Wage Determination in a Perfectly Competitive Labour Market

[@FanaticBro]

You should make a summary of A2 in just one video, that would be amazing!!

[@youcantseeme5489]

Yessss pls 😊

[@amritkhatiwada7883]

yaaaaaa try it plz

[@Matthew-me6of]

But he's already condensed the entire A2 syllabus into videos amounting to a fraction of the time it would take to learn it in an institution (190 hours). To condense a 190 hour course in one video is impossible.

[@gktube3328]

ok, offcourse

[@1RAGEACE]

@@Matthew-me6of moto

[@shrutidadhich1713]

Nice explanation, I understood it very well!!!

[@EnesiIngado-rk3fn]

i love this explanation , it has been of benefit to me

[@11crazytom]

If the total product falls from 18 to 17 when the fifth worker is hired, surely the MPP should be -1 and the MRP should also be negative?

[@yasminb6962]

Yeah, I think he made a little mistake in his calculations.

[@georgelin3752]

Well done. I like the better lighting!

[@lemmideme6160]

Thank You Nice

[@deongumbo3956]

Thank you, very much, for the video. It really helped a lot. Are there any text books that you would recommend I use for A2?

[@HarryPotterForAlways]

Is producing at MC (wage) = MR (MRP) then technically also profit maximisation (as well as revenue maximisation) for firms in a perfectly competitive labour market?

[@JamesWilson-ui1wg]

Yeh, surely revenue maximisation is where MRP = 0 and profit maximisation is where Wage = MRP?

[@tombaughan5924]

hero

[@21221sara]

i love these videos

[@wrestlingshow5806]

And I love you too baby

[@wrestlingshow5806]

😘 ♥ 💋

[@user-jx8xf2pk5c]

If all labour is homogenous, why does the MRP of each respective worker differ?

[@AnonymousAnonymousAnonymouz]

Each new worker contributes relatively less as fixed factors of production (ovens, dough, etc) are spread increasingly thin, so essentially each new worker has less to work with.

[@williamkim1415]

what about wage determination for monopsony?

[@EconplusDal]

Covered here my friend kzbin.info/www/bejne/d6HRmGxvdtejnrs

[@rheyadoshi3181]

what is tpp and mpp full form?

[@laurenngng]

I think TPP is total physical product and MPP is just marginal physical product

[@bustercrabbe8447]

How do you compute the crew pay in the fishing industry? Paid with a share from the net profit?

[@swizzler5554]

econplusdad

[@prashantkumar-tw7xk]

Hello sir.. Thankyou

[@ck_chinkeat]

hi there, just curious isn't wage determination regarding how wages are fixed. Meaning isn't the "wage" supposedly a variable which is to change. MRP seems more to be a concept describing the quantity of labour a firm will DD, rather than how a wage ,may vary per firm? If so why does the question in exams ask regarding wage determination? why not ask DD determination? Pls and Thanks!

[@pranjalsharma8960]

exactly my point.. i have an exam in a month plz confirm me whether this video is about hiring decision or the wage determination ?

[@21221sara]

is'nt the demand curve for the firms product horizontally shaped in a perfectly competitive market

[@callumjsc7244]

For a product market yes, where demand for the good = mr = ar. However, this is the demand for labour, not the demand for a product which is slightly different :)

[@21221sara]

ooo yeahhh

[@randomguyfrommars]

Saw Indian and never expected he will speak in european slang of english, very good explanation 😎😍

[@kamdinnewmai779]

British RP accent, I was blown away too. I've been trying to learn this accent for a while now.

[@kuldeepdussad3621]

Sir In what way we can translate your

[@kuldeepdussad3621]

Into Hindi