Continue learning with practice questions: mru.io/sxs

This man just summarised an entire chapter of my textbook in 14 mins

This channel is highly underrated! The concepts are taught in such a simple and lucid manner. Absolutely brilliant 👏

I enjoy and understand these lectures more than my microecon class. Thanks for the help.

Dear Alex, the fact that you are an Iranian not only makes me more thankful but proud too. love and respect from Iran

Absolutely brilliant. These guys are tons better than the economics courses I normally use for school.

@ariee101

11 күн бұрын

I have Wasted Coaching Fees Rs. 40,000. But I don't have Understand anything from my Tuition but this Channel helps me a lot. It is much better than any Courses or Tuition etc.

wow. interesting and SOOO much better than whatever my microeconomics was trying to explain in a 2 hour lecture. this was clear and to the point. thank you so much!

Thank you so much! Your explanation and examples make it so easy to understand the concept of Elasticity. I was reading the textbook and it didn't make sense, but watching this video clarifies the concept of elasticity.

This is so goood! I was reading my textbook and had no idea what was going on. Look at your video and I get it; I feel as if I don't need to memorize as I get it. Thank you so much!

so good! I'm studying for my mid term. I didn't understand a bit from my professor. So grateful... Thank you.

Another great video! 11:53 "Consumers probably won't even notice whether toothpicks are 50 cents or a dollar. That's a 50% increase in price..." :O

@andru5054

8 жыл бұрын

+Martin Epstein from 50 cents to a dollar that`s 100% price increase, as far as I`m concerned

@alainkalubi5542

7 жыл бұрын

Well it's a 50% increase if you think that 50 cents are 50% of a dollar, instead of viewing this as 1 dollar is a 100% increase of 50 cent. But that's just the way they you look at it.

This video has helped me so much with my project so glad I found this

Thank you for a great lesson, this can not only work in real life, but also in a game like Runescape that have its own marketplace, like food supply and weapons were food is elastic and weapons are less elastic.

thanks for you supports young economists and also i thank for your effort that paid the economics...

I really like your videos. They have helped me alot. However, changing the price in toothpicks from fifty cents to a dollar is a 100% increase. 50% increase would be seventy-five cents.

@tushargautam1

5 жыл бұрын

It will be clear in the next video actually he used the average to calculate percentage changes

Thank you for this... very very helpful... clearer understanding!!!!

He's the best lecturer of economics. You deserve 5* rate!

I am loving these videos! Thank you for posting!

Very useful teaching methodology for beginners like myself. Hope brief notes will be available for further reading and reference

I'm in the best business school in France, and this teacher is by far better than mine. Where is all my money going to ??

Well explained .Thanks for posting!

Great videos. I learned what I needed to learn. Thanks for posting

This was an excellent lecture.

You guys the absolute best!!! Wow u saved me. Thank you

Thank you! My instructor needs to take lessons from you. =)

wonderful content an easy to understand explanation. Thank you!

Now it is all clear,,,,,,,,,,,,,,,,,,,,,thank u sir.

Thank you so much for this video! can you write down the answer steps for the practice questions please? Thank you in advance

Thank you Prof Alex Tabarrok!

This guy brings relief to my studies

that sounds so helpful. thanks

Thanks very much I've got a lot,than my University. Teacher,Be blessed,

Thank you for the clear explanation

I really understand and achieve more knowledge than i think.Thanks

@economicshelp7505

6 жыл бұрын

Mian Salman Microeconomics class 12 CBSE 2018 kzread.info/dash/bejne/mmZ8mK2Mlt3MccY.html

thanks for the videos!

Beautiful intro to elasticity of demand...

two hours untill exam lets go thank you for this great video

@john-olivierlukama1548

3 жыл бұрын

Did you pass or fail?

Thank god and thank you for making it easy.

thanks a lot sir!! helped much :)

Great tips!... Keep uploading thank you!❤

Thank you for your videos

thank you,you helped me a lot

i'm taking introduction to economics in my university and took me less than 30 mins to be ready for my exam thank u very much

This video was so helpful

helps a lot thank u so much

Awesome info.

I DEMAND more

I love your channel!

this class is better than physhical class..

Thanks for nice video .

Thank you for the help.

Thank you!!!

great video again wow!

Thank you ❤

awesome guy very helpfull

On the elastic demand curve , the quantity demanded is more responsive to the price than it is on the the inelastic demand curve

Please explain total outlay method and ARC elasticity of demand

Thank you

awesome!!!

Thank you so much love you ❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️

Thank you.

thanks alot

very thanks

It's one of those foundational concepts

thanks sir.. I have a question that my teacher asked me.. the question is that "why price is on y axis and quantity of demand is on x axis"??

@MarginalRevolutionUniversity

8 жыл бұрын

+Shiv Shanker You should review some of the videos from earlier in the course. We begin by covering the demand and supply curves, and equilibrium price. These should help with your homework. Good luck! - Meg (Link: kzread.info/dash/bejne/aZmOxbKsad2ff6Q.html&nohtml5=False)

@ShivDh1

8 жыл бұрын

Marginal Revolution University thanks sir

Thank you sir.

@erudaishanker

5 жыл бұрын

Thank you sir for such a simple explanation!!!

Well understood

Thank you so much…i keep commenting ..as want such pedagogy should reach out to maximum and they can gain more with less effort…Consumer optimisation 😎

fantastic

iliq haresva tova!

The narrower the classification the fewer substitutes and the more elastic the curve

thank uuu

Now I wonder why I didn't understood from this man... the whole year is wasted eh! 🙂

the reponsiveness of demand to a change in price

is there any pdf file copy for this video ?

@MarginalRevolutionUniversity

8 жыл бұрын

No, there's just the video. Sorry about that! -Meg

@centexn

7 жыл бұрын

How bout we get working on it. Sorry about that!!

@PapaJenkinz

7 жыл бұрын

+centexn relax

$0.50 to $1.00 for the price of toothpicks is a 100% increase in price, not 50%. Just to illustrate that it's an even larger price increase than you stated, and still it isn't considered a big deal.

Ethiopian coffee, elastic demand loved

👍👍💜

The quantity is changing a lot in response the price

Linear

4:43

Toothpicks increase in price from 0.5 to 1 is a 100% increase in price isn't it?

@schanemassey3861

7 жыл бұрын

yes but its a relatively small increase to a consumer, thus the quantity demanded will not change.

me gusta

Can one become an economist without maths?

Masterpiece teaching five star

There would be more Sprawl if the price is low

It's honestly infuriating that the x axis (input) is quantity sold and the y axis (output) is price. Who the F did that bit of ass-backward reasoning? I have to reverse all of my intuitions about how to use the supply and demand curves. You guys even say "price causes a change in quantity demanded" because that's absolutely the common sense way to think about it. You have direct control over the price and only indirect control over the quantity demanded via the price. But my brain is wired from a decade of math class to look to the x axis for the input (which would be PRICE) and the y axis for output (which is QUANTITY).

@Navak_

5 жыл бұрын

"Although it is normal to regard the quantity demanded and the quantity supplied as functions of the price of the goods, the standard graphical representation, usually attributed to Alfred Marshall, has price on the vertical axis and quantity on the horizontal axis." en.wikipedia.org/wiki/Supply_and_demand ALFRED MARSHALL

I would bargain when the purchase is a large fraction of the budget

People in Europe adjusted due to taxes

Small items, in the short run , more inelastic

@thompsonsummers1557

6 жыл бұрын

why?

11:53 - from $0.5 to $1 it's a 100% increase. Sorry! Just trying to look smart here.

Ethiopia

Do monopoly Subsidy

Toothpick

Where is the calculus. I need to understand those derivatives common bro, pls . That’s fake microeconomics.

Generic aspirin

If the price of a toothpaste goes from 50 cents to a dollar , it will be 100% change in the price... Not 50

ρ π Δ β

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