting older...
Thank you very much
🎉🎉🎉🎉
Good video. But why not using the derivative of the production function with respect to L for MPL? Those triangles are confusing to me.
thanks
Why would the MPK increase when introducing more labor to M? If there is more labor then K is less productive, then the MPK would become smaller. This is on min 37:55
Professor, Aneesh from Singapore here. i am meaning to ask for Part 3 of the lecture, what does "W" in the numerical example represent, and how is it different from the WLm?
At the minute 41:00, you say labor has moved from agriculture to manufacturing, whereas it seems its the contrary...could you please explain?
How the heck are you writing everything backwards??
9:40 and 38:20 When more and more people occupy the same amount of capital, the MPK must fall. I understand your logic, but it is wrong
Did someone else noticed that he is ambidextrous?