Kinked Demand Oligopoly (Excerpt from Class)

How the Kinked Demand model of Oligopoly explains price rigidity and the incentives for collusion in a market with few sellers.

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Lovely tutoring, Now I understand what this confusion is all about. I admire your teaching style.

[@TheWyvern66]

Thank you; the encouragement is very much appreciated. I hope to begin updating these videos shortly.

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Best teacher and a good presenter, I just love a teacher who curse lol

[@alicepetrov542]

I wish you were my teacher.You explained everything perfectly clear and only in 13 minutes.My professor was trying to explain that for 2 hours and she could not.I suppose that is what means to be a good teacher-not only to know the material,but to be able to present it and explain it to the students in a way in which they will undersand it and remember it.And you certainly did it. Question out of the topic-where are you teaching? In which university? Thank you again for the great videos and please do not stop making them.Have a great day :)

[@TheWyvern66]

Alice,Thank you for your kind comments!I teach at Santa Fe College in Gainesville, Florida. We offer two-year degrees and a few bachelor's degrees. I am teaching Management in our Organizational Management bachelor's program.www.sfcollege.edu/ for the college.www.sfcollege.edu/programs/index.php#bachelors_tab for the bachelor's programs.Take care,Roger Strickland

[@afsahshaikh9902]

Thank you!! my exams in a few days. Since this topic isn't very important in our course and with a scary graph to go with I was kinda stalling it. I randomly came across your video and suddenly even the graph doesn't seem so scary. Thank you so much for such an effective and efficient explanation.

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thank you so much this is great. The world needs more teachers like you

[@saphire700]

FINALLY. I understood what I have been looking for at 11:48 !!! Thanks a lot from the UK!

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I'm taking online econ and these videos help so much. Thank you.

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Awesome with no doubt fantastic, 13 mins and everything is clear. I recommend it.

[@MKS0496]

Really straightforward easy to understand explanation!

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He is a really good teacher! I like his teaching so much!!

[@natnaelbeede7281]

precise, brief, and simple to understand thanks

[@Azlanloco]

Thank you. I was late for class and this video helped me.

[@MrBigLinthehouse]

this man just made kinked demand curve look like its not not economics but common sense

[@sarabrown4312]

Final tomorrow and thought I was going to fail. THANK YOU!!!! Probably just saved my grade right here!

[@headr5811]

-Stupid? -Stupid! Leave the damn price alone! lol!

[@nbmufc94]

You sir are amazing. The elasticity of demand for you would surely be inelastic. The only thing I still don't understand is the additional marginal revenue curve and marginal cost curve added to the diagram.

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you were simply amazing..!! thank you..!! :)

[@aileen55]

you make it make way more sense than my econ teacher... thank you

[@Thelpping]

You are a life saver. Thank you very much, I mean incredibly much.

[@jikkumohan]

Detailed explanation and very clear. Thanks

[@JackLiuSuperHuskies]

thank you KZbin and for uploading it

[@thaikhyewayn6980]

First off, brilliant explanation. I wish you taught me economics. Second, my question is are these oligopolistic firms achieving allocative and productive efficiency? if yes/no, How do i relate it back to the graphs?

[@mortenandersen4873]

This is very well explained and funny too!! thanks Mr.

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I LOVE YOUR CLASSES.GREAT TEACHER

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Amazing, amazing teacher! I wish I had teachers like you!

[@newschoolexplorer]

I enjoy quantitatively interpreting consumer behavior. Is the kinked demand model a hybrid between the industry demand curve (inelastic/flatter) vs. the more elastic/steeper firm curve. I understand how the market responds to a competitors price changes, match price decrease and maintain customer based but I do not understand the kink model in reality. How does the an individual firm have information on all of its competitors prices?

[@dinarkurniati5923]

Very good lecture :-) Could you please upload some videos about Cornout model, Bernard Model and Stachelberg model of Oligopoly market? Thanks

[@TheWyvern66]

Those topics come with Intermediate Micro, a course I don't teach. Sorry. Time is one of my limited resources. :)RS

[@vaijinathbiradar7322]

Couldn't have been explained any better.

[@TheWyvern66]

Thank you. :)

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You're an excellent teacher

[@Bleedgoo1]

You, sir, are a God. Thank you very much.

[@RislaFazal]

THANKKK U!!!! Was stuck with a question on this! Thank u! Best teacher :)

[@ITHINKPLUS]

They will open a can of beer and laugh at me😂, please keep uploading more videos 😍😍

[@vaibhavbalodhi]

Dear sir .. why didn't have you draw MR=Mc the point of Equilibrium in this diagram

[@angelicnature1]

could you please do a diagram that will demonstrate what happens if two firms comply and agree to reduce output.

[@NightDawnDusk]

This guy may be econplusdals new competitor in youtube teacher economics

[@tgpnlyt7095]

Leave the damn price alone... :)) This lecturer is badass

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Very nice ! Good Job Done !

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WOW! he's really a good teacher!!!

[@mitchellatkins9628]

really solid explanation!

[@TheWyvern66]

@prasadkumarvoola When you add other products to the consumer's buying decision, you have abandoned the first precept of economic analysis: "ceteris paribus" - "leaving all other things constant." If you add other products to the decision to purchase oil/gas, you are dealing with a different market than just that for oil/gas. I am confused when you say "cost will be at the level with the sales." I enjoy this conversation; please elaborate.

[@francefrance6714]

thank you, sir, you are a great professor

[@lakernat1on1]

Great teacher!

[@wilsonleonardi5869]

hi, can you draw and explain when there is a large cost fluctuation and the company is force to increase the price

[@TheWyvern66]

IF - only if - the company decides it must increase price, it moves out of the 'kink' and then ...? Depending on their competitors' circumstances: if their competitors also have increased costs and raise price, perhaps they move to a new 'kink' price. If their competitors either do not have higher prices, or decide NOT to raise price, they move into the upper part (elastic) of the demand curve and dramatically lose sales volume, perhaps to the point of going out of business.

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Microeconomics can be fun :) Thank you

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Beautiful, thank you sir! :)

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very helpful

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Brilliant.

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excellent

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loved it

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KING

[@JackLiuSuperHuskies]

Thanks

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Nice

[@realest.4730]

👏🏾

[@prasadkumarvoola]

I think now a days no one is really cared about the price of the oil. What they are looking for is comfort and availability of other necessities at the gas stationi. Example if there are four stations at a junction where one is selling the oil with other necessities in its gas station when compared to other three for sure riders will go that station even though the price is high from others. Here you can see demand is not falling and cost will be at level with the sales.

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I wish that you were my teacher

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(arguably next to) opportunity costs the most important economic concept...is "Stupid" lol

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[@TheWyvern66]

You may contact me at [e-mail]

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Elliot Scaife

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[@igor.tryhub]

Very clear and comprehensive! Thank you!