Is there a burp in the background at 2:30

@tutor2u-official

5 жыл бұрын

Possibly - all part of keeping Economics real

@1RAGEACE

5 жыл бұрын

@@tutor2u-official total disregard to the deep consequences of this burp. A deep information failure has happened here as a consequence of the consumption of food. The consumer failed to realise that the food he ate made him burp, contributing to the carbon dioxide level in the atmosphere, leading to adverse effects on the natural balance, potentially leading to global warming. Sea levels rise as a result of the polar ice caps melting, this leads to the government making an opportunity cost on whether to spend taxpayers money on improving education to teach people to stop burping or invest in seaside flood defences.

@tutor2u-official

5 жыл бұрын

All I can do is apologise! 130+ videos in five weeks has left me with a structural burping problem which is a public bad and requires government intervention

@1RAGEACE

5 жыл бұрын

​@@tutor2u-official Rate the grind though, really increasing your market share via high production. This could lead to increased supernormal profits to you, which could allow you to innovate and perform conglomerate integration into the exam board business with such competitors such as Edexcel and AQA, this will ensure that you can gain extra supernormal profit, which could potentially be used to satisfy shareholders, or act as a reward for your entrepreneurship, buying you a holiday to Ibiza! However, this depends if there is a high enough incentive for you to integrate, as there could be expensive start-up costs, e.g employment of people to write your new specification. This may deter you, a smaller firm from entering the market, allowing incumbents to maintain their market share. However, the fact that Tutor2u is a niche firm allows it to specialise on key subjects areas such as Economics, Business and Sociology. This could allow them to benefit from EOS when conglomerating into the exam board business. Hence making it worthwhile in the long-run despite the barriers to entry.

What are the differences between perfect competition and contestable markets? And also what graph would i show for contestable markets? A monopoly diagram however the efficiency gains of allocative efficiency?

@tutor2u-official

5 жыл бұрын

I'll do a quick video on this early this evening

@kristian837

5 жыл бұрын

tutor2u PERFECT! Thank you so much.

@tutor2u-official

5 жыл бұрын

Now up on the channel - hope it helps!