TheOtherCarla's channel
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TheOtherCarla
added to a playlist
3 days ago
Fixed, Variable, and Marginal Cost.
Thinking about average fixed, variable and marginal cost
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Types of Indifference Curves
Indifference curves for normal goods, substitutes and perfect complements
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Depreciation and Opportunity Cost of Capital
How to account for things when you own the building instead of renting it
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Economic Profit vs Accounting Profit
Difference between a firm's accounting and economic profit
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Monopolist Optimizing Price (part 1)- Total Revenue.
Starting to think about how a monopolist would rationally optimize profits
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Optimal Point on Budget Line
Using indifference curves to think about the point on the budget line that maximizes total utility
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Visualizing Average Costs and Marginal Costs as Slope
Graphing variable cost, fixed cost and total cost
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Marginal Cost and Average Total Cost
Looking at marginal and average total cost in the context of a juice business
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TheOtherCarla
added to a playlist
3 days ago
Perfect Competition
Conditions for perfect competition. Looking at the airline industry
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Long Term Supply Curve and Economic Profit
Understanding the long term supply curve in terms of economic profit
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Marginal Revenue and Marginal Cost
Thinking about a rational quantity of juice to produce
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Marginal Revenue Below Average Total Cost
Why it is rational to produce at a loss
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Monopoly Basics
Thinking about what would happen with one airline. The opposite of perfect competition
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Consumer Surplus Introduction
Consumer surplus as difference between marginal benefit and price paid
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More on Total Revenue and Elasticity
Clarification on the relationship between total revenue and elasticity
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Price Elasticity of Demand
Introduction to price elasticity of demand
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TheOtherCarla
added to a playlist
3 days ago
Normal and Inferior Goods
How the demand for some goods could actually go down if incomes go up
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Rent Control and Deadweight Loss
How instituting a price ceiling lower than the equilibrium price reduces the total surplus (dead weight loss)
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Inferior Goods Clarification
More clarification on inferior and normal goods
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Equalizing Marginal Utility per Dollar Spent
Why the marginal utility for dollar spent should be theoritically equal for the last increment of either good purchased
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Price of Related Products and Demand
How changes in the price of related goods can shift demand
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Demand Curve as Marginal Benefit Curve
Thinking about a demand curve in terms of quantity driving price
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Producer Surplus
Looking at the supply curve as an opportunity cost curve. Understanding the producer surplus as the area between the supply curve and the market p...
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Law of Supply
Introduction to the Law of Supply
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TheOtherCarla
added to a playlist
3 days ago
Constant Unit Elasticity
What a demand curve with constant unit elasticity would look like
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Changes in Market Equilibrium
How the equilibrium price or quantity might change due to changes in supply or demand
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Law of Demand
Example of the law of demand
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Total Consumer Surplus as Area
Looking at consumer surplus as area between the demand curve and the market price
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Market Equilibrium
Equilibrium price and quantity for supply and demand
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Changes in Income, Population, or Preferences
How demand can be effected by changes in income, population or preferences
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Percentage Tax on Hamburgers
What would happen if we have a percentage tax instead of a fixed dollar amount
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Factors Affecting Supply
How the price of inputs, price of related goods, number of suppliers technology, and expected future prices affects the supply curve
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TheOtherCarla
added to a playlist
3 days ago
Total Revenue and Elasticity
Thinking about how total revenue and elasticity are related
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Marginal Utility
Marginal utility and marginal benefit. How you would spend $5 on chocolate and fruit
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Cross Elasticity of Demand
Price of one good effecting quantity demanded of another
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Taxation and Dead Weight Loss
The effect of taxation on the equilibrium price and quantity
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Elasticity of Supply
Thinking about elasticity of supply
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Perfect Inelasticity and Perfect Elasticity of Demand
Extreme examples of price elasticity of demand
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Minimum Wage and Price Floors
How a minimum wage might effect the labor market
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Deriving Demand Curve from Tweaking Marginal Utility per Dollar
Seeing what happens to quantity demanded when price changes
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TheOtherCarla
added to a playlist
3 days ago
More on Elasticity of Demand
Looking a bit deeper at why elasticity changes despite having a linear demand curve
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Taxes and Perfectly Inelastic Demand
Who bears the burden for the taxes when demand is inelastic
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Taxes and Perfectly Elastic Demand
Who bears the burden for a tax on a good with perfectly elastic demand
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Budget Line
What I can buy with my income
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Opportunity Cost
Opportunity cost (and marginal cost) based on the PPF
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Allocative Efficiency and Marginal Benefit
Marginal Utility and maximization
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Comparative Advantage and Absolute Advantage
Showing that a party benefits from trade as long as there is a comparative advantage (and not necessarily an absolute advantage)
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Increasing Opportunity Cost
Why the opportunity cost may increase as you pursue more rabbits
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TheOtherCarla
added to a playlist
3 days ago
Economic Growth through Investment
How investing for capital formation can expand the production possibilities frontier (PPF)
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Comparative Advantage Specialization and Gains from Trade
How two parties can get better outcomes by specializing in their comparative advantage and trading
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About TheOtherCarla's channel