I have wasted four hours in class to understand this. and u made this happen within these minutes. thank you so much. appreciate it. keep on the good work. gooday mate.
so....the high availability of substitute goods (when Swisscom raised price unilaterally) makes the demand curve ELASTIC above the central point. Customers would just switch to other service providers, thus reducing the quantity demand for Swisscom drastically. Meanwhile, under the central point, all firms in the oligopoly set price in the same pattern. Swisscom reducing price at the same time with other firms wouldn't drastically affect the quantity demand of any firms, since they all have the same price lower than before.
Good evening to the best economics teacher in the world, I had a question. So in a normal demand and supply diagram, the PED varies along the demand curve, with above equilibrium being relatively elastic, right? Then why do we need a kinked demand curve that also represents the same thing (or does it), with above equilibrium being elastic. Also in a normal demand and supply diagram, it is said that firms tend to produce at the elastic portion of the demand curve where TR increases, but in this kinked graph, it is said the TR decreases in the elastic portion of the curve. Thank you.
Because it's of the intensive capital needed to start the businesses. E.g. in mines you need investment into machinery fixed cost more than labour. It's only many months later do you get to the mineral whether it be gold or even oil. In telecoms it's the infrastructure investment because you even sell phone plans to cover the cost.
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I have wasted four hours in class to understand this. and u made this happen within these minutes. thank you so much. appreciate it. keep on the good work. gooday mate.
+Md shakil Ibrahim i know right?
hope my economic teacher watch your video, great job!!!
Your explanations are THE BEST!
Thanks Jason. I have been reading by Microeconomy and couldn't get this kinked curve. Until I watched your video-).
I cant find the previous lesson on oligopoly....where is it? Can jason or somebody respond with the link
Great example, thank you.
Brilliant video, thank you so much!
Thanks for the video! Covered a lot that will be on my final exam.
so....the high availability of substitute goods (when Swisscom raised price unilaterally) makes the demand curve ELASTIC above the central point. Customers would just switch to other service providers, thus reducing the quantity demand for Swisscom drastically. Meanwhile, under the central point, all firms in the oligopoly set price in the same pattern. Swisscom reducing price at the same time with other firms wouldn't drastically affect the quantity demand of any firms, since they all have the same price lower than before.
Great video!
Fantastic!!!
This reminds of Business management and economics (elasticity and demand) hahaha!
This reminds of Business management and economics (elasticity and demand) hahaha!
Yeah it is economics
Good evening to the best economics teacher in the world, I had a question.
So in a normal demand and supply diagram, the PED varies along the demand curve, with above equilibrium being relatively elastic, right?
Then why do we need a kinked demand curve that also represents the same thing (or does it), with above equilibrium being elastic.
Also in a normal demand and supply diagram, it is said that firms tend to produce at the elastic portion of the demand curve where TR increases, but in this kinked graph, it is said the TR decreases in the elastic portion of the curve.
Thank you.
This video help me much for my presentation in this topic.. Big thanks For ya Jason.. ^_^
why would the MC for oligopoly increases rapidly in the short run?
i guess because they can´t build more plants (economies of scale)
Because it's of the intensive capital needed to start the businesses. E.g. in mines you need investment into machinery fixed cost more than labour. It's only many months later do you get to the mineral whether it be gold or even oil. In telecoms it's the infrastructure investment because you even sell phone plans to cover the cost.
Great 💐
Question how do the AVC and ATC fit into this diagram?
good question
great job!!
Jason can you please tell why does MR SLOPES TWICE AS FASTER??
hello there