The best presentation have watched so far where trade offs make sense, i.e. what one entity gives up matches what the other gives up. However, one still does not have absolute advantage over the other.
Extremely helpful video as always! Do you mind creating a video on externality graphing and monopoly markets using Marginal Revenue. I'm struggling with this in my class a little bit
Thanks for the comment! Sure thing re video, can I ask was there anything specific about the use of MR in this situation that was different or confusing in your class? Or is it just the graphing of a run-of-the-mill Monopoly outcome where MR=MC vs. a social optimum, with, say a negative externality (marginal social cost) higher than private costs?
@@econhelp_official jus the graphing of a run of the mill monopoly outcome. We have been working on graphing the four types of market failure and following up with associated calculations. Apologies I have since watched your monopoly video which has helped immensely. Im now only struggling with externality graphing and equations as well as vertical summation from a table. When graphing externality. If external benefits equation is not given does that mean social and private marginal benefits are the same? Or we use private marginal benefits for all calculations?
I tried to do all of them in one video but it was too cumbersome! I've released one, the next should be quicker since I know the format now :) th-cam.com/video/VSb1uEaAffM/w-d-xo.html
The best presentation have watched so far where trade offs make sense, i.e. what one entity gives up matches what the other gives up. However, one still does not have absolute advantage over the other.
Thank you so much that's so sweet for you to notice! I do think carefully about my videos. Sometimes it doesn't work so much, but sometimes it's good!
Extremely helpful video as always! Do you mind creating a video on externality graphing and monopoly markets using Marginal Revenue. I'm struggling with this in my class a little bit
Thanks for the comment! Sure thing re video, can I ask was there anything specific about the use of MR in this situation that was different or confusing in your class? Or is it just the graphing of a run-of-the-mill Monopoly outcome where MR=MC vs. a social optimum, with, say a negative externality (marginal social cost) higher than private costs?
@@econhelp_official jus the graphing of a run of the mill monopoly outcome. We have been working on graphing the four types of market failure and following up with associated calculations. Apologies I have since watched your monopoly video which has helped immensely. Im now only struggling with externality graphing and equations as well as vertical summation from a table. When graphing externality. If external benefits equation is not given does that mean social and private marginal benefits are the same? Or we use private marginal benefits for all calculations?
I tried to do all of them in one video but it was too cumbersome! I've released one, the next should be quicker since I know the format now :) th-cam.com/video/VSb1uEaAffM/w-d-xo.html
@@econhelp_official thank-you so much. The first video was extremely helpful!
Great to hear! Here is Negative Consumption Externalities th-cam.com/video/PmegOrDCv_c/w-d-xo.html
it really helps me tysm wish me luck for my final exam
TQ mam
🙏 you’re welcome ☺️ ❤️👍