Episode 27: Monopoly

[DailyFlux]

this video is the basis of my video report

[diegonowasha]

:d ur better than my economics teacher

[xxprincesszeexx]

Exam on Monday and this is my #1 revision tool

Thanks so much!

[princessrandumx]

This is absolutely brilliant, thank you so, so much.

[monica125136]

So useful!

[godzilligan]

a happy monopolist indeed 5:10

[taninthebrwngirl16]

U ARE THE BESTTTTTTTTTTTTTTTTTTTTTTT

[taninthebrwngirl16]

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[taninthebrwngirl16]

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[taninthebrwngirl16]

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[TheMerrianovia]

i lov you !

[dollyfacegirl]

Better than my prof!!! Keep up the good work!!!!

[frederikamris]

Hmm, there's something with the way that you illustrate the monopolist firms supply curve that bothers me. I mean, the supply curve illustrates how much firms wants to produce, at a given price. The way i see it, this is irrelevant when talking about the monopoly since he is deciding the price? Could you clarify this please? Thanks for a great video by the way.

[seanbro33]

your teaching is pretty good but i guess im just not good for economics that even what you say i dont understand :<

[krishnapraveen777]

u r awesome

[GenryHale]

Really nice explanation. I tried a similar video in a more visual way. Watch it if you want. Thumbs up.

[acsoulv]

why is the marginal cost = supply? i dont geddit :((

[vegehater]

Hi how about long run supply curve for a monopoly? I'm reading an English economics book but it's very confusing...

[katrinaleesg]

can you produce more monopoly videos with more details ? please please please ! because i only understand your videos and not my lecturer :( so please help me ! thank you !

[mjmfoodie]

@katrinaleesg Not sure what other details you are after...?

[katrinaleesg]

@mjmfoodie could you please explain more about the curves part ? please ! thank you !

[sanjog2015]

these videos are very helpful thanks to your initiative..... i learned a lot from this video

[milh467]

at 3:10 most people put a dash for the first MR as there is no previous. What should I do on the test?

[mjmfoodie]

@milh467 Most charts like this actually have zero as the starting quantity, in which case I haven't started selling anything yet, so I can't talk about added revenue yet (hence the dash).

In this video, I start with the very first unit sold, so previously (at zero units sold) there was $0 of revenue, and I can figure out how much the very first unit added (this wouldn't have worked with any quantity except the first unit).

[sike64]

you are god, this helped me so much for my Micro exam

[DannyMcCabe1991]

Extremely informative, easy to follow, concise diagrams. I have an exam tomorrow this is just what i need. Fantastic!!!!!!

[baresolid]

I'm English, so I am afraid I'm fairly ignorant when it comes to North American voices, but... is that a Canadian accent I hear? It sounds delightful!

[mjmfoodie]

@baresolid Close - I was raised in upstate New York (a separate universe from New York City), so Canada was only a few hours drive away...

[Cheedillow]

HAHAHAHA I DID NO WORK ALL YEAR AND THANKS TO YOU I'LL PASS

[andtalie]

your videos are great, thanks a million!!!! Whatever happened to the oligopoly one though??? thanks!!

[nehasaini1111]

ur videos just rocks

thank u so much.......

[udoit123]

OMG these videos are like a gold mine, i learn something and I don't fall asleep

[TheWorldIsRound2012]

you were born to teach! i love your videos!! thank you :)

[mrpunkrocker565]

Wow! You are awesome. This would take 50min to explain in a class room. Thanks!

[EatLotsOfCurry]

I was searching for microeconomics videos and your's looked the coolest with the cartoons. Pair that with your pleasant voice and I'm retaining more than I would have in class. Thak you for making these videos!!!!!

[kiryana100]

cant hear a single word.....audio is bad... i wonder if it even does have or not .....

[ihatefoodies]

i have a monopoly...on your mom!!! But seriously i do.

[mjmfoodie]

In the US... although I grew up close to Canada!

[armbrost]

I have used two of your videos as introduction to new topics in economics for IB-students. I find them very useful. Thanks

[hubbzee]

what school do you teach at?

I am currently attending the university of western Ontario and although my professors seem to be highly educated their teaching skills are mediocre at best compared to yours!

[mjmfoodie]

@hubbzee I know I shouldn't make generalizations, but I've observed that universities often emphasize research, while community colleges emphasize teaching.

[stenom70]

Love your simple delivery of Economics. Only two guys worth watching here.. and its hard to choose between the two of you.. So l enjoy both..

Keep it up!

[devildemonsaintluke]

A good video. Thanks.

However, I am not sure if it is right to say that the Marginal Cost curve of the monopoly corresponds to its supply curve, given that the supply curve of a firm is supposed to show a function between the price and quantity supplied. In the case of a monopoly, the firm may not neccesary change output given a change in price.

Wouldn't it be more accurate to call the MC curve the hypothetical PC supply curve?

[jphilp64]

These videos have been a great tool to revise for my exams- you explain everything so clearly!

[iisnain]

brilliant..:) thanks

[icyhielaton]

hey! excellent videos!

so when do you think the other videos will be ready?

thanks !

[cinoue]

This is very helpful. Thank you

[kroniton]

I'm on my way to my micro final! This video is awesome and definitely helped me. Thank you!

[EdiiiRiv]

God I wish All my professor could explain things this easy Thank U, Thank U very much.

[sperdoj]

I honestly don't understand why your videos are rated less than 5 stars. I thought that meant that your explanation was off or incorrect, but this is bang on! Thanks

[mjmfoodie]

@sperdoj That's very kind ... thanks!

[Izz0the0man]

unbelievable ... you are THE BEST.

Thank you so much.

[opap1000]

Your videos make teaching and learning Economics TRULY ENJOYABLE. You should have your own Channel in You Tube.

[24Keshan]

Thanks so much....fantastic video. Just one question.....in the last part you say that MC curve is the monopolists supply.....how does that possible? Can you explain that please?

[mjmfoodie]

That's particularly for the part where I'm comparing the monopoly to the competitive market; in the perfect competition model, it's the MC curve that shows the quantities supplied at each price level, so in the end, the MC curve ends up tracing out the firm's supply.

[24Keshan]

Thanks once again for your reply. You have been very kind in uploading all these videos for the benefit of others. I have been following the series with much interest. However, I couldnt find Episodes 29 & 30, and 35 and beyond. I seriously hope that you havent stopped uploading. Pls do upload these if possible. Thanks

[mjmfoodie]

No; there are about 5 videos that I had planned in my original outline that I have not completed yet (those are 3 of them).

[24Keshan]

Thanks for the reply. and why have you stopped with Episode 34? Will the rest (35 onwards) be added later?

[mjmfoodie]

Ummm - time? The series I had outlined for myself to cover the 2 principles courses has 35 episodes each (with some overlap). Once I get those done, I'll go back and see what gaps I may have left that need to be filled.

[lynx83628]

thanks for the video :)

hey timoky

[wayshow4]

omg you're so much better than my teacher

[nosrettep]

@wayshow4

me too

[viniciusferreira11]

You're the best! I'm really happy that I've found your videos. Thank you! Really!

[peh1696]

Thanks!!