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What is the difference of marginal revenue and price ? Since you can earn more than worth of your product since you are monopoly,what stops you in MC = MR
Thank you so much, i have been trying to understand it for 2 hours and only after watching your video now I finally understood. Thank you again for short but clear explanation😊
Great explanation! I can't find your video on perfect competition can you please share the link for that under this comment i will greatly appreciate it
...I have a question...the graph illustrates cost curves, as well as revenue and demand lines...shouldn't the y-axis be labelled 'price/cost,' rather than just 'price?'...
Great question! The simple answer is no, and here's why: all of the costs curves, revenues, and the demand curve for that matter, are a function of (depend on) the price of the good, and the quantity produced and/or sold. The cost curves are not a function of the cost, they're a function of the price. Does this help?
Difficult for me to visualise this....tq for explaining....to me, its seems more rational to just use the $ symbol...that would relate to both costs(that which is sacrificed) and the mark-up selling price(benefit earned)....
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If you found this video helpful, consider liking the video, sharing it with your friends, and subscribing to the channel for more educational economics content!
What is the difference of marginal revenue and price ? Since you can earn more than worth of your product since you are monopoly,what stops you in MC = MR
Great explanation. You made this much easier to understand
Thank you for making it so easy to understand!
You’re welcome! :)
Thank you for creating these videos, they are really helpful to me as an Economics university student ❤❤❤
That's really encouraging to hear! I'm glad you're finding the videos valuable :)
Thank you so much, i have been trying to understand it for 2 hours and only after watching your video now I finally understood.
Thank you again for short but clear explanation😊
You're very welcome! I'm glad I could help :)
so much value in such a short video, thank you so very much!!! For some reason, your animations with the colors make it much easier to understand.
better than the textbook 😅
Great explanation! I can't find your video on perfect competition can you please share the link for that under this comment i will greatly appreciate it
...I have a question...the graph illustrates cost curves, as well as revenue and demand lines...shouldn't the y-axis be labelled 'price/cost,' rather than just 'price?'...
Great question!
The simple answer is no, and here's why: all of the costs curves, revenues, and the demand curve for that matter, are a function of (depend on) the price of the good, and the quantity produced and/or sold. The cost curves are not a function of the cost, they're a function of the price.
Does this help?
Difficult for me to visualise this....tq for explaining....to me, its seems more rational to just use the $ symbol...that would relate to both costs(that which is sacrificed) and the mark-up selling price(benefit earned)....