Exploring Equilibrium

[@andrewlittle9569]

I've invested time and money into many failed startup businesses since 2008(most recent being a mlm company a few years ago), so I've been in the field of finance & economics for a while, but some of the stuff taught in these lessons I've never knew before. Great tutorials!

[@michaelmodernsonicfan5341]

anything successful

[@lehijorgensen1063]

Your videos are so helpful! And not a total snooze-fest like my text book!! Thank you so much!!

[@MarginalRevolutionUniversity]

Thanks, Lehi! Glad they're helping you out. :) -Meg

[@andrewlittle9569]

hahaha

[@Simran-xn7ec]

Amazing explanation provided by you guys. I hate studying from the book so I watch your videos. So glad I ran into this channel!

[@MarginalRevolutionUniversity]

***TEACHER RESOURCES*** Supply and Demand 5-day HS unit plan: mru.io/apj Assessment questions: mru.io/principles-28017 More high school teacher resources: mru.io/high-school-13de4 More professor resources: mru.io/university-teaching-681bb ***CONTINUE LEARNING*** Next video-Does the Equilibrium Model Work?: mru.io/equilibrium-model-e4e4e Interactive practice questions: mru.io/okv Full Microeconomics course: mru.io/s42

[@GloriaRodriguez-vy1gk]

Thank you so much for the free economy lessons :)

[@sephy004]

I’m going to love these videos from now on. Thank you!

[@TheSnookerGym]

Great videos guys - very good. Why did you set up this channel by the way? I mean I went to your site and there is no chargeable products there so it seems you might be the most generous guys in economics if you truly are giving all this away!

[@MarginalRevolutionUniversity]

+nicbarrow Great question. We are a nonprofit, funded by a lot of generous donors and foundations. Our goal is to improve economic literacy.

[@TheSnookerGym]

+MRUniversity Fantastic effort. You are both so fluent and make it interesting and easy. Thank you for your contribution - I really appreciate it.

[@GloriaRodriguez-vy1gk]

Thank you so much for the free economy lessons :)

[@shubhamvyas3192]

Marginal Revolution University can you please make video on law of variable proportion

[@CharrizaJhoii]

This is just so useful for me now thank you so much!!!!

[@lemontoob]

This was a great explanation. Thanks.

[@kaseshib]

If the elasticity of demand is low and the revenue is higher at a certain price point than the equilibrium revenue, why would there be factors still pushing the supplier to lower the price of the good? ex: equilibrium for the oil is $70 and 68 tons of oil, but at a price of $75 the quantity demanded is 66 tons of oil. The revenue for the equilibrium would be $4760 and at $75 the revenue would be $5100. What incentives would there be from the producer to lower the price to the equilibrium level?

[@heivaphan1008]

At 75$, buyers will only purchase 66 MBD while sellers are willing to produce 70 MBD, this make me thinking of the extra fee for dealing with the surplus barrels when setting the price at $75. I'm talking about the 4 million barrel of oil (MBD) that can't be sold. What a producer gonna do with it? The scenario I came up with is that maybe you have to pay for a 3rd companies (like an ads agency) to help you promote and sell those excess barrels of oil. Although the producer gross 340$ when setting the price at 75$, they may have to pay an extra extra fee to handling those excess barrels.

[@Niglnws]

Maybe because the competitors will sell at lower price.

[@Niglnws]

In most competitive markets, firms are price-takers. If firms charge higher than prevailing market prices for their products, consumers will simply purchase from a different lower-cost seller to the extent that these firms all sell identical (substitutable) goods or services.

[@ilya8132]

I feel like the way I understand one things clashes with what I'm understanding about something else. My professor is too cocky to effectively answer questions, so I'll keep watching these videos in the hopes that something will click.

[@411162bunny]

Very useful. Thank you!

[@abdulmumeen1124]

Nice lecture.thank u!

[@acajudi100]

Thank you.

[@antonellac635]

SOOOOOO GOOOOODDDDDDDDD !!!!

[@saravanansaravanan-iq6cl]

Why the supply curve is not start from origin pls explain

[@lixiaoling102]

Nice video! Is the PPT slides available to download? TQ :)

[@MarginalRevolutionUniversity]

Thanks! I'm afraid this video wasn't actually made with PowerPoint, so it's not available in that format. -Meg

[@sivonparansun]

No practice questions available for this video??

[@MarginalRevolutionUniversity]

Here they are. Our KZbin annotations were a bit off. www.mruniversity.com/node/179642?PrinciplesAnnot&PQAnnot&MRUYTAnnotation -Roman

[@johnsullivan4019]

I recognize the Jules in Vincent reference. Calling it a Royale with cheese was the initial giveaway. Does that make me old?

[@arianaisalwayslonley11]

thankyou so much

[@esraaatwa3544]

Actually it's more than great

[@venkatachalapathibaskar5927]

Great.

[@052970]

"appointment book"

[@crystalpipermiller1519]

v

[@simonaguirre5885]

Soti this is too much 😭

[@tGoldenPhoenix]

Thank you