Don't forget to like the video and subscribe to the channel to see more economics content like this in the future! :)

@taiwohassan6506

Жыл бұрын

how can we solve this particular problem in excel

@ThinkEcon

Жыл бұрын

@@taiwohassan6506 It depends. Are you trying to graph it in excel or simply solve using algebra in excel?

@taiwohassan6506

Жыл бұрын

@@ThinkEcon I am trying to solve it using algebra

@taiwohassan6506

Жыл бұрын

@@ThinkEcon and it's important, I do it , I have solved with hand but I need to solve with the equations in excel

@ThinkEcon

Жыл бұрын

@@taiwohassan6506 Depending on the version of excel you have, there is a "solver" tool which allows you to input the two (Demand and Supply) equations and it will solve equilibrium P and Q for you.

Broken down so perfectly that even someone like me who's mathematically illiterate can understand it. Thank you; you've earned a new subscriber!

@ThinkEcon

Жыл бұрын

I appreciate the kind words, and the subscription! It's really encouraging for me to hear that I'm making a positive impact on students learning about economics! :)

@marceloamado6223

11 ай бұрын

😂😂😂

@killerfrank8974

6 ай бұрын

@@prashnashrestha6861 What's so funny? Is everyone supposed to be great at math???????

@ThinkEcon

6 ай бұрын

@killerfrank8974 I was wondering the same thing 🥲

@prashnashrestha6861

5 ай бұрын

​@@killerfrank8974 Yo mama😉

Have my Mid-term next week, your video helped me to finally understand how to calculate it, Thank you!

@ThinkEcon

Жыл бұрын

I am really happy to hear that! These types of comments are so encouraging for us. Good luck on your midterm next week! :)

was battling to understand this by myself from my course notes, in a couple minutes you taught it to me perfectly. Thank you so much dear brother

@ThinkEcon

Жыл бұрын

I'm glad I made everything crystal clear for you! I appreciate the feedback :)

@mikmak3450

Жыл бұрын

Fr me too ✨🙌🏼

I spent two hours trying figure it out just to come here and for you to explain it in two mins. Thank you

@ThinkEcon

4 ай бұрын

You're welcome! Glad I could help you out

Great video, Easy to follow along and understand

@ThinkEcon

Жыл бұрын

Thank you! We appreciate the feedback and are glad you found it helpful! :)

I was struggling in solving this but fortunately for me your video has helped me to understand it very well, Thank you Soo much

@ThinkEcon

Жыл бұрын

You're very welcome. I'm glad you found this video helpful! :)

I got what I needed, thank you so much for your efforts

@ThinkEcon

Жыл бұрын

Glad to be of service!

Explained and regathered so clearly. Thank you, and subscribed I have.

@ThinkEcon

Жыл бұрын

Glad to hear it!

Thank you so much for this ! I’m currently taking Econ and I feel like I’m drowning.

@ThinkEcon

28 күн бұрын

It can feel overwhelming at times, no doubt. You’ve got this!

Thank you super easy to catch up 😉

Thank you for helping me get ahead of my class :)🤫🤑🤑🤑

@ThinkEcon

Жыл бұрын

It's what we're here for!

👌perfect down to the last evry detail

So educational thank you

I watched a few videos and was so confused... this one was incredibly easy to follow. Thank You!

@ThinkEcon

Жыл бұрын

I’m really glad to hear that! You’re very welcome :)

Good teacher , thnk you

Thank you so much, you explain it in a good way 😊

@ThinkEcon

28 күн бұрын

Glad I could help! 😊

Thank you well explained

I owe you one bro you saved my life merry Christmas

@ThinkEcon

6 ай бұрын

Glad you found the video helpful! :)

Thanks for sharing, this really helped!

@ThinkEcon

Жыл бұрын

Glad to hear it!

You hited the nails on the head 🙌.

Keep on the good work, you're amazing ❤❤

@ThinkEcon

3 күн бұрын

I appreciate the kind words! :)

Thank you very much this video helped a lot❤

@ThinkEcon

2 ай бұрын

I’m really glad to hear that! :)

Thank you Love From Bangladesh 🤗😍

thank you so much man tomorrow is my economics exam. Easily understood love from Nepal

@ThinkEcon

Жыл бұрын

I'm glad the video helped! Good luck on your exam :)

Thank you so much, it really helped me.🙏

@ThinkEcon

Жыл бұрын

I’m glad to hear it!

😂😂 thanks so much this video was very helpful to me, it help me do my assignment with a clear understanding to work out my answer Love it...

@ThinkEcon

Жыл бұрын

I’m glad it was helpful! :)

You are amazing thank you so much

Thanks U are a life saver

@ThinkEcon

Жыл бұрын

Glad the video helped! :)

Thank you for the good work

@ThinkEcon

Жыл бұрын

You're very welcome! Glad you enjoyed it :)

THANK YOU FOR THIS!

@ThinkEcon

Жыл бұрын

YOU'RE VERY WELCOME! Glad you found it helpful :)

u made the equation so easy ty ECON

@ThinkEcon

Жыл бұрын

I'm glad you found it helpful!

Perfectly explained😊,the information is helpful

@ThinkEcon

4 ай бұрын

I appreciate the positive feedback!

thanks you not only teach how to do it but you also taught how it actually works

@ThinkEcon

3 ай бұрын

I find that teaching how it actually works goes a long way when it comes to truly understanding the concept. I’m glad you found it helpful! ☺️

thank you! this is really helpful

@ThinkEcon

8 ай бұрын

Glad to hear it! :)

awesome ..this helped me a lot ....

@ThinkEcon

11 ай бұрын

Glad to hear it!

What a good teacher

@ThinkEcon

Жыл бұрын

I appreciate the compliment :)

Thank you it all looked like rocket science but now I fully understand

@ThinkEcon

6 ай бұрын

Glad to hear it!

Thanks so much your video was literally helpful ❤

@ThinkEcon

28 күн бұрын

Glad to hear it! 😊

Thank you for your help and advice for equilibrium calculate basedon all these video is the best

@ThinkEcon

Жыл бұрын

You're welcome! We are happy that you found the video useful :)

Thank you sir, it really helps😁

@ThinkEcon

Жыл бұрын

I'm glad you found it helpful! :)

I really appreciate your efforts

@ThinkEcon

4 ай бұрын

You’re very welcome ☺️

Excellent teaching 🙌

@ThinkEcon

Жыл бұрын

Thank you very much :)

Waw Just waw Gosh, I've been cracking my brain on this, this just explain everything in minutes

@ThinkEcon

11 ай бұрын

I’m really glad you found it helpful :)

Thanks alot for sharing

@ThinkEcon

7 ай бұрын

You're welcome!

Thank you for helping me

@ThinkEcon

7 ай бұрын

You're welcome!

really helpful to my home work 💖

@ThinkEcon

Жыл бұрын

Glad you found it useful! :)

Beautiful one there

Thank you from India ❤❤❤❤

@ThinkEcon

Ай бұрын

You’re welcome!

So short thanks ☺️

EXCELLENT EXPLANATION

@ThinkEcon

4 ай бұрын

Thank you!

Thanks so much dear man

@ThinkEcon

4 ай бұрын

You're very welcome!

This has really helped me

@ThinkEcon

Жыл бұрын

I’m glad to hear that! :)

Thank you so much you are awesome

@ThinkEcon

15 күн бұрын

I'm glad you found the video helpful!

Sukriya sir 🙏

Thank you so much

@ThinkEcon

5 ай бұрын

You're very welcome!

THANK YOU SO MUCH!

@ThinkEcon

Жыл бұрын

You’re very welcome!

What would be the producer surplus for these functions? Would it be the area of the trapezoid as we would ignore the area below the x-axis (as y-intercept of supply function is -10)?

Thank you 💕

@ThinkEcon

Жыл бұрын

You're welcome!

amazing!

Very well articulated

@ThinkEcon

8 ай бұрын

Thank you very much

Thanks so much

@ThinkEcon

Жыл бұрын

You're very welcome!

Good explanation

@ThinkEcon

2 ай бұрын

Thank you!

Very good class. I subscribed. Please tell me what are the tools you are using here to present this topic. Expecting your reply.

thank you!

@ThinkEcon

2 ай бұрын

You're very welcome!

Thank you so much 🥺

@ThinkEcon

Жыл бұрын

No problem! Glad I could help :)

Thanks 🙏 ❤

@ThinkEcon

Жыл бұрын

You're welcome!

Thanks sir nice class this

@ThinkEcon

Жыл бұрын

You're very welcome!

Thanks ❤

@ThinkEcon

Жыл бұрын

You're welcome!

Do I keep the negative & positive always on the side it presents itself in the original formula. for example 100-3p = 2p+20. So when we separate the constants and the P's the negative stays with the left and the positive with the right? Hope that makes sense.

@ThinkEcon

Жыл бұрын

When you switch anything to the opposite side of the equals sign, you have to change the sign. So for 100 - 3P, the negative sign is attached to the 3P, and so when you move that to the other side, it becomes + 3P. Which would yield 100 = 2P + 20 + 3P. But you'll want to only have P terms on the right, so you would move that + 20 to the left, where it will become - 20. So now you have 100 - 20 = 2P + 3P. Does this help?

THANK YOUUUUUUU 🎉

@ThinkEcon

Жыл бұрын

You're very welcome!

Thank you

@ThinkEcon

6 ай бұрын

You're welcome!

Helpful video sir, but I have a question (how to calculate elasticity of demand in this condition )

I enjoy your lesson may you assist me with economy lessons

that's very helpful thanks, so how can we solve for complementary goods e.g Qd=410-5Ps-2Pj , Qs=-60+3Ps where Ps:price for slacks and Pj:price for jacket

I love this door

It was well understood

@ThinkEcon

Жыл бұрын

I'm glad to hear that! :)

thank you sir..

@ThinkEcon

Жыл бұрын

You're very welcome

Great

Hi. Can you please talk about Taylor Rule.

Thanks

@ThinkEcon

Жыл бұрын

You're welcome!

I'm from Nepal.

Thanku❤

@ThinkEcon

5 ай бұрын

You’re welcome!

Thanks man

@ThinkEcon

Жыл бұрын

You're welcome! Glad it was helpful

Sirr thankss you help me a lot when my teacher discuss this i can't understand because of my seatmate is so loud and annoying thanks A lot btw is this subject is economics?

@ThinkEcon

6 ай бұрын

Your seat mate is a negative externality to the class

AM NOT GOOD AT MATHS BUT THIS WAS VERY HELPFUL SIR

@ThinkEcon

Жыл бұрын

I’m really glad to hear that! :)

Find the equilibrium price and quantity for two complementary goods, shirts (S) and jackets (J). Using elimination method. (i) Qds = 410 - 5PS - 2Pj qsS = 60 + 3P Can you please solve this

Ok good now i understand

@ThinkEcon

Жыл бұрын

Glad the video helped! :)

Thk u

@ThinkEcon

Жыл бұрын

You’re welcome 😊

Good morning sir. What is 100 , -3p , 2p, in equation please explain it. Thanks

@ThinkEcon

Ай бұрын

So as you'll see in the video, the supply and demand curves are actually linear. So the 100 and the -3P are actually the y-intercept and the slope, the same as if it was in y=mx+b form. Does this help?

more appreciates

thank you very much. But what if it is a two-good economy? Will I have two equilibriums?

@ThinkEcon

8 ай бұрын

You’re welcome, and great question! So if you were given the supply and demand equations of individual goods, then yes, you’d be able to graph supply and demand equilibrium twice, once for each good. This would give you an equilibrium for each good. However, sometimes you’ll be asked to plot what’s called the market demand and market supply, which is all of the demand curves added up, and all of the supply curves added up for all individuals in an economy! Hope this helps :)

@mavjudaotamurodova

8 ай бұрын

@@ThinkEcon Yes, helpful. So grateful for your help))

Thank you Am having an exam in 4 hours time 👍

@ThinkEcon

Жыл бұрын

Good luck on the exam!

Why must the supply and demand balance out in a market equilibrium? What is meant by the equilibrium price? Why do you need to use the equilibrium price to work out the values for both p & q? Thank you.

@ThinkEcon

Ай бұрын

The intuition is that in equilibrium, supply and demand equal each other and so at the equilibrium price there is no surplus or shortage of quantity in the economy! It's the price that makes the consumer AND producer both happy to engage in market activities. If the price is higher than equilibrium, the consumer is worse off and will demand less. Therefore there will be a surplus. If the price is lower than the equilibrium price then the producers will be worse off and supply less. In this case there would be a shortage! We call both of these cases "disequilibrium." Hope this helps :)

@calmingarts2932

Ай бұрын

@@ThinkEcon Thank you very much :)

Where did the values 100 and 3 in Demand function came from?

@ThinkEcon

4 ай бұрын

The demand function will normally be given to you in the question. This particular one is just a random demand equation that I’ve made up for the video to illustrate how to calculate equilibrium. If you put the demean equation into y=mx+b form, then the 100 and 3 would represent the slope and y-intercept of the demand curve. Hope this helps!

❤

Hello author! From where you get those numbers Qd=100-3p Qs=2p+20 or is it type of question?

@sangaydema3550

Жыл бұрын

Can you give me simple formula of equilibrium for grade 9 economics

@ThinkEcon

Жыл бұрын

I just made up these particular equations for the example. In an assignment or on a test you would be given your own equations, and the steps to solve would be the same as what I've shown in this video. Hope this helps! :)

@sangaydema3550

Жыл бұрын

@@ThinkEcon thank you 🙏

@ThinkEcon

Жыл бұрын

You’re welcome ☺️

banger video

@ThinkEcon

6 ай бұрын

banger comment

It was great but short

@ThinkEcon

8 күн бұрын

I tried to keep it straight to the point. No messing around on this video!

Sir I want to learn The chapter Function from 3rd year Economy Book