Me during my exam today: "However, this could be *really* dodgy and bring firms under scrutiny from CMA..... really dodgy stuff.." Seriously though thank you for this vid dal :)
@@signalhd9793 funnily enough, somebody just replied to a 3 year old comment of mine and I’m only 18 now, so i was 15 then and it feels like so long ago, it’s such a weird feeling. In a good way ig. I kinda hope u can feel that too. Heheh 🤭 Also congrats on graduating. This eco makes me feel like imma fail, how could I possibly choose eco in university? Tho I’d really love to.
Dal😑 you! you my man are just. ey. I have no words for you. the way you explained 2nd Degree😐 ... *sigh😑... mxiii... i just don't have words for you. idk where you are but i hope a brick of gold just drops on you man! damn. you've been saving my behind since i was in highschool 4 years ago😭😭 and I'm about to write my final exams in uni and here you are at it again😩 God bless you heavily Dal. seriously..
Your videos are amazing! Can you make a video on "The theory of second best" including the graph (with two DWL) and comparing naive economists vs sophisticated economists when intervening in a market where there is uncorrectable market failure. It would be amazing to know for some A* evaluation points in the exam
For 2nd-degree price discrimination,is that lower price only for the good sol between q1 and q cap ,this would make sense why the consumer surplus is that small triangle.
I was looking for a question on why it wasn't the trapezium but I'm sure what you're saying is right and that the surplus is only between Q1 and Qcap as that is the quantity sold, not below Q1
thank you very much for the video sir. However, i have an important question. For 1st degree discrimination wouldn't there be allocative efficiency because technically price will always = Mc and since AR and MR will be equal for first discrimination, thereby so will the allocative efficiency
yes, indeed, first-degree price discrimination is the very efficiency just like he said, all the consumer surplus turned into monopoly profit. However, it is not realistic in the real world that the firm can know every consumer's willingness price to pay. hope that explanation will help you
There's allocative efficiency when there's 1st-degree discrimination. And saying that the "allocative inefficiency" outways the "pros" of price discriminating monopolies is biased. One could argue that the producer having all the surplus is as 'wrong' as the consumer having it. What's wrong with paying the price equivalent to what you value the good or service?
It's always allocative inefficiency when there's 1st-degree discrimination. Consumers are losing their surplus to the monopoly, and the price charged isn't the welfare-maximizing point anymore (MC=AR/the market price). There's no biasedness, it's just facts.
I have a question.. For an airline, for example, is economy class and business/first class considered an identical service? I mean yeah, they both fly you to your destination but first/business class will have features and amenities that economy class doesn't, so are they considered the same or different services? So with airlines charging customers different prices for each, it it a form of price discrimination? Thanks!
But price discrimination assumes the products are the same and the costs are the same. The cost of running business class is higher than running economy, so its not price discrimination
Hi Dal, Quick question. Let's say you want to purchase a membership to a gym .Would it be second degree price discrimination if the annual membership is cheaper ( per month ) than the monthly membership on its own ?
In 2nd Degree PD - why does the MC curve go vertical at Max Capacity? what is the meaning of that vertical supply curve? Why not end it at horizontal line?
the firm has limited capacity and the vertical line shows where the supply ends. for instance, a cinema having a certain number of seats for a movie. therefore, we use a vertical line to show the maximum capacity and where firms should aim to maximise revenue in the last minute.
This is late as hell, but for anyone who finds this: MC is parallel to the X axis in 2nd degree discrimination due to the fixed supply offered by firms such as airliner seats which they can't supply anymore of
That’s racist. You’re benefitting off these free lessons online, you should be grateful for the material taught by those guys in their non native language (aka English so people like you can learn from them)
Oh no...you're getting it wrong. I respect these guys for sharing freely what they know. And btw I'm an Indian myself...i have my own accent and so I'm just joking!
Good evaluation: - Hwer technoloy develpomewnts ie the use of apllciaitons such as midrosodft teams alliwng for peopel iebusinesmen.woman to talk to otyher people- and thuis takingt last. mionutye flights between Dubaio to London for instnac ehas signifcantly reduc3d price discrnminqtioin for those with inelastic demand. Thias is becuse they no longe have to phsucally flyfrom a-b and can thereofre not have to oay a different pricve, to different consumers for the aamne g/s with no differneces to the cowts of production ????
![[FINALE] 💸ที่แท้พ่อเป็นผู้ถือหุ้นบริษัทพันล้าน เขากลับใจตอนนี้ก็สายไปแล้ว🙇🏻♂️#ละครคุณธรรม #short](http://i.ytimg.com/vi/yFwgjTFISUI/mqdefault.jpg)
The man who saves the British education system
😂🎉
The entire world's actually 🤓☝
Man City need to get on this second degree price discrimination, might fill their stadium then
im gonna use this example to understand and remember 2nd price discrimination lool thanks
Not funny mate
Thanks for this. now i can remember 2nd degree by thinking of the Emptyhad lol
😂
Me during my exam today: "However, this could be *really* dodgy and bring firms under scrutiny from CMA..... really dodgy stuff.."
Seriously though thank you for this vid dal :)
Exam: Price discrimination 25 marker
Me: writing "really dodgy"everywhere
this is is funny bro. wtf why no replies?
@@emant8396 lol a reply 4 years later and having just graduated with a degree economics and politics
@@signalhd9793 funnily enough, somebody just replied to a 3 year old comment of mine and I’m only 18 now, so i was 15 then and it feels like so long ago, it’s such a weird feeling. In a good way ig.
I kinda hope u can feel that too. Heheh 🤭
Also congrats on graduating. This eco makes me feel like imma fail, how could I possibly choose eco in university? Tho I’d really love to.
@@emant8396 Its not too bad as long as you stay on top of the modules. The math was hard for me tho
@@signalhd9793 i see. 🧡
this guy explains everything so much clearer in an 11-minute video than what my professor (to whom I paid tons) did for a whole semester
I always make sure to turn off my ad blocker for you dal!
I didn't think about this, I've been benefiting from the free rider problem this whole time :(
@@MCart1215dayum that was some good application of knowledge right there
@@thekingofweebs9825 I ended up getting an A* 😁 Perusing Dal’s comments did me well
@@MCart1215 drop some tips I got like 3 weeks until paper 1
@@Pod.Snipszboss icl help me out, I know all the content off by heart basically but I cant read the wordings of questions
Dal😑 you! you my man are just. ey. I have no words for you. the way you explained 2nd Degree😐 ... *sigh😑... mxiii... i just don't have words for you. idk where you are but i hope a brick of gold just drops on you man! damn. you've been saving my behind since i was in highschool 4 years ago😭😭 and I'm about to write my final exams in uni and here you are at it again😩 God bless you heavily Dal. seriously..
me writing notes:
most trusted textbook: xxxxxx
dal: yyyyyyy
me proceeds to write: yyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyx
😞😩you the real mvp
thank you for your simple yet concise explanations!! its so unlike boring professors who dull the fascinating concepts of econs
Finally understood the concept, I was literally struggling with this one 😅
In need of a Dalfade soon...
⁉‼❗🗣🗣🗣📢WE HITTING THE BIG BOU A STAR GRADES WITH THIS ONE❗‼💱🗣🗣🗣🙅♂🧢🔥🔥
Best explanation ever got...thank you so much 😍 love from Nepal
Very informative and clear explanation!
you're amazing at teaching!!
He looks like vikkstar
Amazing doggy stuff Bro! Hats off though, you nailed it!
Thanks for explaining this so coherently !
It's very important to know price discrimination in market structure
Your videos are amazing!
Can you make a video on "The theory of second best" including the graph (with two DWL) and comparing naive economists vs sophisticated economists when intervening in a market where there is uncorrectable market failure. It would be amazing to know for some A* evaluation points in the exam
We passing a level econ with this one🤑
Amazing person you are!
May God bless you abundantly, you are perfect, I learnt so well, may God continue to give you knowledge to teach us
Beautiful explanation, thank you!
How is 1st degree price discrimination dodgy? And also for 3rd degree, is MC always horizontal?
For 2nd-degree price discrimination,is that lower price only for the good sol between q1 and q cap ,this would make sense why the consumer surplus is that small triangle.
I was looking for a question on why it wasn't the trapezium but I'm sure what you're saying is right and that the surplus is only between Q1 and Qcap as that is the quantity sold, not below Q1
Oh i thought there's somebody impersonating you and your youtube channel!
Thanks you're a life saver
Thanks, a good presentation.
Real dodgy stuff BRO......Love from India
Econ tomorrow let’s go
thank you very much for the video sir. However, i have an important question. For 1st degree discrimination wouldn't there be allocative efficiency because technically price will always = Mc and since AR and MR will be equal for first discrimination, thereby
so will the allocative efficiency
yes, indeed, first-degree price discrimination is the very efficiency just like he said, all the consumer surplus turned into monopoly profit. However, it is not realistic in the real world that the firm can know every consumer's willingness price to pay. hope that explanation will help you
omg i love u. thank God u exist.
Either Dal is going gym or Brexit is keeping his heart rate up
Where is the "million hearts" button when you need it ❤.
What about for a negativer- you can dicuss creaticve destruction here??
At 4:22 you say profit maximising is at Q1 but arent you making more profit when you supply at QCap?
MC=MR is the point of profit maximisation
Mc = Mr is profit maximisation and the value is then read from the AR curve to find the price
God bless you, sir!
There's allocative efficiency when there's 1st-degree discrimination.
And saying that the "allocative inefficiency" outways the "pros" of price discriminating monopolies is biased.
One could argue that the producer having all the surplus is as 'wrong' as the consumer having it.
What's wrong with paying the price equivalent to what you value the good or service?
thats right
It's always allocative inefficiency when there's 1st-degree discrimination. Consumers are losing their surplus to the monopoly, and the price charged isn't the welfare-maximizing point anymore (MC=AR/the market price). There's no biasedness, it's just facts.
My teacher couldn’t teach this in a year but I understand everything now just in 11:06 minutes 😁 lol
Yo piff ting wats ur bbm pin
Possible to have a numeric example of each ?
I have a question.. For an airline, for example, is economy class and business/first class considered an identical service? I mean yeah, they both fly you to your destination but first/business class will have features and amenities that economy class doesn't, so are they considered the same or different services? So with airlines charging customers different prices for each, it it a form of price discrimination? Thanks!
But price discrimination assumes the products are the same and the costs are the same. The cost of running business class is higher than running economy, so its not price discrimination
@@jemimawilliams4649 This clears it up, thank you so much
2nd degree price discrimination, the consumer surplus gain im pretty sure is the trapezoid area .
Yeah I was thinking this, do you know for sure
that is really helpful for me, thanks for teaching!
anyone got a level econ tomorrow and cramming now too?
JEDDIE FARARA yup 😰
@@user-rz3cp8wf3x Good luck mate
@@jeddiefarara7373 CIE?
CopelandHD AQA
Yup😭🤦♂️🤷♂️
very helpful and clear!
Hi Dal,
Quick question. Let's say you want to purchase a membership to a gym .Would it be second degree price discrimination if the annual membership is cheaper ( per month ) than the monthly membership on its own ?
no
Definitely it is the second degree discrimination
In 1st-degree price discrimination, can monopolists identify separate market segments as in 3rd degree? or do they use an aggregate demand function?
this is so great! thank you
great stuff bro kudos
hi good video, is there any on personalised pricing
Thank you Prof.
tysm. Great video. 🥰
What are the eval pointshere?
ddpend on hwo mucvh tyhe price dsicim,naiton is?? sdo little- vey little differnce???
regfressvie?-0 affect the poor- impact poor the mostr.;
you have really nice handwriting
In 2nd Degree PD - why does the MC curve go vertical at Max Capacity? what is the meaning of that vertical supply curve?
Why not end it at horizontal line?
the firm has limited capacity and the vertical line shows where the supply ends. for instance, a cinema having a certain number of seats for a movie. therefore, we use a vertical line to show the maximum capacity and where firms should aim to maximise revenue in the last minute.
Great video
Why is MC parallel to X axis @ecodalplus?
This is late as hell, but for anyone who finds this: MC is parallel to the X axis in 2nd degree discrimination due to the fixed supply offered by firms such as airliner seats which they can't supply anymore of
@@BrainlessV2 thank you nonetheless 🤭❣️
@@BrainlessV2 u have a brain my friend
Finally! An Indian guy without 'the' Indian accent with excellent teaching skills😸🤭
That’s racist. You’re benefitting off these free lessons online, you should be grateful for the material taught by those guys in their non native language (aka English so people like you can learn from them)
Oh no...you're getting it wrong. I respect these guys for sharing freely what they know. And btw I'm an Indian myself...i have my own accent and so I'm just joking!
@@jklal8374 shut up u liar never disrespect the king Dal again, u should be ashamed of yourself
Nice presentation!
Thank you❣️
Thank you so much you helped me a lot
What is your name? I am struggling to know ur name..
Thank you
Thank you!!
great, thank you]
Good evaluation: - Hwer technoloy develpomewnts ie the use of apllciaitons such as midrosodft teams alliwng for peopel iebusinesmen.woman to talk to otyher people- and thuis takingt last. mionutye flights between Dubaio to London for instnac ehas signifcantly reduc3d price discrnminqtioin for those with inelastic demand. Thias is becuse they no longe have to phsucally flyfrom a-b and can thereofre not have to oay a different pricve, to different consumers for the aamne g/s with no differneces to the cowts of production ????
there's smth white in his hair
ok
my goat
Legend
🐐
Nice accent.
I love you dal
Thank you.
Everything just sounds nicer in british accent, don't ask me why lol
sorry teach u are wri. on ur ex.book
🙏🙏🙏🙏🙏🙏🙏🐫
100th comment
what the sigma
Daddy ?🤭🤫
reeeeeli dodgy stuff dere
thank you