Demand for Labour - Marginal Revenue Product (MRP)

Demand Curve for Labour - Marginal Revenue Product (MRP). A video covering the Demand Curve for Labour - Marginal Revenue Product (MRP)
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  • @stingroemk1
    @stingroemk17 жыл бұрын

    Your content and quality is far superior to Tutor2u's economics videos; as well as more interesting. So thank you for taking your time to record these videos.

  • @Sorrocasharked

    @Sorrocasharked

    3 жыл бұрын

    tutor2u puts me to sleep

  • @MitchTalbotVlogs

    @MitchTalbotVlogs

    3 жыл бұрын

    Tutor2u is absolute garbage. Covers in 25 minute videos what EconplusDal does in a few minutes. Idk how teachers still rely upon it so much :/

  • @umarhc

    @umarhc

    2 жыл бұрын

    @@Sorrocasharked so dry fr

  • @AbdulRehman-wn8nr
    @AbdulRehman-wn8nr6 жыл бұрын

    Got an A in CIE A level Economics! Thank you a lot!! You helped me in many ways!

  • @sayonilahiri776
    @sayonilahiri7765 жыл бұрын

    You're one of a kind. Thank you for being so selfless and uploading good content free of cost, mate :)

  • @UmarDoesEconomics
    @UmarDoesEconomics8 ай бұрын

    an easy way I understood this was : firms will only demand workers if they make money by employing them / if they add to a firms revenue more than they add to costs

  • @Jamiejamiehamie

    @Jamiejamiehamie

    2 ай бұрын

    Good way of explaining the concept for anyone who doesn’t understand 🔥

  • @issajess
    @issajess8 жыл бұрын

    Just in time before exams starts! You are a life saver!!!

  • @shannonwilliams9116

    @shannonwilliams9116

    8 жыл бұрын

    Agreed!

  • @suyashbapna9820

    @suyashbapna9820

    6 жыл бұрын

    So trueee! My exam is next morning....

  • @abdirahmanmumin

    @abdirahmanmumin

    Жыл бұрын

    @@suyashbapna9820 what did u get

  • @Kmilushev
    @Kmilushev3 ай бұрын

    I LOVE YOU ECONPLUSDAL

  • @dhaqabk4022
    @dhaqabk40223 жыл бұрын

    You are awesome my dude. Thank you for taking the time to create and share these.

  • @dalkeiththomas9352
    @dalkeiththomas93526 жыл бұрын

    Bro thank you so much, you are a life saver

  • @vidusheeofficial1954
    @vidusheeofficial19544 жыл бұрын

    Sir I don't know how to thank you enough... Really your videos are of great help during this period of lockdown.. I'm able to finish my revision notes for CIE A level Oct/Nov 2020 series.....Thank you sooooooooooo much. 🙏❤️

  • @korhanuluduz4982
    @korhanuluduz49826 жыл бұрын

    Great explanations for all the concepts! Thank you very much.

  • @samzana2
    @samzana28 жыл бұрын

    Great video - very clear and well explained. Thank you Sir

  • @Jay_Blvck
    @Jay_Blvck4 жыл бұрын

    I like your work. This video has just helped me better understand the concept of MRP. Please do continue with your amazing work.

  • @lindairiza4221
    @lindairiza42217 жыл бұрын

    my exam is in two hours and i think you've just saved my life, thank you!

  • @21221sara
    @21221sara7 жыл бұрын

    thanks for making these amazing videos!

  • @hughhw
    @hughhw4 жыл бұрын

    Amazing video, made things so clear for me, thank you so much

  • @palak8423
    @palak84234 жыл бұрын

    Great simplified explanation!

  • @delphinelouise6403
    @delphinelouise64037 жыл бұрын

    thank you so much. made my life easier.

  • @oneinabillion654
    @oneinabillion6544 жыл бұрын

    To me, u are my source to recap why D=MRP even after years

  • @wizardgal1
    @wizardgal18 жыл бұрын

    thank you for this! I hope you can cover monopsony, trade unions and government roles (ie minimum and maximum wage) in the labour market in your later videos as well, Thanks lot :)

  • @suzanarashid4876
    @suzanarashid48766 жыл бұрын

    life saver! thanks a lot!

  • @happymeal828
    @happymeal8284 ай бұрын

    your videos are really helpful. thank you so much!

  • @austinwachira5185
    @austinwachira5185 Жыл бұрын

    You smashed it with this one! Thanks a lot Dal!

  • @stephenmaina9829

    @stephenmaina9829

    Жыл бұрын

    Onawe wi gúku😂😂

  • @biancaluximon
    @biancaluximon4 жыл бұрын

    Thank you so much for your help of making me understand MRP which I was having some issues

  • @TheresasWelt
    @TheresasWelt6 жыл бұрын

    You saved my life!!!

  • @patriotindian7726
    @patriotindian77265 жыл бұрын

    perfectly explained!

  • @kishansuthar5734
    @kishansuthar57347 жыл бұрын

    ur the best for exams

  • @yaqubhussain2361
    @yaqubhussain23614 жыл бұрын

    wallahi i love this guy uno

  • @mr1nyc
    @mr1nyc6 жыл бұрын

    Great video series.

  • @melondalucy
    @melondalucy4 жыл бұрын

    Thank you so much this was very helpful

  • @badooral-holibi2281
    @badooral-holibi22815 жыл бұрын

    thaaaaaaanks form KSA

  • @naziyosufi8281
    @naziyosufi82817 жыл бұрын

    it was very useful for me. thank you

  • @just_for_it6359
    @just_for_it6359 Жыл бұрын

    good teacher love from china❤

  • @commercehub3608
    @commercehub36085 жыл бұрын

    Thank you so much sir

  • @mijerezimba8727
    @mijerezimba87273 жыл бұрын

    thank you very much this is helpful

  • @andreagerman242
    @andreagerman2426 жыл бұрын

    High quality video

  • @keefertsang1156
    @keefertsang11566 жыл бұрын

    such a legend :)))

  • @nibhanbaig6675
    @nibhanbaig66753 жыл бұрын

    please include this in you micro ecnomics a2 playlist so every one knows its a part of syllabus thanks in advance sir.

  • @joelrosa6137
    @joelrosa61376 жыл бұрын

    Well done

  • @mahlatseseabela7648
    @mahlatseseabela76485 жыл бұрын

    Thanks

  • @jaisaha7669
    @jaisaha76692 жыл бұрын

    The true GOAT

  • @raveenarajapaksha6918
    @raveenarajapaksha69187 жыл бұрын

    loved the video. can you please upload a video on income distribution?

  • @ric6383
    @ric63832 жыл бұрын

    Thanks!

  • @rahemahasan2925
    @rahemahasan29252 жыл бұрын

    love u bhai

  • @LITTLEERAofficial96
    @LITTLEERAofficial964 жыл бұрын

    Thanks 🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏

  • @user-sd7ho9dp2y
    @user-sd7ho9dp2y7 жыл бұрын

    @econplusdal could you please do a Video on Maximum Wages because in the Specimen for the OCR syllabus there is a 25 marker but the mark scheme is never developed enough so that students can have a full comprehensive analysis on maximum wages

  • @yesnow6600
    @yesnow66005 жыл бұрын

    yes lad

  • @user-lj5wr4iy6e
    @user-lj5wr4iy6e4 ай бұрын

    thanks vikkstar

  • @zippyclips719
    @zippyclips7197 жыл бұрын

    thanks

  • @isikobabu3221
    @isikobabu32213 жыл бұрын

    Wow you're jst flawless

  • @joelwalters653
    @joelwalters6535 жыл бұрын

    So am i right in saying that despite Diminishing marginal returns setting in, firms will still employ more workers past this stage given that the total productivity is greater than / equal to the wage rate?

  • @rubenaj2053
    @rubenaj20538 жыл бұрын

    hi sir, you have put up videos based on the different exam boards except the cie one. Will you be putting up one?

  • @trizzerd
    @trizzerd2 жыл бұрын

    i love

  • @spec6067
    @spec60675 жыл бұрын

    the best thing since toast

  • @briancatly1
    @briancatly18 жыл бұрын

    Just curious but why would a firm want to employ the 5th worker for? They wouldn't be receiving any extra profit from doing so as all the revenue made by the 5th worker is used to pay the 5th workers wage, so wouldn't this lead to the profits being the same whether you have 4 or 5 workers?

  • @johnruddy4049

    @johnruddy4049

    8 жыл бұрын

    Increase revenue and market share

  • @salmanhussain6863

    @salmanhussain6863

    4 жыл бұрын

    @@johnruddy4049 thanks john

  • @kingHD11
    @kingHD116 жыл бұрын

    I get it, but the diagram surely depicts that at around a wage rate of 10, 6 workers will be hired?

  • @bubblesfacts
    @bubblesfacts Жыл бұрын

    when bringing up MRP in an essay, do you always have to assume that the firm is operating in a perfectly competitive labour market? So that you can expand your answer that firms can hire up until MRP=MCL? Thanks.

  • @elliottbarnes8551
    @elliottbarnes85512 жыл бұрын

    thanks daddy xx

  • @subhangighosh2682
    @subhangighosh26826 жыл бұрын

    So, MRP is the monetary version of MPP, right?

  • @hammadrafique2957
    @hammadrafique29575 жыл бұрын

    When MP IS pos TP increases at increases rate.But your is at Dec rate. Why???

  • @willaustin117
    @willaustin1174 жыл бұрын

    How come in the table the wage rate is constant, but the y-axis has a changing wage rate?

  • @nxx7640
    @nxx76403 жыл бұрын

    Economics CAIE tomorrow!!

  • @martinmartinmartinnmartin1380
    @martinmartinmartinnmartin13808 жыл бұрын

    yess f583!!!!

  • @nightmaster2.020
    @nightmaster2.0206 жыл бұрын

    Any help finding Marginla wage?

  • @rashenmadumal6450
    @rashenmadumal64507 жыл бұрын

    do you have a video on market structures....???

  • @EconplusDal

    @EconplusDal

    7 жыл бұрын

    Loads of them in my Year Microeconomics playlist. Check them out - everything is covered

  • @harrygray6770
    @harrygray67703 жыл бұрын

    is D = MRP only for perfect competition by virtue of your mathematical derivation (maximize profit when MRP = MFC) or is this just something we assume as part of the theory? HELP DAL!!!

  • @justsomegirlwithoutamustac5837
    @justsomegirlwithoutamustac58374 жыл бұрын

    You’re fucking awesome

  • @realFriedrichHayek
    @realFriedrichHayek8 жыл бұрын

    I dont even need to know this for AS but still interesting vid :D

  • @vikramvarma5037
    @vikramvarma50373 жыл бұрын

    Please I am trying to buy the content from your website but it isn't accepting Google pay or paytm

  • @TheMacerz10
    @TheMacerz106 жыл бұрын

    Do we need to know this for Edexcel because it's not on the spec

  • @jason-os3jg

    @jason-os3jg

    5 жыл бұрын

    no g only ocr

  • @ryanathwal8819
    @ryanathwal88194 жыл бұрын

    My teacher told me mrp = extra revenue divided by extra worker. Is this wrong ?

  • @sharad5149
    @sharad51496 жыл бұрын

    How is MRP = Demand line?

  • @sirjanapoudel4097
    @sirjanapoudel40973 жыл бұрын

    What if the market is not perfectly competitive?

  • @reginaayy3667
    @reginaayy36675 жыл бұрын

    Is the MRP theory the same as Marginal productivity theory?

  • @123aaafus

    @123aaafus

    5 жыл бұрын

    yes both the same

  • @user-qj3il4pf8d
    @user-qj3il4pf8d5 ай бұрын

    why isn't marginal revenue product on the y axis?

  • @frankneikwa6539
    @frankneikwa65395 жыл бұрын

    Sir is the formular for MRP same for monopsony?

  • @Adam-do8ny

    @Adam-do8ny

    5 жыл бұрын

    Yes

  • @vickramvarma7879
    @vickramvarma78793 жыл бұрын

    I wish to buy your micro economics module? Can I do it!?

  • @rahemahasan2925
    @rahemahasan29252 жыл бұрын

    Wht country R from?!

  • @noahjohnson1940
    @noahjohnson19403 жыл бұрын

    you beautiful man

  • @humaiira
    @humaiira2 жыл бұрын

    is mpp*p same as mpp*mr? pretty sure it is, innit? because marginal revenue is like, the price of each product.... (hope everyone does well in there a-levels btw)

  • @humaiira

    @humaiira

    2 жыл бұрын

    oh wait he said it - got my answer. whoops

  • @UTK37

    @UTK37

    Жыл бұрын

    how'd you do?

  • @TheGamingWattsit
    @TheGamingWattsit4 жыл бұрын

    Why do we assume this firm is operating in PC?

  • @MC10W
    @MC10W2 ай бұрын

    MRP=MPP X p

  • @weischin
    @weischin4 ай бұрын

    Do you give individual online classes for ib economic?

  • @happydays1457

    @happydays1457

    2 ай бұрын

    Have a look on his website, it's linked in the description

  • @TheGamingWattsit
    @TheGamingWattsit4 жыл бұрын

    We assume workers are homogeneous. So why is it that the second worker produces more than the first?

  • @uniqueunonymous1055

    @uniqueunonymous1055

    3 жыл бұрын

    he produces more in a sense that he adds more to total product........lana rhoades

  • @rahemahasan2925
    @rahemahasan29252 жыл бұрын

    any bhabs in the making?

  • @cmula2113
    @cmula21136 жыл бұрын

    grow your beard

  • @antisocialbarbie1587

    @antisocialbarbie1587

    Жыл бұрын

    He had it in one of his recent

  • @charlieh2088
    @charlieh20885 жыл бұрын

    gash trim in 2016 dal

  • @vinayak186f3
    @vinayak186f33 жыл бұрын

    thanks