Monopolistic Competition

[@whoagloria]

I can't tell you how much I appreciate you putting up this video.

[@MsAlimajeed]

Thank you so much. My economics teacher sucks. You taught me this in 20 minutes and my teacher can't explain it in two whole lessons. What's the point of college if you're self teaching everything. Sigh

[@koyoali65]

Feel you, bro.

[@gollavillihari2516]

The don't go to college. Study at home by watching these tutorials.

[@koyoali65]

@@gollavillihari2516 yup the KZbin degree has a lot of clout I heard...clown!

[@AcidicLyricz]

very difficult to teach without physically being there, but this video was very clear and concise. Good Job! i got all my questions answered and i didnt have to raise my hand

[@VicSMeIsTeR]

Much obliged, Jason. It helped me a lot. Wish you all the best, Cheers!

[@josiahzhou6382]

you make economics more interesting, you are great,

[@XxGeminiAngelx]

This is great!!!! Thank you for the explanation!

[@mthlaxer]

These videos have saved me on my final!

[@kip99283]

Best economics teacher

[@nanciesta8678]

This is great,,, thanks for the explanation

[@zippylopp7314]

you sir is beautifu! keep making videos!!

[@harshbhushan7094]

I would just like to say- Thank you sir

[@Thebennageserric]

Very insightful. thank you!

[@yugendranmurugiah7705]

Thank you Sir. It was really helpful

[@MegaDillpill]

Great video, thank you. Subscribed.

[@gulnaarturiyan7499]

ur lectures are simply great please keep on uploading more lectures on curves its a very sincere request please upload

[@momohuntshar]

good explaining (: better than my teacher

[@lakhamameir7885]

This is awesome, thank you for helping me 😙

[@emperoroffinance7496]

Love it! 🇿🇲❤️🇿🇲👌.

[@AshokSingh-mm5lw]

Excellent

[@nkingp23]

When it comes on the market it is the only mex restaurant, and it works on monopolistic principle, but when other restaurants start producing mexican food, the demand for our particular restaurant has fallen. This graph describes the demand for our mex.r. But on the whole food market it increases supply of food. but this isn't what this graph represents

[@lucasmatarazzo6428]

An increase in supply will then cause a decrease on demand. This is because the restaurants are substitutes to each other.

[@damithSL]

Brilliant - simply brilliant!

[@shramayen9512]

Excellent keep it up

[@ermiaikenjr7457]

I'm having my mocks in a few days lol. Thank you for the explanations

[@camille_vrd]

That really helped me thank you

[@sujayshegde]

Excellent teaching sir. Thank U .

[@mrmalone9316]

your a life saver . big up you

[@acsas5973]

Thank you for this, super detailed and easy to understand. you just earned a new sub

[@smiilee2001]

Thanks you saved my life

[@smshahriar997]

wonderful presentations!

[@bsr1068]

Thank you very much, you made the topic so easy to understand.

[@joytie7009]

this exactly my reporting in our school this a lot of helps thank you prof.for sharing

[@arabellesss1990]

Thanks!! So helpful.

[@cyanabernathy3446]

extremely helpful, easier to comprehend now. Thanks :D

[@nancybutola5473]

Thank you so much !

[@xXAmoureXx]

THANK YOU SO MUCH!!!

[@FutureAttorney80]

This helped me out so much. Thanks.

[@apekshakumar5878]

such efficient useful amazing video

[@exlc16]

Very good vids, Jason! :)

[@javeedmohammadvlogs2124]

I learned a lot from this videos

[@mickel1470]

This is fantastic. Thanks so much!

[@shuyuzhong7692]

thank you. your video helps a lot!

[@JoshTizza1]

Very Helpful Thanks!

[@directto05]

hmm, doesnt the entry of new mexican restaurant causes like increase of supply rather than decrease of demand? please i need your answer to this. thanks.

[@NeverGetThisBOOMm]

What is the intro song?

[@stepfen1]

this video rocks!

[@alyssawong8750]

great vid

[@miamu7593]

Thank you very much. This is really helpful. :)

[@Ecoinspire2023]

sir please make a series of mathematical economics

[@chedbeckford8067]

Really helpful thanks mate

[@yaoifangirlful]

Very helpful: it was descriptive, audible, and to the point. Thanks

[@mellyp6969]

but what if the firm continuously differentiates its products, would it avoid the flattening of its demand curve?

[@spikirifx7060]

thats awesome

[@gadz8843]

thanks for the help!

[@thelstan8562]

Thank you, very helpful!!!

[@bobbydelorisconrad]

Thank you...

[@SaCrunch]

Thank you so much

[@shikebhashimi6430]

thank you very much: it really helped me

[@jaypalsharma3011]

this helped a lot, thanks!

[@MsBash99]

sir is it wrong to take MR on y axis rather thn price?..what is the point in taking price when u r comparing MR to output...for eg in demnd curve v take price n qty in y n x axis respctvly..which makes sense as there exit a indirect relationship btwn the two.

[@ayahassanfadl7898]

It's more than perfect , Thank you :D

[@alexandroadoe5398]

Thanks a lot

[@franceszhang1999]

ur the best!! This helped me so so much. :) THANKS

[@mannyelizondo6721]

Is econ a good major?

[@benzola4808]

I don't know, bro.

[@alieumboge7946]

Yes bro.

[@lokkahou5489]

thx for the help!!!

[@odanetaylor-hue5836]

what about efficiency in the short run?

[@aakashpatel2755]

Thanks! helped alot!

[@yuanchi9662]

THANK YOU!

[@zephyrus057]

thank you

[@daoujadd9141]

but could the initial Mexican restaurant find a way to gain profit by re-monopolizing itself? IE: innovating it's product?

[@TrangHoang-nk7we]

Can you guys explain to me in a logical way: " Why does MC=MR in perfectly competitive market mean maximizing profit?" and " Why does P > MR = MC in monopolistically competitive market?". Thank you so much!

[@janetwilkinson5404]

MR=MC in perfect competition because that is the max point at which buyers are willing to pay. Firms in the perfect competition are price takers meaning they get there price from the market if a firm charges above the market price no one will be willing to buy the product and they will just go to another firm who is selling the same product as you.

[@janetwilkinson5404]

Thus meaning there would be no reason for a firm to sell below mc=mr because consumers will buy just as much at the market price.

[@janetwilkinson5404]

And P>MC because in monopolistic competition firm charge different prices for the same product depending on what category the firms puts you under this means the firm will make more than mr=mc because the items being sold are not easily resold so the consumer doesn't have much choice but to buy it from the company. An example would be airline tickets because business people are willing to pay more because they book flights last minute and dont mind paying extra to get on the next available plane asap.

[@janetwilkinson5404]

Also it is hard to resell airline tickets because they have the persons name on them and requires id when using the ticket that is why the consumer must buy ticket directly from company and the company can charge what ever they like because there are less options

[@TrangHoang-nk7we]

thank you!!!!

[@stan5250]

Merci Vielmal

[@gabriella5425]

thank you!!!!!

[@mandlangobeni2185]

Thank you so much !!!!!!!!!!!!!!!!!1

[@lifewithlana4604]

Great video! Thank you! :)

[@subinraj100]

Thanks

[@ashleytisdoll]

Thankyou !

[@musicluver95100]

thank you so much! :)

[@hhhsks]

What do you mean when you say that there will not be 'economic' profits? Does that mean super-normal profit?

[@vedantsood3848]

Yeah, profits above and beyond normal cost. economic and supernormal profits are the same.

[@hhhsks]

Thanks :)

[@bananian]

what's accounting profits?

[@sjarimartokusumo8083]

Thanks... it's really helpful

[@JeremyCouitinho]

whats that song in the begining

[@JeremyCouitinho]

+Juan ignacio Bontá thanks :)

[@zainfarooqzainfarooq]

why would there be no profits in the long run? :s

[@mtvrdeich]

i get everything, just not the reason why mr is below demand? and also why in perfectly competitive markets does P=MR=D, and here theres two different lines for it, when in perfect competition there was only one line

[@kenleykerr1158]

p=mr=d reason- this is because of the horizontal demand curve. im a perfect competitive market, the price is set where supply meets demand which is the equilibrium. therefore the demand curve is going to stretch across from price through the equilibrium horizontally. firms produce where price = marginal revenue

[@Havanawoodscigars]

I love you bro!!!!!!! All your help is excellent!! One Thing,,, & I know it's awful,, please keep in mind people have trouble with videos over 20 minutes long!! I cannot download it and listen!!

[@monicarutanhira8896]

life saver.....

[@saifkhashoggi3481]

we get it enta cash ya zurich

[@bananian]

so why do ppl open restaurants if no profits can be made in longrun?

[@gollavillihari2516]

Because firms have no incentive to exit or to stay. Zero economic profit does not mean zero accountant profit.so firms continue to run.

[@sarasaeed1213]

ياريت لو كان مترجم

[@komalzehra7524]

why demand curve is above then Marginal revenue??

[@mahadiarian9093]

because marginal revenue will decrease as demand decrease but at a faster rate

[@Superballer45able]

Does the demand curve shift left or simply change slope?

[@joshbird5204]

Changes slope due to consumers having more choice of products since there are more firms in the market in the long run

[@mateocardoner8608]

oh la!

[@chaneljonker773]

thank you this will help me ace my test :)

[@bananian]

the video said so.

[@ceciliaway9810]

Noted don't open a restaurant

[@alicelala2194]

No chill

[@InsulaTM]

Brad Sucks - Making me nervous

[@jaminabegum123]

hello

[@alicelala2194]

Od