Cost Curves for Firms

[NeyoScooter]

Amazing, like I drew out the AC and MC curves but never knew why they were like that, great help

[Lovelyday300]

do we need this for AS module one, microeconomics? anyone?!

[realmusicrealtalent1]

@Lovelyday300 depends what exam board...not for WJEC

[RusNad]

@Lovelyday300 not for edexcel either

[Dam1000Dam1000]

@Lovelyday300 well I do OCR economics F584 transport this month and i think this is in the syllabus but im not entirely sure

[purplegorillaamateur]

I have an important eco test tomorrow and this literally saved my life :)

[purplegorillaamateur]

@purplegorillaamateur I seriously love you

[iciclesify]

I'm so glad you post these! They're so helpful and you are a true pedagogue.

[shwetavinash]

thank you that was very helpful :)

[chistorro12]

Could you please explain why the fixed cost is variable when it is drawn in that function? I've just seen it in my book and makes no sense at all!

[chistorro12]

@chistorro12 sorry, i got it :)

[kawsihen]

very informative for a beginner like me in Business Economics.  Thanks a lot.

[georgetaylor100]

the people analogy was brilliant for explaining why AC intersects MC at the lowest point, my teacher just said it as a given. thanks

[joeysaha]

you're a legend !

my text book is shittttttt

[Ramboo339]

life saver

[mkavita3]

pls explain the curves for ATC.MC,AVC,AFC

[Uchihashate]

thank you so much, perhaps in the next 5-6 years there will be youtube school, so anyone who dont realy like going to normal one, with all it's shits, can enjoy i-net version :)

[tuffy11111]

thanks for this video.  I thought it was funny my professor used the same analogy.

[TheIslandGIL]

Hi I really like your video, but plese how can we reduce a cost of production in a short run?

[abdullahfbi911]

thank you so much

[animejapanime]

T_T I still don't understand some parts of this...

[MakeMeMashedPotatoes]

AMAZZINGGGG thnkyou so much

[Antrikshy]

Your 'silly' analogy of the heights of people was in fact awesome.

[yinyue168]

So origionally, the AC is actually a straight line, but the MC affects it!!! Is there an equation that shows how MC is factored into AC?

And thank you for this. I am cramming for AP Econ tomorrow and this is very helpful.

[PocketJokersdotCom]

@yinyue168 do you know of integration?

basically AC falls as MC starts to meet it and as MC starts to leave it AC is yanked up by it. The AC curve always trys to follow the MC curve.

[foal111]

all hail..!!



[adelaide711]

Thank you teacher all the best for u

[brizingan]

Thank you phil! awesome lecturing

[phinchampagne]

You Are AWESOME！！！

[harsikakasuni]

Need to marry you Be Naughty girls benaughtyman.info

[tyytan]

Thanks, incredibly helpful! Really struggled with this concept in class, but you make it seem so damn easy!

[veselasekuloska]

You helped, thank you! :)

[Jaedke1]

Super...a real help!! KEEP IT UP!!

[VeertjeXD]

mr. sir, thankyou

[PeytonMajor]

Come baby Asian ladies  lushfmlk.info

[bsegura007]

Thank you!

[halfpipe302]

this actually may be 10 times worse than "microeconomics: second period swag"

[liverpoool4lyf]

Great vid from London (Y)

[justinkwl]

This video is what I call the free provision of a good with positive externalities; it's so good that it's being over consumed cause it's free! But what are the costs of making this video? xD

[HarukaOfficial]

@justinkwl

The costs of making this video can be strictly defined by opportunity cost. For instance, the opportunity cost of making this video could be, lying down on a beautiful greek beach and enjoy the warm sun and the sound of the sea. Despite that, the professor chose to decrease his Total Utility and increase ours. Therefore the positive benefits to the society that arise are greater than his own personal negative externalities ... LOOOOL!!!! OMG!!! XD 've been studying for too long XD

[chrisboudreaux]

@HarukaOfficial

You are correct in stating opportunity costs, however, I really doubt he gets disutility from creating these videos. In fact, he most likely gains utility since presumably he is not being forced to create the video by revealed preferences he prefers some bundles with making videos to others without. Also, I don't know what you are referring to his own negative externalities?

[HarukaOfficial]

@chrisboudreaux

Lol man, it was like 3 AM and I was high on economics :P don't expect it to make any sense :P

[ajaypanai]

grt was real easy to understand keep up the good work going.

thanks again.

[faYte0607]

I like your analogy. Can you please explain how the AVC and the AFC pulls the ATC up/down? So basically, in summary, 3 factors will effect the shape of the ATC, and they are: AVC, AFC, and MC?

[ehmonja]

You explained in 6 minutes what my teacher needed a whole 1hr 30 min lesson to explain

and you did it 10x better

bravo sir

[MrOrkon]

Sir your videos are absolutely helpful especially for students like me who study economics through UoL external from Greece.

Thank you..

[olly24681012]

you explain this so much better than my teachers!

[x4617]

i have been watchin ur videos all day long, and i jst dnt knw wat to say!! thnx a lotssssssss

[moxiangnan]

Phil Holden

[djstud1987]

oh ok...that makes sense...I didn't know that...I thought MC reflects the total cost involved in making the next unit...

[djstud1987]

Thanks sir...Maybe it will be a better idea to start the AC and MC at the same point to better understand the concept of AC as initially (i.e. for the first unit )AC = MC.

[pajholden]

@djstud1987 But you are wrong. AC does not equal MC for the first unit produced! The MC will be the variable cost of making the first unit (taking output from 0 to 1). But the AC when output = 1 is equal to the total cost and incorporates all fixed costs.

[KOOPI01]

sir..u greaetly help me in understanding!

[HenkOttoLimburg]

haha, you gave about the same explanation on AC and MC as I do (you might have used IQ instead of length ;-). Of course, being a cyclist as well, I used the Average being the average speed, and the marginal being an extra mile raced.

[LaurindaLugersier]

what I can say...this is great movie...must watchit here

watch R4 last R4 movies . com  ( de lete R4 )

[angelunderwrapy]

thank you!

[clementckw]

THANKS MAN! I NOW GET WHY THE MC CUTS THE AC AT THE MID PT. :D

[rmaccaw]

I LOVE YOU, YOU ARE GOD! raped the exam today.

[jikata1234]

thumbs up

[Diddymow16]

Just did this at school about an hour ago and it went striaght over my head. But after watching this video i'm starting to understand it :) Thanks.

[windekz]

You are a legend. I'm doing my degree from home and have never understood this exact reason.

Thanks!

[randomrainbow17]

FAB!! You should write your own revision guides!

[randomrainbow17]

FAB!! You should write your own revision guides!

[magnonfe1]

Very Good!!!! Your explanations are excellent!!!! Thanks very much!!!

[candycustomer]

REALLY GOOOD, thank you

[flyingasdaboy]

One day when im a billionaire (Hopefully on the forbes top 10 list aswell) Ill pay you back big time for Helping me ! :) Cosider your youtube vids as your pension plan

[XXWxwwxWXX]

fell asleep in class today, thank goodness for youtube

[NAAMAHB]

Thank you! you are allways helpful! Naamah

[malibu71588]

the great mystery of price theory has been explained: why MC bisects the AC at the minimum

[lonewarrior601]

Excellent video!! Thank you so much!! :)

[Shivey1000]

Thank you for explaining this to me...i hadnt a clue before watching this.....:)

[csinclairaz]

Thank you, thank you thank you!!!

[khoshgelak07]

I LOVE YOU!

[EarthTravels]

sexy

[funcode92]

sir, your help is totally necesarry for me to pass my Alevels..thankyou so much

[4192lp]

this is certainly a big help for me in my microecon class. thanks sir!

[jatoi111]

Outstanding...Thanks a lot sir..

[stam1807]

excellent idea of uploading such helpful videos online!congrats

[soniv33]

Thank you for the amazing teaching!

[minaamq]

Nice one sir! Amazing idea u got there regarding heights of ppl! Finally i understood the AC and MC curves

[jayviranirules]

eco 101 test here i come! Thank you sir!

[Rukeh89]

Wow thank you from Australia, I learn more from these online videos then I do from lectures

[stacy1122]

really helpful! thank you!!

[Hau5Kandi]

Ur a wonderful teacher

[KCcandy1973]

awesome...Thank you!

[samtnp]

brilliant thanks!

[wagsalot]

Very helpful (as are all of your videos!) Thankyou very much for posting.

[lyaskoff]

awesome sir! thanks a lot

[sunilrajmba]

dear sir;

presentation is realy gnarly. black board presentation from scrach is well attractive...  sunil from kingdom of bahrain

[sunilrajmba]

dear sir;

realy appeciatable thing , the way of explannation and simlicity. best and regds sunil from bahrain

[ttzopa]

Prof. Holden.

Thank your for your videos, please keep making more of this kind. What you teach in 5 min. is 2 hours in my classroom and i yet dont get it. With you is so simple. It would be great if you start implementing economics with real current events!

[keroz84]

its is simple like that,?? OMG .... you r kidding me. i tot it complex as my reference .. maybe in future u can explain i maths way .. of marginal cost

[sageGRX20]

omg... r u kidding me..!? you just summed up an entire chapter in my IB economics book! even more important, i actually get it now! u r an amazing teacher!!! thanks heaps mate

[harshabio5055]

Thank you very much...u R a GENIUS!!

[Georgetrooley]

The analogy definitely isn't silly, it is sheer didactic genius.

[fiqqyass]

i dont think my lecturer would be able to come up with such an analogy even if she watched mr phil's videos!

[luke2468013579]

HELLO AGAIN...hahaha, classic, hey thanks allot for the vids, they really are a big help especiall when i have allot of reading before

[TRSAdiro]

Thank you so much for those great videos. I am actually preparing strongly for my finals at a german university and you help me so much right now!

[EzE3000]

GREAT!!!

[mariani08]

you are the greatest, thank you soooo much.

[googlejerry]

thank you VERY much

[sysk07]

better then my lecturer!! thanks a bunch!

[OBI0131]

why all the good tutorials are on YouTube instead of in the class that we pay for

[londonliner]

exactly!

[jkugez]

@OBI0131 cause governments are in your classrooms and private individuals are on youtube :)

[OBI0131]

@jkugez wow I left a comment here a year ago, and I ended up with an A thanks to tutorials on the Internet.

[jkugez]

@OBI0131 congrats! :)

[KOOPI01]

@OBI0131 wow

[ImagineTheWorld100]

@OBI0131

Because the best things are always for free!

[10000maj]

@OBI0131 u should pay to u tube .heheheheehe nd take ur money back from coleg

[jodiebuzzybee]

oh my god these are so helpful thankyou!!

[myanlee87]

you're the best Mr Holden.. a legend indeed haha

[ELKINIL]

The best economy video on youtube are done by you ;)

I admit , You have a sense of a teacher....really talented :D

[laughingjal]

oh goodness...i never understood these concepts so well....Thanks a zillion!!! i've fallen in love with economics after watching these videos!!!!

[cm221975]

Simple, yet informative! I am currently taking an MBA course and this was a great refresher! Thank you!

[Kachaloo]

Thanks a world. You have no clue how much you have helped me.

[NA20W03AF]

greatest lecture ever

i wish u teaching me instead of the paki professor

[BabyLicious109]

Thank you soo much!

[foal111]

Many many thanks for the amazing lecture..!

Is videos like these which make the understanding so much better..

Please keep up the amazing work Sir..

[tigercat00]

Thank you so much! I think my future test grade just increased. Thanks for making this videos and posting them on youtube.

[cri8tor]

We need to press student government to call for "Webcast" of lectures at the UC's. I understand these and other concepts, such as physics, so much better after watching these post.

Thank you so much and thank YouTube.

[E3tiger]

Thanks alot! Your videos really clarify these concepts for me. My text book doesn't explain why the curves are the shape they are.

[msalih90]

thanks mate, really understand it :)

[faheemzaidi]

now i think i get the best teacher of economics 100% clear concept thank u sir

[ajtvonline]

this is the night before CFA and you have cleared so many of my concepts...wow

[wildviper]

Thanks. You explain things in a good way. More videos please.

[eedddsss]

thanks alot ur a good teacher...university student in Jamaica

[gillygilfoyle1973]

Well explained!

[OllieWheats]

well in! the totally sorted my head out :)

[bza187]

Thank you so much Phil. You're an amazing teacher!

[frankfires89]

Thank you so much. One suggestion, use current real life examples to illustrate cost curves and economics in general. :)

[ImAllForBelieving]

Thank you so much. I have watched almost all of your videos and they are a great help! Your a legend!!!

(From High School Student in New Zealand)

[therealshard]

you're an EXCELLENT teacher, thank you SO much.

[themaharahj]

Thank you for reinforcing the concepts. Your analogy was GREAT !

[RLa0209]

I have a test on this coming up soon and before watching this video I was completly baffled... not anymore thx to your video.

[NWLondon]

ledgend

[kisumu89]

thanks! :D

[teefunk3]

* cost curves

[teefunk3]

Im taking economics at A level and my teacher seems slow and boring, which makes me lose focus and not pick things up. Id just like to say after nearly 2 weeks of trying to get it into my head, you have explained cost so well i finally understand it, thank you very much, i only wish id have found your videos last year!

[sumitsinh]

You Rock............. Thanks thanks and Thanks for this!!!

All your videos rock, are simple and makes sense!! Very easy , great effort .. Thanks for doing this... and helping us...

Thanks... Please , keep rocking and post more!

[Poseidon143]

Thank God for people like you man.. V

[rufnek2k]

Thanks :D

[Cat0000001]

clear as a bell...

[Solid88]

Your videos are great, all I have to say is.

YOU ARE LEGEND!

Thanks a lot!

[bigeid33]

thanks for this

\

[toriredtori]

You have just made my life easier!! I'm studying economics externally (via correspondance), so don't attend lectures. Watching your videos complements what I am reading in my text and helps it make sense. THANK-YOU.

[camilleferrandez]

You ROCK!