Marginal Thinking and the Sunk Cost Fallacy

[@MarginalRevolutionUniversity]

Get our FREE Intro to Economics unit plan: mru.io/q31 Continue learning with practice questions: mru.io/zdf Watch the next video: mru.io/y3d

[@jvb5590]

YES!! Please make more animated videos on economics! Your animated economics videos are at this channel's roots!

[@kangre63]

So glad you have restarted your videos. Yours is my favorite educational economics channel ever. I have watched many of them over and over. I always learn so much from you. Thank you ! Keep up these excellent videos.

[@hughbarton5743]

Great video. If you would like to observe the fallacy of sunken cost need only visit the user car area of your local car dealer! I was in management in that field, was well regarded in my market as being a fixer. Here's the scene: At virtually every place I've ever run, I found that my predecessors had at least a couple of units that had been in stock 1+ years! (Ideal number: 20 days or so....) Upon questioning, I usually heard some variant of: "if I wholesale it now, we'll lose thousands!!!!!". Bad News: you already lost it. Plan: go to next auction in area, sell car. For whatever you can get. DO NOT bring it back to the dealership... Astonishing how often this screwup was repeated... Well, kept me very employable.....

[@lmqs94]

I miss these type of videos. Economics is my second love.

[@ManisharaniKadraka]

Thanks 😊

[@lissim82]

Fantastic way of explaining concepts.

[@dp6943]

Comparing Marginal cost to Marginal benifit Optimal decision Marginal cost = Marginal benifit What not think about Sunk cost fallacy Sometimes you have to lose to in order to win When make choices think about cost and benifit that change with choicen Ignore sunk cost

[@jacklin2605]

Why MB=MC is optional? I thought we should maximize MB & minimize MC

[@JacobALibra]

Love these videos! The editing is top notch!

[@betterthanmyrealname9601]

Nice to see you again Alex!

[@KateScott-gi3wj]

GREAT JOB!! MB > MC

[@LibertyAnd1776]

I love these educational economics videos.

[@rayhanchowdhuryriaz6044]

আপনারা কোন সফটওয়্যার ব্যবহার করেন ভিডিও এডিট করার জন্য? which software do you use?

[@bibilistic]

I just found this channel. I was searching for "Efficient Market Hypothesis" when i found your video... I think your videos are terrific. Thank you.

[@monicagilbert1065]

Great video! Thanks for making these concepts so fun!!

[@sourabhmayekar3354]

Nice

[@LabelsAreMeaningless]

Never encourage gouging. Every company needs to stay in the black with enough towards costs and growth, but hiking prices far beyond that is predatory and opens up paths for competition to undercut your pricing. It doesn't help you or your customer in the long term.

[@tinyleopard6741]

That's the thing, you don't know what's far beyond for "costs and growth". Try the idea out, a small business of your own, like selling coconuts, lemonade, tofu-based drinks, or what counts as street food drinks in your local area, the ones with low startup costs.

This is a deep emotional and rational video, not an economic one. and I love it

[@bogdankhudoidodov6866]

who are you???? Why is it so good and free?????

[@sjaoenvf]

SCF. so profound. thank you.

[@Friedrich291]

Why any of my teachers can put it so clear as you?