The Short Run versus The Long Run

This video outlines the economic distinction between the short run and the long run.
For more information and a complete listing of videos and online articles by topic or textbook chapter, see www.economistsdoitwithmodels.c...
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By Jodi Beggs - Economists Do It With Models
www.economistsdoitwithmodels.com
Facebook: / economistsdoitwithmodels
Twitter: / jodiecongirl
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[@rhemahhall6768]

got an econ final tomorrow wish me luck

[@sugun1993]

how was the exam, anyway?

[@bobshoaunng2038]

me too brother

[@blueforlife7863]

How was ur exam?

[@deathstroke8639]

How was college?

[@cybpiano2559]

5 years after, i am having a final tomorrow too.

[@SandraAnnEvans]

You have done a great and very clear presentation of these concepts. You have helped me better understand . . . THANKS!

[@tenorsaxgal]

Thanks! Very clear and understandable explanation of short run and long run. The textbook gave me about a line on each and it is not enough for me to understand! Subscribed :)

[@RubenGonzalezLeal]

I thought I hated economics, till I found you... You are great!

[@Paul-ih1vz]

I have been searching far and wide and this is the closest I have come to clearly understanding the difference between Short-Run & Long-Run. What did it for me was the explanation of the Short-Run with regards to the example of the firm having a fixed cost/sunk cost of a lease, BUT, what I don't quite understand is in the Short-Run, why the firm shuts down if P

[@tshirthero3305]

A) You are my new hero.
B) I want that shirt.

[@BeezyB777]

Jodie,thanks for your video! You make it easy for me to understand!

[@ArefinDipto]

Suggestion for u. If u r using premere and auditions, open clip in auditions select the background noise part then go to adaptive noise remover. That should remove most of the background static.

[@jipsy8]

You´re totally awesome. This helped me a lot. Greetings from Portugal! x)

[@CelesteHowe]

Hi Jodi,
thanks for the video....and I love you logo...great imagery!

[@miyalatef2113]

Woah .. Excellent! I like economics even more now!

[@senlong5715]

very clear and very helpful my current study and help me.to understand this point, thank so much!

[@AbrasionUK]

Very clear and concise. Thank you.

[@mohanganeshkumar8798]

Well Explained Jodie! Very comprehensive..Thank You!
So you now have a student from India too!

[@akshatshxrma]

+1

[@ashoshea3159]

Thank you! Very easy to understand :)

[@gmcnulty3]

i thought I hated economics, then this sealed the deal!

[@lobsterlover12]

because of the girl?

[@Ajeethpeo]

So this confirmed that you hate econ? :D

[@jangirboysourabh5026]

Studying abroad 😂 by this channel

[@chess4640]

you and your teaching skill are beautiful

[@majidtan4084]

Thank you miss. Your teaching is beautiful

[@rojo_buffalo]

This was helpful, thank you!

[@newtowon]

Great Vid. Thanks for making it digestible!

[@sreekarroy3082]

Hi there, can you please let me know if demand for electricity is elastic or in-elastics in long run?

[@sachidanandtripura5723]

Tnk u mam for explaination in detail...upload more video to need diffrent concept of economic....

[@kylejulius9596]

Finally! It makes sense, thanks so much!, where can I buy a shirt btw?

[@toothfairy4883]

Can someone please explain this to me?
In the long run, economic profit for firms (assuming they are identical) will reach 0. However, I don't understand why P=ATC in the long run because if that is the case, the firms are making 0 accounting profit. Accounting profit and economic profit are 2 entirely different concepts, isn't she confusing the two?

[@essilfiesamuel5419]

U guys are really doing a gr8 job

[@mediocredee1909]

Now I understand what's the difference between long run and short run. Thank you. ;)

[@serahdeadsong3106]

Very helpful. Thanks!

[@jesusosegueda1699]

You make it so easy!

[@mangoesgonewild]

Thanks for the vid!

[@alyafey69]

Thank you very much!!! you really really helped me :)

[@elzixd]

Thank you! This has been really helpful, and hopefully will be useful for my next economics test. :)

[@chandana3883]

hey, its been 7 years. how are u doing

[@80ccDz90]

Hey it’s been 10 years how ya doin

[@felipeesparza4913]

ahhhh that shirt is awesome

[@MrUsidd]

Noiceeeee :')
Fast and simple explanation :)
More power to you.

[@mccorrypatrick1]

That helped! Thank you

[@benjaminabraham3506]

How many of u are reading the comments instead of listening to her lecture☝️

[@johnwiggins3950]

you are. that is one of us!

[@jerryramos1]

great help! Thanks

[@xKeViN12]

It is because the fixed costs are paid no matter what. Therefore the firm only looks at the variable costs when trying to determine whether or not to shut down. Ex. if fixed cost is 5 dollars, variable cost is 3 dollars, and profit is 7 dollars, the firm would not shut down because P>AVC. The firm has to pay the 5 dollars anyway because it is a sunk cost, so they are only losing a dollar because ATC is 8 dollars. If they shut down, they lose 5 dollars because of the fixed cost.

[@aldrizafariq7005]

So we can make the assumption that in the long-run production economic profit are equal to zero, why firms stay in the market even though their economic profit equal to zero? anyone can help?

[@surananda]

Very helpful ...Thanks .

[@jodiecongirl]

Thanks, and you are very welcome! Stay tuned for a bunch more coming out.

[@JericDacara]

This is Perfect Competition

[@superduperdil]

Thanks for the explanation. The E-Text wasn't very thorough, so having someone explain it was great!

[@tesfayyifter6804]

this is for which Grade sis and Thanks

[@AliHassan-pe5qf]

Plzzz simon ki theory bta dain shortrun and long run consumption function

[@ogeebashirarushdi5634]

You are excellent sir

[@nicholstesla4914]

Thank you

[@ankursggbrsavadikar4188]

Hey great video but I advise you to have subtitles cause I'm from India and sometimes it gets difficult to follow the accent.

[@dattadogman9327]

Gawar

[@unclenattydread5828]

I want a piece of that action. Economic profit that is.

[@zuhaibazad1253]

Thanks mame for understanding to me

[@CynthiaLouann]

FINALLY MAKES SENSE

[@diontaedaughtry974]

Fantastic

[@junesherwood1260]

Are you saying "price" instead of "profit"? For example: P

[@owenlum101]

it's Price :)

[@matthewgray659]

Nice shirt

[@MrZacsim]

slight bit more enthusiasm needed

[@paulswann9135]

way better than my economics class.

[@ismailxxx6632]

Paul Swann ikr

[@gule41018]

can u take the test for me tomorrow..

[@Harpreetsingh-pk2nt]

Thank you mam😇🤗

[@sandhdz4]

in a perfectly competitive market and a long run equilibrium a firm will earn how much pure profit? ... anyone

[@vaibhav3874]

zero economic profit :) hope this helps (ik, only 4 years late).

[@strats1590]

Shirt is goated

[@hannahjiang8889]

Great !!!!!!!!!!!

[@TACC5]

want a piece of this action?

[@superonline99]

Where can i get this shirt?

[@tarkang657]

ok

[@kyleygregg2420]

Anyone else DEAD when she got a lil hood & said "they wanna get a piece of that action." LMFAOOOO

[@Krisssss_21]

Love from India 🤘

[@khanu1731]

Thanks help full madam

[@NatsFan18]

The actual reason I searched this topic would be easier to focus on if she wasn't so pretty haha

[@volkancanbolat5521]

My visa was 96 but final is scaring the shit out me

[@AllAboutJailbreak]

I think economists do it with models..

[@ibrahimalbalushi6105]

hello
how are you?
I'm asking for email address to ask you some question in economic

[@jubzahm4740]

all cost are not avoidable but are variable i think

[@sarthakgoyal6047]

I am a science student don't know a thing about economics but i don't know what i am doing here 😍

[@satyendra6587]

You're a simp!

[@amirloneofficial4778]

mam plz discuss about multiplayer

[@sufiyan_8504]

0:01 is it only my mind🗿👀??

[@phajej1993]

u are incredible my lady..and ur very very beautiful i wish u the best in life

[@arnabgorai6746]

I love you

[@charlied8069]

Please wear a mask, winter jacket, and use a voice synthesizer. I find that I have to watch your videos 3 or 4 times because I start thinking about your curves. However, they are very helpful if I can turn my inner man off and focus. It is your videos that are getting me through my classes. My professor is nice but she loses her train of thought all of the time and is hard to follow. Thank you very much! Oh and BTW, I want to marry you. Haha lol!! No serious!!!

[@_Rafiki.]

Oh... Nothing about running here. Still stayed for the whole lesson though. #AccidentalStudent

[@sanjaybansal4950]

plz.hindi me explain kriye

[@gachiismanly6412]

STFU assole.

[@MKCWB]

انتي يبغالك زط

[@crownoverdavid]

I honestly thought she was gonna talk about running

[@tractorfan19]

and this is what happens when you dont go to class

[@bonnogeerse297]

She surely maximizes my utility...

[@riteshbhardwaj8820]

2020 corona time

[@Itshimitshim]

thanks baby.

[@JonathanBrizuela]

WOW thats hilarious!

[@dagmawittarekegn2957]

That was an awesome teaching but you could smile a bit more

[@18steps]

i'll pay u with compliments..:)

[@DevilMG]

Am I the only one getting distracted and staring at her face???

[@hawwamaaee1397]

Voice is too low

[@S.OLABI.]

bro it is 10 years ago

[@hawwamaaee1397]

@@S.OLABI. so ??

[@S.OLABI.]

@@hawwamaaee1397 good that she even could upload that 10 years ago , and u want her to adjust the voice also!!

[@hawwamaaee1397]

@@S.OLABI. yeah so ??

[@marko384]

Awful

[@tusharmoradiya5743]

Thank you