Determining the Efficiency of Firms in Different Market Structures

[@floriantkambaja1014]

wow , I'm really impressed by the quality of teaching shown in this video ,you make this topic so much easier to understand and it helps me a lot in revising for my exam

[@realdvgarg]

Yes he is quite the perfect teacher for any economics course and beyond. Many teachers are not able to make real-life connections whereas applications and interpretations are very important in the ever-expanding world economy. Mr. Welker is indeed one of those rare economists and I'm sure he's up to great things!

[@randomindex9359]

I really admire the last segment of your videos in which you connect the theoretical concepts to the real world. Thanks Sir !

[@jackdavis8596]

Terrific explanation. I tutor students in this subject and these videos help me refresh my knowledge before our sessions.

[@alexandraboskovic8157]

You're an incredible teacher, thank you for your thorough explanations!!

[@academia5618]

Hei Jason , I really liked the way you described it .Can you tell me the which the least and most efficient imperfect competitive market and why ?

[@paroshrahman7474]

Thank you so much for this video it is really informative.

[@danialsyakir3939]

Thank you so much for this! cleared most of my doubts for this chapter:)

[@katharinabeck7709]

HI, why does marginal cost intersect at minimum average total cost curve?

[@alyssawong8750]

it helps alot..finals tomorrow!

[@mingfengqiu8295]

Hey Jason. I'm having some problems with the productive efficiency in the monopoly graph. You said a monopolist will not be producing at min ATC, but what if the demand curve is highly elastic and the profit-maximizing quantity where MC = MR happens to be at min ATC level? Thank you.

[@JasonWelker]

Sure, in that case the firm would be productively efficient.

[@mingfengqiu8295]

@@JasonWelker Thank you so much because all the textbooks I've read never mentioned that.

[@mingfengqiu8295]

@@JasonWelker One more question when you said P>ATC so the monopolist is not being allocatively efficient, were you referring P as the cost of production? Or is it the price consumers have to pay? Thanks.

[@gollavillihari2516]

@@mingfengqiu8295 p refers the price consumers have to pay.

[@NazKam]

how come there's no oligopoly?

[@QIAN-dc2zh]

IMPRESSIVE! how about the oligopoly market structure?

[@jackfrancis1475]

Awesome! Another great video Jason, your work is much appreciated and infinitely useful.

[@tadeletizazu3387]

Thank you so much , it is very nice.

[@suhasjoshi195]

Great.thanks.

[@ericpham9106]

Technology limit efficient or increase efficiency base of public fear and intellectual property

[@damounkaoutar538]

thank you

[@SpaceFlye]

Good content, just need a better microphone.

[@mahadiarian9093]

why productive efficiency is not possible without allocative efficiency

[@gollavillihari2516]

It is possible. The only condition for productive efficiency is that the firm should produce output where there is minimum total cost. Ie intersection of Mc and atc