Пікірлер

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  @asdcsd268224 күн бұрын

  Short and good thx

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  @MattBirch23 күн бұрын

  @@asdcsd2682 my pleasure! Glad you liked it!

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  @MattBirch26 күн бұрын

  You are overcomplicating it. My x* values are the solutions and do not have any unsolved or endogenous variables in them. They tell you x1 and x2 as functions of model parameters. This means a simple comparative static of model parameters works. If p1 changes, then the optimal x1 changes by a corresponding amount. Hope that helps.

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  @SujanChakraborty-s3u26 күн бұрын

  This is incorrect. If the price(s) or income changes, the consumer's optimal demand changes through changes in all first order conditions. You need to differentiate each of the three first order conditions, then set up these equations in matrix form and finally apply Cramer's rule to solve for income or price effects.

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  @guillermomendoza297328 күн бұрын

  Great Explanation, very helpfull for my course of Environmental Economics and Governance. Greetings from Cologne, Germany.

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  @christineadhiambo2896Ай бұрын

  thanks a million,

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  @MattBirchАй бұрын

  @@christineadhiambo2896 my pleasure!

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  @guedes_1332 ай бұрын

  Obrigado pelo vídeo!

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  @MattBirch2 ай бұрын

  De nada!

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  @Saranjot-zh1ow2 ай бұрын

  Sweet spot = g sp*t 😂

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  @nazifatasnem50012 ай бұрын

  he deserves 1M subscribers

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  @MattBirch2 ай бұрын

  Haha, I wish! But thanks!

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  @woodenlasse2242 ай бұрын

  Thank you so much, for the explanation! coherent and articulate

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  @MattBirch2 ай бұрын

  Glad it helped! Good luck!!

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  @zacharyaziz10342 ай бұрын

  Thank you so much

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  @MattBirch2 ай бұрын

  You're welcome! Good luck with micro!

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  @ATOTREVEALS6762 ай бұрын

  Really nice

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  @MattBirch2 ай бұрын

  Thanks! Good luck!

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  @theosungminjeong62512 ай бұрын

  Hmmm, I thought that in this case there is no best response for firm 1 because it can get infinitesimally closer but under MC2 = 20 such that the infinite limit of p1 converges to 20.

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  @MattBirch2 ай бұрын

  Yeah in pure Bertrand the gap in the best response is infinitely small. I find people are more likely to understand it if you describe it as barely undercutting the other price. Semantics about the magnitude of the gap aside, that is still a best response function. My response is to beat your price by the smallest possible gap, conditioned on my price being greater than or equal to my MC.

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  @pedrocolangelo58443 ай бұрын

  Absolutely great! Thank you for sharing it with us, sir

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  @MattBirch3 ай бұрын

  My pleasure! Happy econ-ing!

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  @roediting79933 ай бұрын

  Thanks Brother ❤❤

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  @MattBirch3 ай бұрын

  My pleasure!

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  @sussedoutandpissedoff54483 ай бұрын

  Hey, do you have a GitHub account? I am trying to do this with a dataset consisting of 100,000 people segmented into three groups. Wanna join?

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  @momotaakter75893 ай бұрын

  Thankuuuuu

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  @MattBirch3 ай бұрын

  You're welcome!!

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  @aswanism3 ай бұрын

  Fantastic! Thanks a tonne!

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  @MattBirch3 ай бұрын

  Heck yes! I still use this instead of the fancy stuff!

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  @ambersingh31753 ай бұрын

  watching from india love u sir we respect u

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  @MattBirch3 ай бұрын

  Well Amber, this comment made me smile! Thanks for the kind words, and I am glad you liked the video!

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  @ambersingh31753 ай бұрын

  @MattBirch you are a great teacher we need more teachers like you, you are very kind and very informative and u sound very sweet i love u soo much. 💯💯❤️❤️ I am turning 16 this year but never met a teacher like u

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  @gracelau26373 ай бұрын

  Thank you soooo much , really appreciate it❤😊🎉Your teaching really helps me . Solve the problem I used a lot of time to think of .Don’t want to make comparison,but your explanation in video ways is clearer than my tutor write a paragraph explaining.😢Finally,I know how to do these questions.

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  @MattBirch3 ай бұрын

  Yay! That is awesome! Glad it helped!

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  @anapaty96303 ай бұрын

  amazing serie of videos for learning! :)

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  @MattBirch3 ай бұрын

  That is great to hear!! I find that just getting started in a new language is often the hardest part, so I am glad you found these useful!

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  @thetanman68033 ай бұрын

  very helpful, thanks

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  @rishitmittal13343 ай бұрын

  What does it mean if mb is bigger than mc is it good or bad for economy or it shows free riding problem

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  @thetanman68033 ай бұрын

  really helpful

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  @MattBirch3 ай бұрын

  Good! And good luck!

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  @TegenehailemeskelGebre3 ай бұрын

  Thanks more

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  @MattBirch3 ай бұрын

  You're welcome! Good luck!

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  @TegenehailemeskelGebre3 ай бұрын

  @@MattBirch tanks for talking me have a nice time

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  @Summer-zb8rw3 ай бұрын

  this is an amazing video, awesome explanation!

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  @MattBirch3 ай бұрын

  Glad it helps! Happy econ-ing!

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  @solo48403 ай бұрын

  This question had been hurting my head for 1 hour plz help i legit dont know what i mdoing wrong Consider a Bertrand duopoly where market demand is P(Q)=2-3Q. Each firm faces a marginal cost $4 and a fixed cost of $6. what is one market price that can occur in a Nash equilibrium? This is the hint that is given:In a Bertrand with fixed cost, NE is when only one firm operates in the market and the other produces zero. The one that is operating produces at the monopoly price. What I did was since it says we will charge monopolist price i set MC of 4 equal to MR which is 2-6q and got -3 as Q. HELP PLZ EDIT: UPDATE A LOT OF OTHER STUDENTS IN THE CLASS ARE SAYING THIS QUESTION AS A MISTAKE OR TYPO IN IT!!!!

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  @MattBirch3 ай бұрын

  If there are fixed costs, both charging P=MC will mean they both lose money. Not an equilibrium. You have the right idea. If one firm is gone, the other can do monopoly pricing. You are also right that this setup leads to a negative quantity. If you think about it, the mC is higher than the highest part of the demand curve. Neither firm is capable of turning a profit, even if the other is gone. Hope that helps.

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  @Coast2Curb3 ай бұрын

  Thank you so much for this video! you just saved me on one of my assignments.

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  @MattBirch3 ай бұрын

  My pleasure!

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  @solo48403 ай бұрын

  I LOVE YOU

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  @MattBirch3 ай бұрын

  Awwe that's sweet! Glad you liked it!

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  @solo48403 ай бұрын

  @@MattBirch just a quick question for type of duopoly we dont consider marginal revenue right?

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  @MattBirch3 ай бұрын

  @@solo4840 marginal revenue is always relevant to profit making decisions. It can look different though. For instance, with Bertrand it would actually be a function of p instead of q, so we often ignore it and just logic through the price vs cost comparison.

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  @solo48403 ай бұрын

  @@MattBirch alright thanks so much!

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  @maxbegun38983 ай бұрын

  beast!

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  @MattBirch3 ай бұрын

  Haha, glad you approve!

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  @taziblessing93054 ай бұрын

  You way too fast😢😢😢

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  @MattBirch4 ай бұрын

  Yeah it is a lot. But I suppose you can either fiddle around with playback speed or just pause a lot. 🤷 Good luck!

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  @BB-fp9ce4 ай бұрын

  Soory, why borrowing money is negative net export? I'm borrow and get money, and I have good ans services which I can sell also🤯

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  @deborahspogter1064 ай бұрын

  Thank you this was incredible and informative

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  @MattBirch4 ай бұрын

  I am glad you liked it! Good luck!

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  @poseidonm74 ай бұрын

  good vid, used it to explain strawmanning to my lil bro.

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  @MattBirch4 ай бұрын

  Glad to hear it! Nice work!

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  @blackbird49503 ай бұрын

  Thank you Matt this was helpful

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  @samtheham12804 ай бұрын

  you sir... are a life saver thank you so much king!

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  @MattBirch4 ай бұрын

  Glad you liked it! 😁

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  @sebastianodalsie76874 ай бұрын

  If we have a percentuage subsidy, the exercise as it should be carried out?

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  @MattBirch4 ай бұрын

  Same idea. You could figure out the dollar value of the percentage subsidy and use these steps exactly, or you could get a little more creative and add a ratio into your setup. I'll leave that to you. Good luck!

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  @sebastianodalsie76874 ай бұрын

  Ok so for example if I have a subsidy for producer and consumer of 70% of the total expenditure of a certain product or market. How should I construct supply and demand functions?

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  @MattBirch4 ай бұрын

  @@sebastianodalsie7687 well the equilibrium price is constant right? So I would compare subsidy percentage to that . Hope that helps, but I also don't want to help too much with your work 😁

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  @sophiejayawindgaetter7154 ай бұрын

  I’m watching this video as help for a problem I’m having when prepping for my micro exam, could you maybe help me out the problem is=TASK 2: Equilibrium. The demand for student apartments is given by Q=1000-P/2, while the supply is given by Q=P/2. a) Calculate the consumer surplus, the producer’s surplus, and the total surplus. b) Suppose that the rent price is set at 600 Euros by the local government. Calculate the consumer surplus, the producer’s surplus, and the deadweight loss. c) Suppose that the rent price is still set at 600 Euros by the local government, but at the same time the government pays a subsidy of 200 Euros to the owner of each house that is rented. Calculate the consumer surplus and the producer’s surplus.

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  @MattBirch4 ай бұрын

  This one might be more appropriate; kzread.info/dash/bejne/dm2ixbSsl7naeKQ.html

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  @MattBirch4 ай бұрын

  Or this: kzread.info/dash/bejne/oYenktZ7dKXAac4.html

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  @You_are_so4 ай бұрын

  How do you find optimal combination of goods using indifference curve approach?

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  @MattBirch4 ай бұрын

  Not sure exactly what you are looking for but I bet something here will help: Utility Maximization and Cost Minimization Videos: kzread.info/head/PLWd1brOYtkZWY-hCZ-7Sm3BQi-wqRw9Nu

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  @hahawomen14 ай бұрын

  hellos can I ask why do you double the slope?

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  @MattBirch4 ай бұрын

  Sure. It comes from the calculus if you have a linear demand curve. The derivative of q(a-bq) is a-2bq.

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  @sussedoutandpissedoff54484 ай бұрын

  What happens if the firms chooses quantities instead of prices and can crammers rule be use to solve this?

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  @MattBirch4 ай бұрын

  I am afraid I don't even remember Crammers rule. In general, if they are choosing q, differentiate with respect to q instead of p. Depending on your setup, the steps should be somewhat similar.

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  @honeytoosweet5 ай бұрын

  May I ask, Why the q became q² in -200/q²?

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  @koningsberg5 ай бұрын

  Makes so much sense!!!

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  @koningsberg5 ай бұрын

  I was completely lost till i saw your video. How on earth more people didn't post a video about this. Thank you so much sir you explained the whole situation so well!

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  @MattBirch5 ай бұрын

  I am glad to hear it! Good luck!

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  @StroInTheShell5 ай бұрын

  This was excellent. Thank you sir

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  @redwings025 ай бұрын

  @MattBirch, love the video. Very useful for what I'm working on. Question though: since the R-Squared for the IV model is so low, are we still able to trust the slope coefficient and thus PED? How high of an R-Squared do we need to have a reliable demand curve?

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  @MattBirch5 ай бұрын

  Totally depends on context. The r squared can be higher than my little toy example of course! You can construct proper confidence intervals in an IV framework,and from there it just depends on what you need. But if you have confounding or endogeneity in your model and do normal OLS, it won't usually matter what the r squared or CI is. Because the model will give you an estimate that is biased, even with large data sets.

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  @rijunath30365 ай бұрын

  sir, csn i ask you a question?

• 
  @MattBirch5 ай бұрын

  Sure, but no promises. 🙂

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  @rijunath30365 ай бұрын

  @@MattBirch are phd in Eonomatric?

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  @MattBirch5 ай бұрын

  ​@@rijunath3036almost. PhD in economics, with a focus on econometrics.

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  @rijunath30365 ай бұрын

  @@MattBirch one of my friend did masters in Economics. NOW he wants to do phd in econometric.

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  @rijunath30365 ай бұрын

  i also want to be data scientist. can you give me your valuable suggestion, how to start learn and which topics i will cover for it. I am masters in Computer science and engineering. my future target is to do freeleansing as a data analyst.

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  @rubydoeleman41295 ай бұрын

  Hi Matt, how do we get the first term 10/N in the total cost function Lt/2N + LM + NF = 10/N + 450 + NF? Shouldn't it be Lt/2N = 90 * 4 / 2N = 180 / N? Obviously, this gives us an incorrect outcome. However, I don't know how to get to the correct answer 10/N.

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  @ria044665 ай бұрын

  Thank you thank you thank you!!!! Now I finally understand how to draw ICs. No book, no video, no tutor made this as easy as you did.

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  @MattBirch5 ай бұрын

  Glad to help! Good luck!!

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  @lisagreenpope29385 ай бұрын

  Great info- just enough to actually get up and running, and then figure all the hard stuff out later. Thanks!

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  @MattBirch5 ай бұрын

  Glad you liked it! This stuff can be nuts when you are first getting started!

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  @cisyjin5 ай бұрын

  very helpful！

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  @sussedoutandpissedoff54485 ай бұрын

  Hello, I have ben watching your videos religiously, they are a gem. Is this whole playlist a standard IO course in order?

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  @MattBirch5 ай бұрын

  Glad you are liking them!! I wouldn't say it is a full IO course, but everything in the playlist should come up in an IO course. Probably in this order, but no guarantee.

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  @sussedoutandpissedoff54485 ай бұрын

  Thank you very much for your quick response. @@MattBirch