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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...

Пікірлер: 110

  • @zubairazamsiam20yago97
    @zubairazamsiam20yago977 ай бұрын

    Finally the legendary class came to an end.

  • @bradansel
    @bradansel4 жыл бұрын

    SOOOOO helpful even 7 almost 8 years later. Ur the best

  • @danielschwegler5220

    @danielschwegler5220

    3 жыл бұрын

    Indeed

  • @adaramolamary9981
    @adaramolamary99812 жыл бұрын

    First time I'll comment on KZread This is simple, straightforward and clear, thanks really appreciate

  • @mobicheema2381
    @mobicheema23819 жыл бұрын

    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

  • @nguyenthiphuongdung1262
    @nguyenthiphuongdung12626 жыл бұрын

    You are a really good lecturer. I learn a lot from you. Thanks so much.

  • @bernadinehudson6859
    @bernadinehudson68592 жыл бұрын

    Love the practical examples, explanations are not technical and this makes it easy to understand. thank you!

  • @felixerhabor8075
    @felixerhabor80756 ай бұрын

    You've made it so simple to umderstand, thanks a lot😊

  • @AivadorigaIgo-ec7nb

    @AivadorigaIgo-ec7nb

    2 ай бұрын

    True❤

  • @surrahhhh
    @surrahhhh6 жыл бұрын

    The magnet example is a perfect explanation! Thank you so much.

  • @JasonWelker
    @JasonWelker12 жыл бұрын

    @zeroizhar Marginal product is the change in total product resulting from each additional worker.

  • @mariamh.2714
    @mariamh.27146 жыл бұрын

    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 😩

  • @iremdir234
    @iremdir2347 жыл бұрын

    you are the best ! i finally start to love Economics

  • @zaccaih
    @zaccaih10 күн бұрын

    W lecture. Thanks for this video!

  • @xinxinchen
    @xinxinchen2 жыл бұрын

    thank you!!! i am self learning and was so CONFUSED but after watching this I understand!!!!

  • @suzy_h6397
    @suzy_h6397Ай бұрын

    This is excellent, thank you!!

  • @adamkhan9899
    @adamkhan98998 жыл бұрын

    when plotting marginal product shouldn't you plot the points at the half way point between each level of factor input?

  • @mouhammadmouneerluchmun1629
    @mouhammadmouneerluchmun1629 Жыл бұрын

    Thank you a lot . Your expanation will help me for my economics exams

  • @ugurcancelik3357
    @ugurcancelik33574 жыл бұрын

    you are life saver even 8 year later

  • @neobat1
    @neobat18 жыл бұрын

    nice explained, thanks a lot!

  • @salemkraidi3530
    @salemkraidi35306 жыл бұрын

    You should teach our teacher to teach us like your teaching. You are great teacher sir

  • @angelinedeborah5345
    @angelinedeborah5345 Жыл бұрын

    thank you for the video! this made it much easier to understand!

  • @umerahmed6678
    @umerahmed66786 ай бұрын

    This was so well explained !

  • @yinyin7614
    @yinyin76142 жыл бұрын

    Awesome video. Recommended.

  • @Hart4naturals
    @Hart4naturals Жыл бұрын

    OMG! This was excellent!!!

  • @DavidGibson-kc8sk
    @DavidGibson-kc8sk2 ай бұрын

    Thank you for well explanation🙏🙏

  • @karanmehra6909
    @karanmehra69099 жыл бұрын

    Very helpful, thanks for the informative vid.

  • @UcheCajethan-ef2lm
    @UcheCajethan-ef2lm Жыл бұрын

    Thanks for the lesson it was understood

  • @mohsenasarmin3493
    @mohsenasarmin34932 жыл бұрын

    Love from Bangladesh.Also thank you very much sir

  • @Childrensmathes
    @Childrensmathes4 жыл бұрын

    Explained very well.Thank you very much.

  • @COCO-rh8ey
    @COCO-rh8ey3 жыл бұрын

    OMG, YOU SAVED ME !!! THANK YOU

  • @williamharris1544
    @williamharris15443 жыл бұрын

    very helpful, best 15 minute power nap ever

  • @ChipoMary-pl6fk
    @ChipoMary-pl6fk4 ай бұрын

    Mmmm you are good , this is my first time commenting on learning videos

  • @juliane1mota
    @juliane1mota9 жыл бұрын

    Awesome explanation!

  • @ades.p.5245
    @ades.p.52452 жыл бұрын

    This video helps me a lot , Thank you so much sir

  • @ToheebAbdulRasheed-zp5yy
    @ToheebAbdulRasheed-zp5yy6 ай бұрын

    Good teaching

  • @mzaz2844
    @mzaz28442 жыл бұрын

    thank you so much!! wish i could attend your class in real life!

  • @st0cyl0vesch33se
    @st0cyl0vesch33se Жыл бұрын

    You are way better than my college professor omfg

  • @021aminul
    @021aminul2 жыл бұрын

    wonderful explanation , thanks❤️

  • @taxationistheft7047
    @taxationistheft70473 жыл бұрын

    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

  • @richaka
    @richaka8 жыл бұрын

    Great explanation sir, thank you.

  • @khonymony
    @khonymony10 жыл бұрын

    Very good explanation. Thank You

  • @aalokdhonju5809
    @aalokdhonju58093 жыл бұрын

    Thanks for the explanation 🙂

  • @just-pure-chaos
    @just-pure-chaos11 жыл бұрын

    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.?

  • @andyt9677
    @andyt96774 жыл бұрын

    The intro was great

  • @yevodee4024
    @yevodee40249 жыл бұрын

    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!

  • @gamaleissa7657
    @gamaleissa76575 жыл бұрын

    You're the best.. Thanks professor

  • @akotmartin5730
    @akotmartin57307 жыл бұрын

    Very nice and I love this final to studies economic

  • @alisa__-ix9id
    @alisa__-ix9id Жыл бұрын

    nice! i understand it now☺☺

  • @misba9128
    @misba91283 ай бұрын

    How did uh took tht tp total product number 🤔

  • @hanafisr125
    @hanafisr1253 жыл бұрын

    Tqvm sir may God bless you

  • @md.moniruzzamanmia7233
    @md.moniruzzamanmia72335 жыл бұрын

    SPECIALLY THANKS

  • @JasonWelker
    @JasonWelker12 жыл бұрын

    @valenzc3 Total product is the presumed output of the firm. I made it up.

  • @mohammadalwi3917
    @mohammadalwi3917 Жыл бұрын

    Thanks

  • @KhalilHomaam
    @KhalilHomaam10 жыл бұрын

    Thanks for clear explanation. Arigatu !

  • @Nightengale0000
    @Nightengale00004 жыл бұрын

    Thanks again

  • @stefanvicoleanu2911
    @stefanvicoleanu29118 ай бұрын

    beautifully explaiend

  • @zannatulislam9370
    @zannatulislam93702 жыл бұрын

    thank you sir

  • @kavindudulanjan2548
    @kavindudulanjan25483 жыл бұрын

    Nice explain, tnx

  • @nishantmaske1
    @nishantmaske111 жыл бұрын

    Very nice explaination and thannnnnnkkuuuu sooooooooo much

  • @nataliavasquez3360
    @nataliavasquez33604 жыл бұрын

    I wish you were my professor

  • @scdgjilh
    @scdgjilh8 жыл бұрын

    doesnt TP start falling only when the MP is lower than the average?

  • @daragsanket
    @daragsanket10 жыл бұрын

    Awesome video....thank you

  • @ninamikou
    @ninamikou10 жыл бұрын

    thank you this is so helpful!

  • @soso-ku9fx
    @soso-ku9fx7 жыл бұрын

    very very very very helpful.

  • @movieniwilly
    @movieniwilly10 жыл бұрын

    Very helpful. SALAMAT PO!

  • @suesao629
    @suesao6295 жыл бұрын

    really thank you I was lost and couldn't understand any thing ,really appreciate your efforts

  • @07Shivamk
    @07Shivamk6 жыл бұрын

    Amazing tutorial sir!

  • @pharihavolleyballteam103
    @pharihavolleyballteam1035 жыл бұрын

    woow so nice ur big thanks because I am not find out AP

  • @hrshield1626
    @hrshield16264 жыл бұрын

    Which song was in starting? 😁

  • @user-vz5oz5jw7o
    @user-vz5oz5jw7o3 ай бұрын

    nice

  • @sirgepavani6774
    @sirgepavani67746 жыл бұрын

    thanks alot good explanation

  • @AaliyaKhan
    @AaliyaKhan12 жыл бұрын

    making paper chains in an economics class!

  • @livealife5102
    @livealife51024 жыл бұрын

    Oh my.. thanks a ton!

  • @kipoalpha4380
    @kipoalpha438010 жыл бұрын

    good teaching

  • @maazmalik6018
    @maazmalik60182 жыл бұрын

    ty :)

  • @sanfran224
    @sanfran2245 жыл бұрын

    thanks

  • @dikshamunogee5576
    @dikshamunogee55768 жыл бұрын

    could u please do exchange rates

  • @lindyblu99
    @lindyblu998 жыл бұрын

    excellent explanation :)

  • @Suwaniify
    @Suwaniify5 жыл бұрын

    Thank You!!!

  • @valenzc3
    @valenzc312 жыл бұрын

    how do you find TP (output)?

  • @Ligogoc00
    @Ligogoc0011 жыл бұрын

    Thank you

  • @thebashii1519
    @thebashii15196 жыл бұрын

    thank you a lot you help me

  • @majlindamanushi9057
    @majlindamanushi90578 жыл бұрын

    Thank you mate!!!

  • @jeanbulyaba
    @jeanbulyaba11 жыл бұрын

    Man, you are good!

  • @pascalketumile
    @pascalketumile10 ай бұрын

    You you didn't explain how exactly you plotted mp and ap🙄

  • @user-vk9co4bj8l
    @user-vk9co4bj8l4 ай бұрын

    Why did you not talk more about the dots ? instead of going fast over them w

  • @zeroizhar
    @zeroizhar12 жыл бұрын

    how do you get marginal product sir?

  • @j53iliff2
    @j53iliff210 жыл бұрын

    Cool vid, would you end up hiring 4 or 6 employees?

  • @not4yman

    @not4yman

    8 жыл бұрын

    6 employees

  • @williamharris1544

    @williamharris1544

    3 жыл бұрын

    @@not4yman 4

  • @leratolikhomo1649
    @leratolikhomo16498 жыл бұрын

    I like you my brother! Thanx

  • @arowolodavid1683
    @arowolodavid16832 жыл бұрын

    It's ok

  • @SubashChadara-ft2qn
    @SubashChadara-ft2qn Жыл бұрын

    🎉🎉🎉

  • @maazmalik6018
    @maazmalik60182 жыл бұрын

    9 years :D

  • @yohanjhaveri3271
    @yohanjhaveri32717 жыл бұрын

    1:00 Child Labour

  • @skylerwang8846
    @skylerwang88462 жыл бұрын

    "i use my students as labour" AHAHAHAHA comedic gold i must say..

  • @ahmedalam5048
    @ahmedalam50484 жыл бұрын

    9:06: hardest part

  • @zeroizhar
    @zeroizhar12 жыл бұрын

    tnx ^_^

  • @Sumanofficial-qf4nv
    @Sumanofficial-qf4nv Жыл бұрын

    Please explain in Hindi medium

  • @shahzainahmed9653
    @shahzainahmed96534 жыл бұрын

    you mean marginal profit , avg profit and total profit and not product

  • @tabithaneema2270

    @tabithaneema2270

    3 жыл бұрын

    No it’s product not profit

  • @Sumanofficial-qf4nv
    @Sumanofficial-qf4nv Жыл бұрын

    Hii

  • @realdvgarg
    @realdvgarg4 жыл бұрын

    When I read 2012, I think 2 years ago not 8.

  • @i3elieve
    @i3elieve10 жыл бұрын

    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