- market participants are not informed. the claim that they are is just silly because perfect information is impossible.
- ecological values (the foundation of all markets) are ignored entirely. as long as scarecity is not popping up on the market, ressources are considered infinite.
- markets are driven by sentiment and not by reason.
this is great material. it binds together all the concepts i have learned and summarises it very well. i especially like the numerical explanation of why the demand and MR curves always positioned like that (for a monopolist).
Is the marginal revenue always the integral of the demand function? In this example, the demand function is 11-X and the marginal revenue function is 11x-x^2.
MR is not the integral of the demand function, with monopoly the D function = AR, so MR is the derivative of the revenue function, which will be 11-2x in this example.
ooooomigosh thank goodness for these videos! i am about to teach myself a semester worth of econ! my prof goes way too slow and is boring and doesn't speak English well....the subject matter is relatively easy to comprehend I just COULDN'T go to that class! yay!youtube! i'll post my grade later! :D
MBA = useless degree. These graphs are complete stupidity.
What about 1. Production capacity 2. Monopoly desire
Just my opinion
mba2ceo 9 months ago
- market participants are not informed. the claim that they are is just silly because perfect information is impossible.
- ecological values (the foundation of all markets) are ignored entirely. as long as scarecity is not popping up on the market, ressources are considered infinite.
- markets are driven by sentiment and not by reason.
MillyVanillification 1 year ago
thank you so much!!!!!!!!!! :D
krispykremerocks 1 year ago
i love how all economists have bad dotted lines. great videos, and thanks alot, really helped with my study.
westaux999 1 year ago
this is great material. it binds together all the concepts i have learned and summarises it very well. i especially like the numerical explanation of why the demand and MR curves always positioned like that (for a monopolist).
wizzlesticks 2 years ago 2
Is the marginal revenue always the integral of the demand function? In this example, the demand function is 11-X and the marginal revenue function is 11x-x^2.
zhongguohua88 2 years ago
MR is not the integral of the demand function, with monopoly the D function = AR, so MR is the derivative of the revenue function, which will be 11-2x in this example.
DB1815 2 years ago
ooooomigosh thank goodness for these videos! i am about to teach myself a semester worth of econ! my prof goes way too slow and is boring and doesn't speak English well....the subject matter is relatively easy to comprehend I just COULDN'T go to that class! yay!youtube! i'll post my grade later! :D
tmoxiegrrrl 2 years ago 2
this is kickass
Mediterraneanblue9 3 years ago
Thank you. The book is also great. I strongly recommend it for everyone interested in learning economics without the mumbo jumbo of many textbooks.
augana 3 years ago
These are so good!
grumour 3 years ago
mckenzie saved my finals and my vacations!
tonygordo 3 years ago