Perfect Competition (2) - The Firm and the Industry

[@darkhorse811]

You're a great teacher, Prof. Strickland! Way better than my college professor. Thank you for providing such great lectures and for making economics so easy and enjoyable!

[@mitebaa]

I love Strickland Videos! He seems a sympathetic person with a well-timbred voice and the videos are extremly easy to understand and most important, helpful! This one comes with a epic bonus: "stupid!". a special "like" from Portugal

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this man is a great teacher! learned more than i ever did in 3 months of a microeconomics class

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Best teacher I have ever know.

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You are fantastic. I love the way you teach!

[@LadyJane31049]

very simple and easy to understand esp when english is not our mother tongue. Thank You so much sir for such an entertaining lecture,it's very enjoyable and always looking forward for whatever vid you post......AWESOME!

[@preechan]

I have Economics exam in a while, and trust me this video helped me more than all of my 2 days slogging ^^ Thanks :)

[@utubesanjay]

Love you teaching method. You are awesome

[@TheWyvern66]

Franklin Green - the argument is that as we buy more inputs, we strain our suppliers, who respond by raising prices. Remember the MC curve is the supply curve. In a more realistic world - that of most small businesses, for example, that MC curve is very elastic over a wide range of output. Also, economies of scale are very real in production businesses, not so much in service businesses that are labor intensive.

[@TheWyvern66]

Absolutely agree! I wish my econ teachers dealt with today's realities as well as the theory.

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LMAO when i guessed the word "stupid" and that was what he actually said.

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[@kingofdogs49]

wait a second moose breath

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[@franklingreen3100]

Why do the marginal costs of the single firm increase with increasing output quantity? Would it not be more logical for them to decrease because of economies of scale?

[@turtle1361]

Wrong. You sell Where MC=MR, selling more will make you lose money.

[@ts1090]

Who else is here for A Level economics ?

[@1hottoddie]

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