I've managed to pass ALL of my econ subjects at uni thanks to this guy! I actually highly recommend you guys purchase the review pack it help me soo much!!
The answers are just there, but if you do the packet while watching the complete summary videos (which the packet gives you access to) then you won't have any questions.
Mr C! Please do a midpoint (averages) formula video. It would be extremely helpful for the midterm next week!! Love the channel, it's actually so helpful. Thank you!
You saved me during IGCSE economics You saved me during ALevels You are currently saving me during introductory college microeconomics. Thank you For sticking with me during 2016-2020
Dude just wanted to thank a moment to appreciate and thank you for all you have been doing for many of us. Eco is seriously not an easy subject for me but with people like you around it really flips that statement around.
After trying numerous explanations for my economics course I found Mr Clifford is a godsend. His explanations are so easy to understand and he uses real life examples and very handy ways to remember things. Love him. 100 out of 10
Hi! it's my second grading period here and this microeconomics series really help me a lot! thank you for all the tips and very comprehensive discussion. this channel literally made microeconomics more fun to learn!
Thank you so much Mr Clifford! You have no idea how much of a blessing you are, to us college students. I've been panicking over a exam I need to write in less than two weeks and watching your videos has helped me so much. Thank you once again.
I passed 12th grade and entered hotel school. I forgot almost everything I learned in econ class at school. Mr. Clifford helped me recap everything again! Thank you so much!
For question 2 i got -3 using the midpoint formula the way you calculated it didn't allow me to grasp it fast enough. Also for question 3 i got 3.857 also using the midpoint formula. Are my answers incorrect?
percentage change in quantity=(5-10)/((5+10)/2)=(-5/7.5)=-0.66. why im not gitting the 50% here?! Am I doing somthing wrong?? and also for change in price im gitting 0.22 !! could you please help me out? relative to the 2ed question on your video. thanks!
i notice you are using the direct percentage change method in your calculation rather than the midpoint formula. is there a reason for this, as the answers you get will come out different when using the midpoint formula.
Hey Mr. Clifford! I actually just had a quick question: Does Income Elasticity or Cross Price Elasticity determine whether a good is Elastic, Inelastic, or Unit Elastic? For example, let's say if the coefficient of either was > 1 (Elastic), < 1 (Inelastic), or = 1 (Unit Elastic). Let me know if I'm right on this. Also, if possible could you explain why it doesn't apply if it doesn't as well. Thank you so much!
managed to get a A- in my first quiz cause of u, hoping for A+ in my second quiz. Tysm ive never studied eco before and my instructor teaches like everyone is a economist
Test Information Description Assume a demand curve P = 140 - 0.2Q QUESTION 1 The quantity-intercept QUESTION 2 The price-intercept if demand should decrease by 10%. QUESTION 3 The slope of the demand curve if demand should decrease by 10%. NB!! Round off to one decimal place and use a full stop for decimal places QUESTION 4 The marginal revenue output (use the original demand equation). QUESTION 5 The price if total revenue is to be maximised (use the original demand equation). QUESTION 6 Maximum total revenue (use the original demand equation). PLEASE HELP ME ON THAT QUESTION
Thanks , here is the question , Demand function for betting is given as Qd=0.2Averting +0.7 +income _0.5price and spending on advertising is k1000, income level k4000 and price is k10. Find: 1.quantity demand number . 2.The number of quantity supplied.
I'm confused by your math for question six. If the equation for cross-price elasticity is percent delta Qa divided by percent delta Pb then shouldn't this equal {(30-20)/30} / {(25-20)/20} = (10/30) / (5/20) = 0.333 / 0.25 = 1.32 . You say that the math is the same; however, the quantity demanded of peaches increases by 33% whereas the quantity demanded of apples decreases by 50%. I appreciate your teaching, but I'm not sure who of us is incorrect with our math for this question. Thank you, toodles.
Hello I think you made a mistake in 10:06 ? 20-25/20 x 100 gives -25 hence it's supposed to be -2 and not a positive 2. Hence it should be considered complementary goods. Although I am not really certain but please do check as this is my first year in Economics in gr 11 and I just want to make sure since exam wk is next week. Have a great day!
I am MBA student at LPU with almost no economic background, we started studying micro from the second module it's been almost 2 weeks since we started Its really difficult for me to catch up. But, I understand the concept clearly after watching your videos. You saved me a lot of time thanks.
hey thanks man, hopefully all is great for you im just going to say that you, and my econs teacher, have helped A lot. Transitioning from IB myp to IBDP was hard, especially the gap in difficulty for econs, but your videos have helped alot so thank you for that
there is technical mistake - question 3. says quantity increase from 10 to 25 and on graph (7:10) you show increase from 10 to 20. Anyway thanks for the video !
Your videos are amazing. Thank you so much. You make everything I can't understand in class so easy to learn... this video helped me master elasticity 1 hour before my midterm. THANK YOU!!
I'm so happy I found your channel, your videos are amazing, now I think that i might actually pass my micro-eco class. do you by chance teach marketing and accounting, if you did, that would be awesome. if you dont, do you know of any others on youtube that do, I'm sure it wont be as good as your videos but any help would be great.
This guy is so helpful.....school is very hard for me especially Econ and my teacher is from Russia and is hard to understand and doesn't explain these topics well at all. No need to stress, just learn from Mr.Clifford and you are good!
you guys i need help. here's the question: A seller expects that when the price is raised by 15%, sales will drop by 13%. What is the price elasticity of demand, and what will happen to the total revenues? the price elasticity is .87, but how do i know whether total revenue increases or decreases and how do you know?
I think you made a mistake in question one,by the answer must be relatively inelastic,and not what you conclude. B'se when a price largely increases,the Qd decreases by little.
Thank you so much for your videos sir. I've been struggling with Econ at uni but your videos are actually making it possible for me to help other students understand the content. Great videos👍❤
How would the reduction in airfare impact the elasticity of demand for flights of -1 percent? Which elasticity is impacted in this scenario and how would you interpreter this result? How can we determine the outcome of the uncertain variable? Include example for context
If their saying that "14 percentage rise in the price of orange juice decreases the quantity of demanded by 20 and increase the quantity of apple juice by 13 percent. the question says calculate price elasticity for orange juice. the other one says calculate the cross elasticity demanded for apple juice. how do i tackle the question?
Please i need a help because i am confused Sometimes we use the midpoint formula to calculate the price elasticity of demand and sometimes the general formula When should we use the midpoint and when not because they both give different results
Damn it I spent 1 hour trying to find out why I got 2 wrong and got (3) using the midpoint method got me freaked since my Econ course only uses midpoint but now I’m confused
![[UNCUT] “บอสณวัฒน์” ลากไส้!! ใครหนุนหลัง "แม่ตั๊ก ป๋าเบียร์" I คนดังนั่งเคลียร์ I 30 ก.ย. 67](http://i.ytimg.com/vi/QlD7mU2KKRk/mqdefault.jpg)
6 years later and his videos are still helpful
50% sale on the review packs - wow
His review packs are basically Elastic because the price has gone down so his total revenue will go up
nerd
Its Eleastic :-)
@@bisentimkangaza4617 yeah thats what he said
Indeed
@@joelopez3552 bro this is literally an economics youtube channel
Mr. Clifford is saving many of us #2019
A
m
e
n
to that
He is saving me in 2020!!!!
@@laxmisoni7258 I got an A because of him!
He is still saving us...
Helloo 2020!!
I've managed to pass ALL of my econ subjects at uni thanks to this guy! I actually highly recommend you guys purchase the review pack it help me soo much!!
Yes the review pack is great, used it also for some economic courses during my bachelor's
The answers are just there, but if you do the packet while watching the complete summary videos (which the packet gives you access to) then you won't have any questions.
lol I'm using him in year 10, test tomorrow, I'm ded
How do i purchase the review package?
@@sofiazinna9442 Same here, I am in grade 9 and I have test tomorrow, I am dead or should I say ded but ya lol lmao
Mr C!
Please do a midpoint (averages) formula video. It would be extremely helpful for the midterm next week!!
Love the channel, it's actually so helpful. Thank you!
Yes please.
The year is 2020 and this dude helped me pass my class. The least I can do is buy a Mug.
he's about to help me now!
A midpoint method video would be super helpful.
+1
@@ManvendraShah Unit elastic
You saved me during IGCSE economics
You saved me during ALevels
You are currently saving me during introductory college microeconomics.
Thank you
For sticking with me during 2016-2020
You had GCSE econ?!Lucky
@@devsehgal7432gcse Econ is kinda hell but its useful
Dude just wanted to thank a moment to appreciate and thank you for all you have been doing for many of us. Eco is seriously not an easy subject for me but with people like you around it really flips that statement around.
After trying numerous explanations for my economics course I found Mr Clifford is a godsend. His explanations are so easy to understand and he uses real life examples and very handy ways to remember things. Love him. 100 out of 10
Hi! it's my second grading period here and this microeconomics series really help me a lot! thank you for all the tips and very comprehensive discussion. this channel literally made microeconomics more fun to learn!
Your videos are literally saving my semester... Thank you, love your videos. All the way from India. 🤗😊
PLEASE PLEASE!! MAKE A midpoint video!!! THANKS FOR YOUR AMAZING ECON VIDEOS!!
Thank you so much Mr Clifford! You have no idea how much of a blessing you are, to us college students. I've been panicking over a exam I need to write in less than two weeks and watching your videos has helped me so much. Thank you once again.
I passed 12th grade and entered hotel school. I forgot almost everything I learned in econ class at school. Mr. Clifford helped me recap everything again! Thank you so much!
Midpoint video~~
midpoint method examples would be awesome. Thanks, these videos are awesome!
You’re a bloody legend I just passed my exams with an A I love you♥️
Sir Clifford, Thank you so much for making fun and interesting ECON vids! It really helps me a lot in my studies! God bless you more!
Sir, in question 2 if I use (△Q/Q AVE)/(△P/P AVE), I got 3. Why???What's the difference between these two formula?
That's the same question I've been asking myself!
i also got 3
Keli G
It has to be ∆QD/∆P × P/QD
i got -3
OMG ME TOO WHAT IS GOING ON
AHHHHH
For question 2 i got -3 using the midpoint formula the way you calculated it didn't allow me to grasp it fast enough.
Also for question 3 i got 3.857 also using the midpoint formula.
Are my answers incorrect?
Thank you for making these videos!
Thank you for this class. I totally understand the whole concept after watching it.
Your video is really helpful. Thanks for making it!
thankyou somuch Mr Cliffort. you make learning wonderful. you might be the reason I didn't drop econ. I HIGHLY RECOMEND THE REVIEW PACK.
percentage change in quantity=(5-10)/((5+10)/2)=(-5/7.5)=-0.66. why im not gitting the 50% here?! Am I doing somthing wrong??
and also for change in price im gitting 0.22 !!
could you please help me out?
relative to the 2ed question on your video.
thanks!
I don't know where you get the (5+10)/2, he said that this video didn't include the midpoint formula.
"THE GOOD NEWS IS, ITS THE SAME EQUATION!"
This guy taught me 3 sessions of studies in under 15 minutes. What a legend!!! Thank you for sharing your knowledge with us.
midterm video please. But Thank you for all videos very helpful
i notice you are using the direct percentage change method in your calculation rather than the midpoint formula. is there a reason for this, as the answers you get will come out different when using the midpoint formula.
i am from Pakistan your video is really helpful thank you sooo much☺☺
Hey Mr. Clifford! I actually just had a quick question: Does Income Elasticity or Cross Price Elasticity determine whether a good is Elastic, Inelastic, or Unit Elastic?
For example, let's say if the coefficient of either was > 1 (Elastic), < 1 (Inelastic), or = 1 (Unit Elastic).
Let me know if I'm right on this. Also, if possible could you explain why it doesn't apply if it doesn't as well. Thank you so much!
I literally love your videos,they've helped me a lot,beyond a lot actually...love from Namibia😊😊😊
thank you for this video! it is helping me so much in my microecon class so much!
thank you sir a big help im new to economics and have ma aats thank you very much
sir
Omg🥺you’re so good.
I m having my exams in a few hours and this totallly helped me, I feel confident😂😫
Thank you so much. You made it like in 2017 , but here I am in 2020 ,using it.
Man you're really helpful. I love the way teach and your examples are hilarious. Love your videos and keep it up!
This guy clearly deserves subscribers, looks like there is lot of work behind these videos, amazing job ! you just earned a subscriber
Econ Savior ....... Thanks Mr. Clifford ....... Gratitude from India
managed to get a A- in my first quiz cause of u, hoping for A+ in my second quiz. Tysm ive never studied eco before and my instructor teaches like everyone is a economist
"Theres no relation between Macbooks and tires",cries in apple wheels
Love your workk man! I feel so much more confident watching your vids!
thank you for saving my semester
I don't understand the equations please 😭
i went from a D to a B because i got an A on my final even my prof. was SHOOK
b told me i was going to fail jokes on her !!!!
literally just learned elasticity in class today lol
The puppy got to me: subscribed
thank you so much sir Jacob🙂😊
can i know the program that you are using to reord that video and the type of camera please many thanks dear
Thank you for explaining everything that clearly! I am studying my ECON midterms and finals with you. Thank you a lottt! You are an amazing teacherr
umarim bugun bana da yardimci olacak ✌🏻😔
Thank you, sir! Amazing Microeconomics videos that make the subject the as easy as it gets for beginners. I thank you with all my heart.
Am I the only person who got the answer -3 for the question two; not -2?
He has to be wrong...
thank you for everything! I did nt understand anything before watching the video, but now I feel better about the quiz for the sake of the video.
He thought me more in 10 min than my economics teacher in 6 weeks
how question2 is the price% 25 and the quantity 50? how is it 1/4
Wow, I was just assigned this video for HW and was not ready for it to get so deep lol. Thanks for making videos Mr. Clifford.
Test Information
Description
Assume a demand curve P = 140 - 0.2Q
QUESTION 1
The quantity-intercept
QUESTION 2
The price-intercept if demand should decrease by 10%.
QUESTION 3
The slope of the demand curve if demand should decrease by 10%.
NB!! Round off to one decimal place and use a full stop for decimal places
QUESTION 4
The marginal revenue output (use the original demand equation).
QUESTION 5
The price if total revenue is to be maximised (use the original demand equation).
QUESTION 6
Maximum total revenue (use the original demand equation).
PLEASE HELP ME ON THAT QUESTION
Lifesaver= Jacob ❤❤
Thanks , here is the question ,
Demand function for betting is given as Qd=0.2Averting +0.7 +income _0.5price and spending on advertising is k1000, income level k4000 and price is k10.
Find:
1.quantity demand number .
2.The number of quantity supplied.
I'm confused by your math for question six. If the equation for cross-price elasticity is percent delta Qa divided by percent delta Pb then shouldn't this equal {(30-20)/30} / {(25-20)/20} = (10/30) / (5/20) = 0.333 / 0.25 = 1.32 . You say that the math is the same; however, the quantity demanded of peaches increases by 33% whereas the quantity demanded of apples decreases by 50%. I appreciate your teaching, but I'm not sure who of us is incorrect with our math for this question. Thank you, toodles.
Help me anyone... I didn't get the equation of Number 2... PLZ HELP!!!!
We aced this for you Father
father Clifford has saved us
Yo,I hve jus learned a full topic from these qns😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
Thank you Mr. Clifford. You're great. I will subscribe! And like 👍
I have a quiz this Thursday but after watching the elasticity video I feel not blank..thank you 😢🙏and I'm from 2023🥰
Thank you! You're doing amazing. Subscribed and liked... :)
Hello I think you made a mistake in 10:06 ? 20-25/20 x 100 gives -25 hence it's supposed to be -2 and not a positive 2. Hence it should be considered complementary goods. Although I am not really certain but please do check as this is my first year in Economics in gr 11 and I just want to make sure since exam wk is next week. Have a great day!
I am MBA student at LPU with almost no economic background, we started studying micro from the second module it's been almost 2 weeks since we started Its really difficult for me to catch up. But, I understand the concept clearly after watching your videos. You saved me a lot of time thanks.
hey thanks man, hopefully all is great for you im just going to say that you, and my econs teacher, have helped A lot. Transitioning from IB myp to IBDP was hard, especially the gap in difficulty for econs, but your videos have helped alot so thank you for that
Me watching a 6 years ago video in 2024. Thank you, Mr.Clifford
wooooow i just managed to get 100% in my economics test... your videos are just MAJESTICALL
there is technical mistake - question 3. says quantity increase from 10 to 25 and on graph (7:10) you show increase from 10 to 20. Anyway thanks for the video !
how did you get 25%? from 20 to 25 dollars? 20 is 80% of 25. another word increase by 5 should be 20%? cause 5x5=25. and 5 is 1/5 of 25. 20%x5=100%
Your videos are amazing. Thank you so much. You make everything I can't understand in class so easy to learn... this video helped me master elasticity 1 hour before my midterm. THANK YOU!!
I'm so happy I found your channel, your videos are amazing, now I think that i might actually pass my micro-eco class. do you by chance teach marketing and accounting, if you did, that would be awesome. if you dont, do you know of any others on youtube that do, I'm sure it wont be as good as your videos but any help would be great.
This guy is so helpful.....school is very hard for me especially Econ and my teacher is from Russia and is hard to understand and doesn't explain these topics well at all. No need to stress, just learn from Mr.Clifford and you are good!
Me too😅
Mr. Clifford helps me to pass my exam with his videos very helpful ill recommend is channel to anyone who do Economics
HI Jacob, How apple is the substitute of vanilla ice cream. May be due to weather the demand for vanilla ice cream changes ???
yanımda olsam öperdim hocam
if you close me, I kiss you, thnx
you guys i need help. here's the question: A seller expects that when the price is raised by 15%, sales will drop by 13%.
What is the price elasticity of demand, and what will happen to the total revenues?
the price elasticity is .87, but how do i know whether total revenue increases or decreases and how do you know?
x3
TR increase since it is inelastic, sales are just another word for quantity demand i guess
Why the trivialities while we could just use price up price up for complements and quantity up quantity down for substitutes?
Clifford better brush up on the midpoint formula. He got problem 2 and 3 wrong.....
Thank you Mr C
Excellent instruction Jacob...you rock!!!
I love mr. clifford
Thanks a lot🙂u teach really good. I've not got such a complete video before.
I think you made a mistake in question one,by the answer must be relatively inelastic,and not what you conclude. B'se when a price largely increases,the Qd decreases by little.
Thank you so much for your videos sir. I've been struggling with Econ at uni but your videos are actually making it possible for me to help other students understand the content. Great videos👍❤
How would the reduction in airfare impact the elasticity of demand for flights of -1 percent? Which elasticity is impacted in this scenario and how would you interpreter this result? How can we determine the outcome of the uncertain variable? Include example for context
thank you Mr.Jacob Clifford .This video really help me a lot
If their saying that "14 percentage rise in the price of orange juice decreases the quantity of demanded by 20 and increase the quantity of apple juice by 13 percent. the question says calculate price elasticity for orange juice. the other one says calculate the cross elasticity demanded for apple juice. how do i tackle the question?
Please i need a help because i am confused
Sometimes we use the midpoint formula to calculate the price elasticity of demand and sometimes the general formula
When should we use the midpoint and when not because they both give different results
hi! i didn't get the 4th multiple-choice question. can somebody explain, thanks a lot!
Thank you Sir ❤
Mr. Clifford - with all due respect - I think it's time to make an elasticity practice problems video that uses the midpoint method.
Damn it I spent 1 hour trying to find out why I got 2 wrong and got (3) using the midpoint method got me freaked since my Econ course only uses midpoint but now I’m confused
Ultimate Review Packet is fire... especially if you hate taking notes.
Amazing...👍.. mashaAllah!..helped a lottt...tnnxxx a lottt guys!
Watching this in 2022 , I have my ese tomorrow n I'm gonna pass coz of this channel frfr 😩
I'm having good grades in BYU Idaho. Because of this guy.