I'm very grateful for all of your lectures! I've just started my Principles of Microeconomics course and this is gonna be such a great preparation for me when I attend classes
Thank you so much for your wonderful lectures, in from Hong Kong at a university here but your lectures are my go to to understand the whole concept. 👏🏽🤩
- Selera, anggap saja hal ini berkaitan dengan apa yang di sukai atau tidak sukai dapat dipengaruhi oleh iklan, teman, atau hasil yang mengatakan bahwa memakan hot dog sebelum mereka ujian akan membuat mereka mendapat nilai yg baik - Ekspektasi terhadap masa depan, misalkan ada suatu produk yang anda harapkan untuk mengalami kenaikan yang lebih tinggi dimasa depan - Populasi, bisa kita katakan jumlah pembeli dipasar Faktor penentu diatas akan menggeser kurva permintaan ke kiri atau ke kanan yang akan menggeser kurva permintaan pasar
Thank you for this amazing lecture. I have a question, at 51:00, in this example decreasing in hotdog's bun could shift the supply curve to the right too. because as you mentioned earlier in this chapter changes in prices of substitutes can shift both supply and demand curve. am I right? thank you in advance.
Not in this case. Changes in the price of a substitute in consumption will shift the demand curve only. You may be thinking about substitutes in production, but that is different. A substitute in production is an alternative product that a producer can produce. For example, consider a business that makes ice cream cones and hot chocolate. Those are substitutes in production, and the firm can switch between them depending on the profitability of each. In our case we are talking about substitutes (and complements) in consumption. You might also have been thinking about changes in input prices. Consider a firm that makes hotdogs (not the buns, just the meat). Buns are not an input into the production of the meat, so a change in the price of buns will not have any impact on the supply curve for the meat. I hope that answers your question. Dr. Azevedo
@@DrAzevedoEcon thank you sir for all the efforts you did making these videos. Sir please continue this series again i can't find quality content like this anywhere.. sir please complete welfare economics and factor pricing too. Thank you sir Mohd Sadiq
Thank you so much for precious explanation. I am wondering that which determinant causes supply and demand curve to shift at the same time? Can We say prices of supplementary/complementary/related goods shifts those two curves simultaneously? For example, in hotdogs market, increasing prices in hotdog buns can shift supply and demand at the same time? Because in that case suppliers want to put more inputs in hotdogs buns(related goods) and buyers want to buy more of hotdogs (complementary). In that situation, supply for hotdogs will shift to left as opposed to demand for hotdogs will shift to right . Am I right?
Yes, you could have something like you have described that shifts both the demand and supply curves. In your example, the firm would have to be producing both hotdogs and hotdog buns. However, you need to change your example to have demand decrease. If hotdog buns get more expensive people will buy fewer buns (decrease in quantity demanded), which will cause a decrease in demand for hotdogs. I tend to stay away from things that shift both curves when I am teaching. I like to focus on one thing at a time. Another example of something that can shift both curves would be expectations about future price.
No...a leftward shift in the supply curve is a decrease in supply and a rightward shift is an increase. Here's the part of the video where I talk about it: th-cam.com/video/JcN4dBoerwc/w-d-xo.htmlsi=zv86JVd8jnjTdAsL&t=2718
My understanding is that a change in price for hotdogs will increase demand along the curve and there will be a shortage of supply, and there will be incentives for the seller to drive up the price as there is a high demand until the new equilibrium is met. The price of a good does not cause a shift but rather a movement along the curve. Is my understanding incorrect? please help!
If we think about the basic demand/supply model, the price is determined by the intersection of the demand and supply curves. This is the only place where the quantity demanded and quantity supplied are the same....so there is no incentive for anyone to change the price. We can suppose that price is lower than the equilibrium, and then think about what will cause it to rise back to equilibrium. If price is lower than the equilibrium price, then quantity demand will be bigger than quantity supplied. In other words, there will be a shortage of the good. In that case, sellers will have an incentive to increase price. This incentive will not go away until price has been increased to the equilibrium. Sellers will stop increasing price at that point because they are selling the quantity they want to sell. You are correct, that neither curve will shift in this process.
wouldn't the increase in the price of hotdog buns be a supply shifter as its an increase in input prices and would decrease the supply for a while (leftward shift). please explain this sir.
I'm not sure I'm understanding your question. If not, feel free to ask again. If you are talking about a restaurant that purchases buns as an input and then puts a hotdog in the bun, then yes, an increase in the price of buns would be an input price for that good (hotdog in a bun). However, if you're talking about the supply curve for the sellers who are selling only the hotdogs themselves (packages of hotdogs), then no, the price of buns would not shift the supply curve. The price of buns would be a demand shifter because the hotdog and bun are complement for consumers.
![เปิดบ้าน โคตรสวย ป๋องกพล รู้จักตั้งนาน เพิ่งรู้ว่ารวย!!! l [Nickynachat]](http://i.ytimg.com/vi/tmgCF_2HfYI/mqdefault.jpg)
They way you teach you deserve views and likes in millions !!!!
My gosh, this is gold! Thank you for sharing your expertise. I am smiling while learning! Unbelievable.
Thank you so much, the lecture was great and learnt more than my own class
Glad to help!
@@DrAzevedoEcon would you recommend me any website for practising my exam
Thank you so much professor, thanks to your videos I passed my exam. Hello from Seoul
I'm very grateful for all of your lectures! I've just started my Principles of Microeconomics course and this is gonna be such a great preparation for me when I attend classes
sir the way you teach is truly amazing
learning a lot from your videos.....
thank you very much for providing these for free of cost
it was the most amazing lecture that I've ever watched, I enjoyed thank you Sir
Glad you liked it!
Me watching this ar 1.5 speed and understanding and not able to understand my uni professsor at 1* speed
Lol sameee
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thanks for your effort of taking your time and making such detailed and easy to understand lectures....
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Keep it up!
This teacher teaches better than my IIM professor !
Thank you sir, I enjoyed so much the lecture !
Thank You so much for how you explained everything. It actually makes sense compared to reading the textbooks.
Thank you so much for your wonderful lectures, in from Hong Kong at a university here but your lectures are my go to to understand the whole concept. 👏🏽🤩
Thank you so much professor. Your videos help me out a lot...
Thank you so much , this lecture is a great one , really like it .
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Lifesaver. Thank you!
You make it easy for us ❤thank you for your time
You're welcome! Thanks for watching.
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Perfectly explained 👍
It helped alot. Thank you so much professor.
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This was so helpful. Thank you sir.
You are very welcome!
- Selera, anggap saja hal ini berkaitan dengan apa yang di sukai atau tidak sukai dapat dipengaruhi oleh iklan, teman, atau hasil yang mengatakan bahwa memakan hot dog sebelum mereka ujian akan membuat mereka mendapat nilai yg baik
- Ekspektasi terhadap masa depan, misalkan ada suatu produk yang anda harapkan untuk mengalami kenaikan yang lebih tinggi dimasa depan
- Populasi, bisa kita katakan jumlah pembeli dipasar
Faktor penentu diatas akan menggeser kurva permintaan ke kiri atau ke kanan yang akan menggeser kurva permintaan pasar
thanks so much, this lecture help me a lot
You're welcome!
Thank you for this amazing lecture.
I have a question, at 51:00, in this example decreasing in hotdog's bun could shift the supply curve to the right too. because as you mentioned earlier in this chapter changes in prices of substitutes can shift both supply and demand curve. am I right?
thank you in advance.
Not in this case. Changes in the price of a substitute in consumption will shift the demand curve only. You may be thinking about substitutes in production, but that is different. A substitute in production is an alternative product that a producer can produce. For example, consider a business that makes ice cream cones and hot chocolate. Those are substitutes in production, and the firm can switch between them depending on the profitability of each. In our case we are talking about substitutes (and complements) in consumption.
You might also have been thinking about changes in input prices. Consider a firm that makes hotdogs (not the buns, just the meat). Buns are not an input into the production of the meat, so a change in the price of buns will not have any impact on the supply curve for the meat.
I hope that answers your question.
Dr. Azevedo
@@DrAzevedoEcon thank you sir for all the efforts you did making these videos. Sir please continue this series again i can't find quality content like this anywhere.. sir please complete welfare economics and factor pricing too.
Thank you sir
Mohd Sadiq
so helpful cant thank u enough 😊
thank you SIR for ur effort ☺♥
You're very welcome!
Damn that was fire, i have exam tomorrow , i am gonna crush it. Everything seems easy now
Good luck with the exam!
@@DrAzevedoEcon I aced the exam, Thank you so much for the good work.
@@habibshakil6285 Great job!
Thanks, is very good
Happy to help!
Thank you so much😊
i want this guy to be my teacher
Thank You
Thank you so much for precious explanation. I am wondering that which determinant causes supply and demand curve to shift at the same time? Can We say prices of supplementary/complementary/related goods shifts those two curves simultaneously?
For example, in hotdogs market, increasing prices in hotdog buns can shift supply and demand at the same time? Because in that case suppliers want to put more inputs in hotdogs buns(related goods) and buyers want to buy more of hotdogs (complementary). In that situation, supply for hotdogs will shift to left as opposed to demand for hotdogs will shift to right . Am I right?
Yes, you could have something like you have described that shifts both the demand and supply curves. In your example, the firm would have to be producing both hotdogs and hotdog buns. However, you need to change your example to have demand decrease. If hotdog buns get more expensive people will buy fewer buns (decrease in quantity demanded), which will cause a decrease in demand for hotdogs.
I tend to stay away from things that shift both curves when I am teaching. I like to focus on one thing at a time. Another example of something that can shift both curves would be expectations about future price.
Sir at 53:50 the supply curve should be shifted towards left bcz it supply is increasing. Right??
No...a leftward shift in the supply curve is a decrease in supply and a rightward shift is an increase. Here's the part of the video where I talk about it:
th-cam.com/video/JcN4dBoerwc/w-d-xo.htmlsi=zv86JVd8jnjTdAsL&t=2718
My understanding is that a change in price for hotdogs will increase demand along the curve and there will be a shortage of supply, and there will be incentives for the seller to drive up the price as there is a high demand until the new equilibrium is met. The price of a good does not cause a shift but rather a movement along the curve. Is my understanding incorrect? please help!
If we think about the basic demand/supply model, the price is determined by the intersection of the demand and supply curves. This is the only place where the quantity demanded and quantity supplied are the same....so there is no incentive for anyone to change the price. We can suppose that price is lower than the equilibrium, and then think about what will cause it to rise back to equilibrium. If price is lower than the equilibrium price, then quantity demand will be bigger than quantity supplied. In other words, there will be a shortage of the good. In that case, sellers will have an incentive to increase price. This incentive will not go away until price has been increased to the equilibrium. Sellers will stop increasing price at that point because they are selling the quantity they want to sell. You are correct, that neither curve will shift in this process.
wouldn't the increase in the price of hotdog buns be a supply shifter as its an increase in input prices and would decrease the supply for a while (leftward shift). please explain this sir.
I'm not sure I'm understanding your question. If not, feel free to ask again. If you are talking about a restaurant that purchases buns as an input and then puts a hotdog in the bun, then yes, an increase in the price of buns would be an input price for that good (hotdog in a bun). However, if you're talking about the supply curve for the sellers who are selling only the hotdogs themselves (packages of hotdogs), then no, the price of buns would not shift the supply curve. The price of buns would be a demand shifter because the hotdog and bun are complement for consumers.
What kind of board is that?
11:50
16:02
Where is other videos ? From chapter 4 to chapter 9?
Right here:
th-cam.com/play/PLTjEimbqDkpBL55W6wye1jTcYePjehkT3.html
at 30:16 he gets a green mustache 😆
You have a good sense of humour😂😂
abi beni bu dersten en kötü ab geçirirsen sana dua edicem.
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