Short Run Cost Curves | Think Econ

In this video we explain the short run cost curves. This includes the average variable cost (AVC) , averaged fixed cost (AFC), average total cost (ATC), and marginal cost (MC) curves. Not only do we review how to read these curves on the graph, but we also show you how to use these per unit costs to calculate the total costs!

[@ThinkEcon]

If you found this video helpful, consider subscribing to the channel to see more education econ content just like it! :)

[@franb22]

I kinda got lost in the middle part of the video but i guess this can be used as a template of individual costs, no?

[@ThinkEcon]

Individual firm costs, absolutely!

[@franb22]

Awesome 😎

[@mm6461]

@@ThinkEcon is this a Canadian video, due to the use of Ootput eh?

[@ThinkEcon]

@@mm6461 Yep, Canadian here, born and raised.😅😂 Is it that obvious?!

[@mm6461]

@@ThinkEcon this is great content. Keep it up 👍

[@owenthomas3621]

Great video

[@hilwaamanamankiyar-pp5bf]

ONE

[@__Trident]

The video is english makes me in little bit trouble😅 but it helped me 😊
Thanks _❤🇮🇳_

[@ThinkEcon]

I am glad this was helpful!

[@voltagetv4908]

Everyone says "due to the laws of diminishing returns" when explaining marginal cost, nobody new that wants to learn from this video understands that, go in depth and explain what the law of diminishing returns are and an example.

[@ThinkEcon]

That's a great idea. Now the law of diminishing returns on it's own is a quick concept to cover, but I think I can make a video that will clear up any confusions or uncertainties people have about it. Once again, great idea. Mind if I shout out this comment when I make that video?

[@voltagetv4908]

@@ThinkEcon Yes absolutely I don't mind, maybe a video discussing commonly used phrases like that in economics as a whole with examples would be great.

[@nelisafreitas739]

You are brilliant and thank you

[@ThinkEcon]

@nelisafreitas739 I appreciate the kind words 😊

[@marina-ie5bo]

Well, it really helped me to understand this topic before my test 😅 Thank you for the video!

[@ThinkEcon]

I'm glad you found it helpful :)

[@nguyentuananhphan8644]

Thank you, sir, your videos help me review for my exam so well! God bless you!

[@ThinkEcon]

I’m glad you find the videos helpful! :)

[@ruwankuruppu5489]

Really a useful video

[@ThinkEcon]

I'm really glad to hear that :)

[@lottelarsen2736]

Can you make a video on long run cost production?

[@khadijahamid6905]

thanksssssssssss

[@ThinkEcon]

No problem!