Cost Curves for Firms
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Uploader Comments (pajholden)
Top Comments
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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
1 year ago 7
Video Responses
All Comments (153)
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Thank you for making this video. It makes a bit more sense now.
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Thumbs up to you and your "silly" analogy. Thanks!
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Amazing, like I drew out the AC and MC curves but never knew why they were like that, great help
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@Lovelyday300 well I do OCR economics F584 transport this month and i think this is in the syllabus but im not entirely sure
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@Lovelyday300 not for edexcel either
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@Lovelyday300 depends what exam board...not for WJEC
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do we need this for AS module one, microeconomics? anyone?!
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@purplegorillaamateur I seriously love you
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I have an important eco test tomorrow and this literally saved my life :)
2 months ago 4
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I'm so glad you post these! They're so helpful and you are a true pedagogue.
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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.
djstud1987 1 year ago
@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.
pajholden 1 year ago 24