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Understanding the relationships between Total, Marginal and Average Product
Understanding the relationships between a firm's short-run productivity curves will provide us with a basis for understanding how a firm's costs of production change as the firm varies its level of output in the short-run.
Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! econclassroom.c...
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Finally the legendary class came to an end.
SOOOOO helpful even 7 almost 8 years later. Ur the best
@danielschwegler5220
3 жыл бұрын
Indeed
First time I'll comment on KZread This is simple, straightforward and clear, thanks really appreciate
First time i have ever commented on a youtube video. Simply Awesome. People! I know this concept is confusing but if you just give yourself 18 minutes this guy could clear all the questions you have but again you gotta be paying attention. Thank YOU SIR
You are a really good lecturer. I learn a lot from you. Thanks so much.
Love the practical examples, explanations are not technical and this makes it easy to understand. thank you!
You've made it so simple to umderstand, thanks a lot😊
@AivadorigaIgo-ec7nb
2 ай бұрын
True❤
The magnet example is a perfect explanation! Thank you so much.
@zeroizhar Marginal product is the change in total product resulting from each additional worker.
Oh my god thank you so much!! I wish I looked for this video 4 hours ago while I was going through all the notes and the book 😩
you are the best ! i finally start to love Economics
W lecture. Thanks for this video!
thank you!!! i am self learning and was so CONFUSED but after watching this I understand!!!!
This is excellent, thank you!!
when plotting marginal product shouldn't you plot the points at the half way point between each level of factor input?
Thank you a lot . Your expanation will help me for my economics exams
you are life saver even 8 year later
nice explained, thanks a lot!
You should teach our teacher to teach us like your teaching. You are great teacher sir
thank you for the video! this made it much easier to understand!
This was so well explained !
Awesome video. Recommended.
OMG! This was excellent!!!
Thank you for well explanation🙏🙏
Very helpful, thanks for the informative vid.
Thanks for the lesson it was understood
Love from Bangladesh.Also thank you very much sir
Explained very well.Thank you very much.
OMG, YOU SAVED ME !!! THANK YOU
very helpful, best 15 minute power nap ever
Mmmm you are good , this is my first time commenting on learning videos
Awesome explanation!
This video helps me a lot , Thank you so much sir
Good teaching
thank you so much!! wish i could attend your class in real life!
You are way better than my college professor omfg
wonderful explanation , thanks❤️
for marginal product when you increase from 0 to 1 worker why don't you plot the points at .5 instead of 1, etc? the MP only occurs at the midpoint between them
Great explanation sir, thank you.
Very good explanation. Thank You
Thanks for the explanation 🙂
In graphing the sets, i noticed that the scale in the quadrant in x axis, for every 1 unit is marked 1 and additional 1 progressively, but in the y axis with the same or equal value of unit it is marked 2, and an additional 2 progressively. Is scaling in graphing this sets matter.?
The intro was great
Prof. Welker, your idea to get your students to make those paper-chains was very innovative indeed! I have a question, though: As you increased the number of students, did they work on the *same* paper-chain that was started by the first student, or was a *new* paper-chain created every time that a new student joined the "workforce". In other words, was there *one paper-chain that kept getting longer* with each student who was added to the workforce, or did the *number of individual paper-chains* increase each time a student was added to the workforce? Thank you!
You're the best.. Thanks professor
Very nice and I love this final to studies economic
nice! i understand it now☺☺
How did uh took tht tp total product number 🤔
Tqvm sir may God bless you
SPECIALLY THANKS
@valenzc3 Total product is the presumed output of the firm. I made it up.
Thanks
Thanks for clear explanation. Arigatu !
Thanks again
beautifully explaiend
thank you sir
Nice explain, tnx
Very nice explaination and thannnnnnkkuuuu sooooooooo much
I wish you were my professor
doesnt TP start falling only when the MP is lower than the average?
Awesome video....thank you
thank you this is so helpful!
very very very very helpful.
Very helpful. SALAMAT PO!
really thank you I was lost and couldn't understand any thing ,really appreciate your efforts
Amazing tutorial sir!
woow so nice ur big thanks because I am not find out AP
Which song was in starting? 😁
nice
thanks alot good explanation
making paper chains in an economics class!
Oh my.. thanks a ton!
good teaching
ty :)
thanks
could u please do exchange rates
excellent explanation :)
Thank You!!!
how do you find TP (output)?
Thank you
thank you a lot you help me
Thank you mate!!!
Man, you are good!
You you didn't explain how exactly you plotted mp and ap🙄
Why did you not talk more about the dots ? instead of going fast over them w
how do you get marginal product sir?
Cool vid, would you end up hiring 4 or 6 employees?
@not4yman
8 жыл бұрын
6 employees
@williamharris1544
3 жыл бұрын
@@not4yman 4
I like you my brother! Thanx
It's ok
🎉🎉🎉
9 years :D
1:00 Child Labour
"i use my students as labour" AHAHAHAHA comedic gold i must say..
9:06: hardest part
tnx ^_^
Please explain in Hindi medium
you mean marginal profit , avg profit and total profit and not product
@tabithaneema2270
3 жыл бұрын
No it’s product not profit
Hii
When I read 2012, I think 2 years ago not 8.
I feel so dumb if these kids are learning about MP AP and Diminishing returns, why am i doing bad in econ while im in college :( FML