Micro 3.7 MR = MC Practice: Econ Concepts in 60 Seconds for Advanced Placement Microeconomics

Mr. Clifford's 60 second explanation of how to use the profit maximizing rule (MR = MC). Assume the firm is perfectly competitive and that the price is $20. Try pausing the video and identifying how much the firm should make and the profit they will make. Please keep in mind that these clips are not designed to teach you the key concepts. These videos are a review tool to help you better understand what you learned in class.
ACDC is Mr. Clifford's teaching philosophy:
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[@meno2739]

I was a baby when You made this and now 10 years later You saved my life

[@sydnamon5986]

Why are you doing econ at age 11?

[@scj6693]

Sydnamon he has to figure out the opportunity cost of going to the fifth grade

[@kakacricket]

@@scj6693 hahaah

[@sabeehabaako1696]

@@scj6693 🤣🤣🤣🤣

[@EMRANKHERALA-cb3ti]

That is funny😊

[@davekelly3394]

Damn 2009 this guy's been saving kids lives for a minute'

[@bychen5011]

9 years later and he's still at it

[@tanikawright2915]

I learned more you in 60 seconds than I have my whole semester in Microeconomics. You explain things in a way that students can understand. Great job

[@rachelnadya3302]

I am 23 hours away from a big test .. i have been trying to understand this concept for days, and you saved my life by 60 seconds .. AND YOU'RE FROM 2009

[@Worques]

"YOU'RE FROM 2009" the best comment 😂😂😂😂😂😂😂

[@JacobAClifford]

The theory suggests that MR in perfect competition is constant and MC will continue to rise because the law of diminishing marginal returns. The point is, there will only be one place where they meet.

[@Savorist]

It's so nice to see Mark Cuban's brother find his calling.

[@devoncoetzer2415]

You are awesome. My exam is tomorrow, and you've caught me up on 3 week's lectures

[@beneworld92]

I watched you back in 2010 when I was an undergrad and now I am back to you with MBA :'D Thanks man

[@shobsshobs4344]

Wow. Its 2023 and this channel has helped me so much ...thank you

[@pirintablet1980]

Two years ago I returned to college, and for the last year and a half, I have referred to your videos to help me with my college Economics classes. I'm not sure if you put these out there for your own students, or if you intend them to be for everyone, but THANK YOU for putting them out there nonetheless. They have been a tremendous help to me. They have been so helpful, in fact, that I feel guilty that I'm not paying for a resource that has been so valuable to me. Thanks again!

[@theresemccrossan9646]

Dude! I know this is an old video, but I've spent two weeks freaking out about how to "explain this in my own words", You just made that so much easier!

[@ravinandu63]

Your lectures are awesome to quickly grasp the concept. Great work ACDC. Great Mr. Clifford

[@MrAlf30]

Class lectures will die out . less than 2 minutes you can grasp way than a whole day lecture in class with a smart teacher. Thanks Mr Clifford.

[@TheJq32]

This bonus round was sick

[@eyjeymarquez5459]

thank you so much Mr. Clifford! You're God sent

[@Kritik728]

this teaching style is a flex

[@juansanguineti7346]

You have just saved my career in 60 seconds

[@BillyPullanScoot]

thank you so much I love you more than my dad

[@loldanz]

LMAO

[@sid98geek]

That's unethical, unless your Dad is a very, very bad man.

[@dtbjjrb]

Thank you sir! I always thought MR always had to equal MC, but then it hit me that as long as MR > MC, there's still a profit. I got confused on one of my assignments because I knew that the firm had to produce where MR = MC, but when I chose the output, AVC ALSO = MR and MC (I was stuck because I was taught that a firm had to produce where MR = MC AND was ABOVE AVC)! So thank you!

[@filiproman7309]

Perfect video, quick and clearly.

[@murilocastro872]

When that video was posted I was 8 years old haha. Thanks from Brazil!

[@demonovdeath5917]

background music TNT? :3

[@rough9448]

i laughed so hard on this excellent review keep it up

[@KZSouthGirl]

thank you!you are really helping and music at the backround makes it more not boring as at he lecture

[@lestermartis1990]

this video is just perfect which I was looking for

[@Icemonster8]

saving me so much with your videos thank you ! and i love the background track

[@rovercoupe7104]

The MC curve goes down, initially, because the more something is made the cheaper it makes to manufacture it, but costs then increase because the factory gets short of space or there is some other reason why costs go back up? Is this diminishing returns? Great video, thank you. M.

[@17aftertheburial]

thanks man, this helped a lot

[@StaLkeRInSidE]

why people are complain 'bout this video ? i think he has already explained good. or he made a wrong thing ? i don't know.

[@VantaSiyah]

wow maaan so quick. in my school it take many lessonns and still we cant get this perfect -_- ty!

[@MariusKevinIkuzwe]

Its been six weeks studying understanding nothing but this is wow. Now, I at least im back on track. But how do we have TC of 20 for ) quantity?

[@subhrajitchakraborty8170]

Thank you for this video, it's really helpful 👀

[@TheJq32]

this bonus round was sweet!

[@kakacricket]

Im humbled mate. u made this so easy i was sstuck on it and im doing the CFA charter haha

[@sun.sh.in.e]

The comments saying you save lives really weren't kidding!

[@kingpanda1]

Thanks so much! This was clear and concise. God bless to all!

[@ruthnyaboke723]

Hi, give a TC function and TR function, how do you calculate profit maximizing output, maximum profit and profit range output. Ruth

[@MotumaKaba]

short and easy way explanation...i like it

[@titojwonnie]

Damn that was fast...and I understood everything. Coooooolllll!

[@cinqueottavi]

@ACDCLeadership Yes,make sense.The condition MR=MC is meet wen the derivative of the Productivity Curve is equal to 0 and in you example is at q=4

[@Jsoldier22]

dude u rock. music is at a good volume

[@ysngsj0765]

Hi, this is really comprehensible but how about in Monopoly using MR= MC, how about this one? Pls help

[@maxstormhamburger3688]

Woww, thank you for saving my time and using few words. Please come teach my Micro-Econ class: They pay by the minute.

[@salsabilanuraini3244]

the most worth video ever

[@lnSignia]

Simply Perfect.

[@madcat4563]

After watching it a second time it made sense.

[@shahanayasmeen1767]

Great job

[@gstwenty]

Thank God for you!

[@Silver-ey2vx]

Such a life saver

[@user-xl6ij4or7b]

I'm so happy to find this video 😂

[@idilduygun]

WONDERFUL EXPLANATION BUT WHY DID YOU CHOOSE ACDC AS BACKGROUND VOICE I CAN'T FOCUS ANYWAY THANKS.

[@nikhilksanalkumar6908]

May be a dumb question, But why can't we produce 3 output. It will give us a profit of $30.

[@tomislavzulj4454]

This video feels so god damn good - 2009 nostalgia... great explanation nevertheless, thank you

[@evaforde]

u saved my life!

[@sujontube]

How are you getting $20 MR while the production level is set to "0" ?

[@raatkana5205]

Mr=Price

[@galimzhannarymbetov6455]

assumption

[@MrCountCoCoaFang]

What if MR goes back to being higher than MC after, though?

[@glebsevcenco1916]

Thank you

[@brandonj9651]

I dont get it. MR=MC. does that not mean that MR is the same value as MC? For example, 15=15? You stopped at MR>MC. 20=15? but 20 does not equal 15, obviously. graphically, they intersect at the same point, but for that to happen don't both values have to be equal? Wouldn't Q=4 be just before the point of equilibrium?

[@bobichina]

You are awesome, I love the way you explain things!!!! But the background music is not.

[@darshanshah5760]

60 seconds save 60 minutes , lots of thanks to you my freind , Iot of thanks

[@Mzqueenb1028]

Hello, I have a proplem in my class that askes me how many cases should be produced inorder to mazimize profit. Case is $42.00 and MC=.006Q. But we dont have the total cost to help calulate the Marginal cost. what to do how do i calulate the MC, to find out at what Q to maximize the profit at. HELP...Queen, hope to here from u soon.

[@tiktokviralvideostrends3985]

sir why is the MC =MR curve in a perfect competition

[@MrHovanic]

ok really great vid. but what is MI??

[@thefishdyenisus1326]

and done ! thanks

[@kmsubbu]

Case is $42 -- if you sell one more unit of case, you get 42 bucks. that is your MR. You are given with MC directly. MC = 0.006Q where Q is the number of cases produced/sold. MR = MC --> 42 = 0.006Q Solving for Q, we get Q = 42/0.006 = 7000. That means, for maximum profit, you will produce and sell 7000 units. Note that you are given with MC -- that means, you do NOT need TC...

[@SlashKidGuitar]

Thanks!

[@cibga]

kindly make a new video on this topic

[@lilyxu-bj1eb]

omg14years ago, i wasn't even born yet...can't imagine

[@divinitytarot6]

Thanks Sir

[@ArmakesCorner]

omg he goes way back

[@Versulas]

So awesome XD

[@InvaderBizkit]

Holy shit this guy's awesome

[@usmansaleemqureshi121]

but the question is to prove MR = MC , hows that equal ?

[@ddelfao]

I believe it's that dot he wrote on the board, the crossing between Mc and the Price. We know that P=Mr because in perfect competitive market, the firms are price takers, which means that they dont choose the price. Hence, Mc=P aka Mc=Mr. (I think that's what he's trying to explain)

[@brandonj9651]

P=20, and MR=20. so if MC=P then it's 20=20. but he stops at MC=15. He stops at 20=15, which is not equal. I don't get it.

[@undefeateddiamond4857]

@@brandonj9651 when Mr=Mc, profit is maximizing. So in the case of perfect competion Mr=p, so at an output of 4, p 20 mcmr so the firm profit is maximizing at output 4.

[@nickowens9563]

Hey somebody call the fire department on this guy! He's burning through these problems!

[@giorgiomucciacito5979]

U r my god!!!!

[@Chumpsism]

lol, not a lot of AC/DC fans :/ thanks! very clear

[@doriangrae4790]

i really like your videos, they're very helpful, but in my humble opinion the background music is distracting..

[@rsadsultanov3071]

Yes it is

[@henrysanson8764]

this guys an electric factory

[@lonewarrior601]

@corea01 - check out Sparknote's micro sparkcharts and Cliffnotes has some good descriptions - also, check out gewalker72 - I've been using both of these video series, and she breaks it down really nicely. Hope that helps! :)

[@user-zz9de6dg1g]

You saved my ass and time. Thanks

[@sushantambardar5095]

🙄🙄🙄🙄 whoah i dodnt even knew but I even understood it

[@user-lt9gt7dk7l]

watching this in 2021

[@bigmaczac420]

if u see you on the street im gona give you a hug

[@letetter]

if u rush u don't nobody to understand what you are really want to tell us. this for people that already know the course

[@vwls100]

You beautiful man.

[@nurlansalam1702]

background music is so irritating, otherwise i love the tutoring

[@LorenDrums3]

Don't be hatin' on AC/DC, bro.

[@BengVideo]

You rock but the music is a bit annoying

[@BrentLarryproduction]

why is this a rush? isn't the whole concept of tutorial videos on KZbin for people that do NOT understand the content??

[@w3lloverwh3lm3d]

+BLP I believe that Mr. Clifford is going through the concept so quickly in order to simplify the concept so it's easier to review from. Also, i think its easier to understand his videos if you have slight knowledge of what hes talking about.

[@mgladish8673]

Its for kids like me who need to cram study for the AP exam

[@differentperspective5093]

why rush bro? Music plus rush = no bueno!

[@michaeldever9055]

You didn't show how to calculate Mc

[@NiallWatchorn]

sorry to rain on your parade but that was actually 80 seconds :-( you started the stopwatch at 0:28 and said done at 1:48 :P

[@rachelt5887]

You are only explaining that profit is highest where MR ($20) > MC ($15). Does not explain why profit max is at MR = MC. Not matching the title of the video. Guess 60 sec is not enough for that?

[@tshepobrian9369]

You're just showing off, this is not helpful to students at all, it just shows us how good you're.

[@alibutoo3026]

sir plz say slowly and with Full pronounciation .we are not understanding fully

[@MrPhrico]

lose the music :P

[@tumblrhilomak8740]

Ono kad u jednom videu naucis vise nego za osam sedmica na EFSA....

[@evakhukhashvili8236]

mikvarxar ubralod mikvarxar

[@kawaiisrs07]

I like his videos but I wish he didn't go so fast. Why does it have to be 'under so many seconds'

[@miltonfriedmann2664]

çş

[@katalyst552]

Too fast. Gotta slow down.