thank you so much ...you did it for me econplusdal ... went through 50% of your sessions without going through the study manual and managed to get 86% in my finals.
You have definitely really helped me in my econ class. I have a hard time understanding if I can't see how everything works together step by step. You break everything down step by step so I can map out the big picture. Thank you so much for all of your work you put into your videos!!! You're a lifesaver!
many sites say that monopolistic competition is dynamically efficient and I got an answer wrong in the test. is it dynamically efficient in the short run due to supernormal and not dynamically, in the long run, to be more precise?
Thanks so much for this video . I have been watching your videos all the way from New York. But I have a question . it goes this way. why are firms in monopolistic competitions don’t operate efficiently and why would they still want to operate under such markets conditions?
I get the diagram illustrates in the long run that there is no allocative efficiency. However, in reality wouldn't consumers be at benefit due to the entrance of new firms in the market? Newly innovated products, lots of choice and variety etc. So how would consumers lose out like you mentioned @6:55
One question: In both perfect and monopolistic competition, are there low barriers to entry and exit or no barriers at all? As per my Edexcel textbook, it is pointed as 'no'.
It's IB economics. High school program part of the IB diploma. The content here is microeconomics. Because it's a global program, there is lots of content online.
@@amin8202 I'm not sure what you mean by that; apart from IB (which is locked to high schools that run the program), any university can give you the same basic level understanding in any introductory economics course (you just learn the basics of microeconomics, macroeconomics, and some international economics). You will likely learn all of it in one class in one semester; a proper economics course will go into more depth then this. You can also learn from a textbook; I don't know what's best, but if you really want to follow the IB curriculum you can get Economics for the IB Diploma (Second Edition), other then that my university recommends Essentials of Economics (one of the recent ones by Glenn Hubbard). Note this book is for one class for one semester, a full economics course will have many more books.
Only normal profits are earned due to low concentration ratio. Thus the firm's in perfect competition cannot increase their size (scale) and reap the benefits of eco. of. Scale
You sail effortlessly in the high seas of economics rescuing drowning students. Thank you. You are the best.
faxx
Such a beautiful metaphor. Nearly made me tear up
w
Npc
thank you so much ...you did it for me econplusdal ... went through 50% of your sessions without going through the study manual and managed to get 86% in my finals.
this is my tactic is well and it's working... I BASICALLY FEEL LIKE A GOD ATM
You have definitely really helped me in my econ class. I have a hard time understanding if I can't see how everything works together step by step. You break everything down step by step so I can map out the big picture. Thank you so much for all of your work you put into your videos!!! You're a lifesaver!
Daddy Dahl to the Rescue
The best economics teacher in the world.
You are my Economics teacher.
You make my econ a level so much more manageable,thank you sir!
he's a god, he's a man, he's a ghost, he's a guru.
Why ghost????😂
You're one microscopic cog
In his catastrophic plan
Designed and directed by
His red right hand
Nick Cave lyrics on an Economics video, gotta love that!
He's a G
He is definitely not a god.
One of the best explanation and very effective and to the point lesson.Thank you
Got a 92/100 in my econ A levels after reading the book and going through your material in 7 days. No joke. You are a blessing for so many of us
What did you do? How did you get that? Any tips for me to get a similar score like you did?
@@KalebB-px1ey stop glazing bruh 😭
@@Pod.Snipsz How is that glazing?
@@Pod.Snipsz ong he glazing 🤣
@@mw55786 ym are just saying that cos ur destined to flop it bruv
His such a blessing🙌. I have exams coming up, and his videos really help in better understanding and clear doubts.
this is amazing, keep up this education!!!
You’re actually a saviour
Thank you for saving my first year of uni. Cheers Dal.
Dal hard this Easter revision. Come on
Wow! I just love the way you present the concepts! Thank you so much!
You never disappoint me.You're the best ❤
my father i love you this is revolutionary
Thank you so much papa for saving my (our) econ final exam tomorrow. You are the best!!!!!
Very helpful. Thanks alot
many sites say that monopolistic competition is dynamically efficient and I got an answer wrong in the test. is it dynamically efficient in the short run due to supernormal and not dynamically, in the long run, to be more precise?
You are the best 👍💯
You're amazing!
YOU ARE THE BIGGEST GOAT, BEST MATE EVER!!!!!!!
Thanks alot sir.. Love from india
Thanks so much for this video . I have been watching your videos all the way from New York. But I have a question . it goes this way. why are firms in monopolistic competitions don’t operate efficiently and why would they still want to operate under such markets conditions?
best teacher !!!
OMG THIS IS SO HELPFUL FOR H2 ECONS
broooo my g styll
Thank you sir!!!!
u helped me ace my exam huhuu ure the best
Simply the best !!!
better than all the rest!
Is it possible to use contestability , hit and run entry as a drawback?
you are incredible
economics is really fun and interesting subject when econdaddy is teaching until you have an exam paper tomorrow..
Me rn
and me rn
me rn
and me
I LOVE THIS
My mind is blown
👏 many thanks
I'm going to appear in exam in few hours and I am here.........😂😂
Excellent sir
Absolute legend
Oh gosh does mc always cut ac at it lowest point in all the other market structure diagrams??
god i LOVE THIS MAN
GOOD LUCK MY ECON NIGGAS
Thanks
thank you
goat video bro
You fucking hero dal, we love you xx
love you daddy dal
Lifesaver
I get the diagram illustrates in the long run that there is no allocative efficiency. However, in reality wouldn't consumers be at benefit due to the entrance of new firms in the market? Newly innovated products, lots of choice and variety etc. So how would consumers lose out like you mentioned @6:55
my bad just watched the rest of the video looooool
One question: In both perfect and monopolistic competition, are there low barriers to entry and exit or no barriers at all? As per my Edexcel textbook, it is pointed as 'no'.
Perfect competition - no barriers to entry
Monopolistic competition - low barriers to entry
(this is according to my lecture notes)
Why is the MR curve half of AR curve?
0:57, for monopolistic competition, isn't there a usually case where there are *no* barriers to entry/exit?
It’s low as the products are differentiated by brands therefore could be brand loyalty, which is a barrier to entry
Legend
Dal you little starboy
Big up Feldo
George Brand woohoo 🤘🏽
@@na.a8646 HULLO!!!
Is insurance monopolistic??
Is this the same as monopolistic
I LOVE YOU!
DADDY DAL!
Vikkstar hooking us up with economics
ik dude he looks like viks big brother
Is there a book teaching these kinds of content and what's the scope and name and major of this topic?
It's IB economics. High school program part of the IB diploma. The content here is microeconomics.
Because it's a global program, there is lots of content online.
@@arc3271 thanks. Could you please suggest some schools with proper content on the whole topic
@@amin8202 I'm not sure what you mean by that; apart from IB (which is locked to high schools that run the program), any university can give you the same basic level understanding in any introductory economics course (you just learn the basics of microeconomics, macroeconomics, and some international economics). You will likely learn all of it in one class in one semester; a proper economics course will go into more depth then this.
You can also learn from a textbook; I don't know what's best, but if you really want to follow the IB curriculum you can get Economics for the IB Diploma (Second Edition), other then that my university recommends Essentials of Economics (one of the recent ones by Glenn Hubbard). Note this book is for one class for one semester, a full economics course will have many more books.
🐐🐐🐐
very attactive man
Genius
He says that in perfect competition there aren't many opportunities for economies of scale. Why?
Only normal profits are earned due to low concentration ratio. Thus the firm's in perfect competition cannot increase their size (scale) and reap the benefits of eco. of. Scale
I love u dal ur my Indian daddy
AQA exon Tom good luck everyone
The econ messiah.
Giga chad
i love you xoxo
couldn't you get dynamic efficiency in perfect competition if firms reinvest their supernormal profits made in the short run?
Is this the same as monopsony
No,
that’s when there’s only one buyer of goods in the market.
i love you
u didn't explain losses bro short term mai
true... but he mostly explained all of the concepts! :) he has an amazing set of videos to help us! 🥺
gang
Isn’t this just the same as perfect competition?
Definitely not
no way
I think its just a less extreme, more realistic version of Perfect competition
show that monopolist does not achieve pareto efficiency
you are perfect, but could you please just speak slower :D it is really fast
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lmaoo
8:35
God.
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phsss difficult vid
Reverend dal
second
first
Why does MC have to go through the minimum of AC? @econplusdal
I wanted to explain but looks like even I don't know but mainly the Situation should be always like this mc will always cut Ac at it's peak