Mr Khan, You are the best economics teacher available not only on TH-cam but in the whole world. I do not understand anything that I is being taught in my class by ny teacher, but with your videos, I am a 100% sure that I'll clear my semester (with a good percentage). Sir, You are AWESOME. Thanks for donating free information and knowledge to the society.
This man is an excellent teacher, and his fun personality really comes through. Thank you so much for making this video. Just watching you enjoy yourself eliminated all my stress. Have a wonderful day and stay blessed!!!
When Demand Curve is Inelastic; Price and Total revenue move in the same direction (Increase in Price results in Increase in Total Revenue and vice-versa). So the percentage change in Price results to a proportionally lower change in Quantity demanded and hence the area of the total revenue changes because the increase in revenue resulting from selling the product at an increased price is greater than the loss in revenue resulting from reduction in quantity demanded.
These are basic education, Kurt. Illustrated by these elementary models to captivate student interest in the study. That would be in the field of Ph.D.. Of course we don't want to generalize things.
Great video!! I have 2 questions 1. We are calculating the price that maximize the revenue, in which we are not using the elasticity. In this case why is important de elasticity? 2. How can I calculate the elasticity of the six price points (not individually, like a everything)? Thanks in advance for your reply.
Multiple topics are covered. Try going over his beginning math tutorials. Usually people get flustered when they don't understand things. Learn at your own pace, good luck pal'!
Hii I tried constant unit elasticity.. but the the demand graph is always a diagonal straight line.. and not curve.. so can u explain that plz.. coz u have shown curve..
I am so grateful to have the Khan Academy as a resource while trying to navigate through my Microeconomics course!
Sir, you are the reason I can study the day before my tests. I love you.
Mr Khan,
You are the best economics teacher available not only on TH-cam but in the whole world.
I do not understand anything that I is being taught in my class by ny teacher, but with your videos, I am a 100% sure that I'll clear my semester (with a good percentage).
Sir, You are AWESOME.
Thanks for donating free information and knowledge to the society.
This man is an excellent teacher, and his fun personality really comes through. Thank you so much for making this video. Just watching you enjoy yourself eliminated all my stress. Have a wonderful day and stay blessed!!!
People like you deserve heaven. Keep it up Sal!!
Just had the most satisfying brain click as you graphed the TR. Thanks!
You are literally the best on the internet
11:00 anyone can explain how the percent change in quantity and price affect area of total of revenue?
When Demand Curve is Inelastic; Price and Total revenue move in the same direction (Increase in Price results in Increase in Total Revenue and vice-versa).
So the percentage change in Price results to a proportionally lower change in Quantity demanded and hence the area of the total revenue changes because the increase in revenue resulting from selling the product at an increased price is greater than the loss in revenue resulting from reduction in quantity demanded.
probably the best resource in the internet'
This man is so knowledgeable
This explains so much, thank you, I was a bit confused after class, and this cleared it and gave much more information!❤
I could listen to Sal say "burger stand" all day.
Also thank you so much for this
These are basic education, Kurt. Illustrated by these elementary models to captivate student interest in the study.
That would be in the field of Ph.D.. Of course we don't want to generalize things.
Thank you!! Well- explained!
Most helpful page ever!!!!
Extremely high quality!!
Great video!! I have 2 questions
1. We are calculating the price that maximize the revenue, in which we are not using the elasticity. In this case why is important de elasticity?
2. How can I calculate the elasticity of the six price points (not individually, like a everything)?
Thanks in advance for your reply.
POV: Its 2023 and this man's video from 11 years ago is saving your microeconomics module grades.
Thank you!
I have a query, how do I calculate the price elasticity for say the given data? What formula do I use?
If total revenue rises for the good price falls then , is called elastic or in elastic?
Thankyou
Multiple topics are covered. Try going over his beginning math tutorials. Usually people get flustered when they don't understand things. Learn at your own pace, good luck pal'!
"short and fat rectangle" =))
Sht... Day before my exam ik nothing. But here I am..... Absorbing every information like a sponge 🤣
Hii
I tried constant unit elasticity.. but the the demand graph is always a diagonal straight line.. and not curve.. so can u explain that plz.. coz u have shown curve..
here the demand curve is linear just for the simplicity of studying. it doesn't necessarily has to be linear.
Instead of making a curve, why didn't he simply join point C and point D ?
@johmarie7 ...
there are a lot of math and statistics in economics...
Did u say area in a curve ? Half ? Huh 🤔 !!
thanks