Perfect Competition Long-Run (2 of 2)- Old Version

Watch NEW version of this topic: • Perfect Competition- M...
My 60 second explanation of perfect competition in the long run. It's an old video, but it's still good. To watch NEW practice videos please check out the Ultimate Review Packet. It is FREE to start. www.acdcecon.c...

[@CS-vm8ww]

Is anyone else in love with this guy? I wish he was my prof

[@mm22sapphire50]

i passed both my macroeconomics and microeconomics by watching your videos, thank you very much, your an amazing teacher!

[@Dimasstywan]

so happy for you my exam is next week

[@micosstar]

(:

[@topvideos611]

Those short run and long run equilibrium concepts were Nightmares for me untill I saw your videos. Thanks a Lot..

[@pankajsheoran9429]

Hey Mr.Clifford , I think its time to redo this video. I'm from India and I learnt English only in schools (We don't speak English natively) but still I like you (English speaking teacher) more than my school teacher. You are the best econ teacher. I owe you big time!, Thank you for making these videos

[@maggiesmith4019]

You make these topics so much easier to understand. Thank you for making these and for keeping all of your old videos up!!

[@dascer7777]

This video needs an update to fit along with the rest of the other videos, otherwise thanks a lot!!!

[@senya1696]

Definitely

[@WaltDittrich]

I'm surprised he still hasn't? 🤷🏻‍♂️

[@yurikeyboardsmashing1952]

@@WaltDittrich guess he already did

[@WaltDittrich]

@@yurikeyboardsmashing1952 Oh wow! He sure did: kzbin.info/www/bejne/kKW2i4GZlryVnJY It's marked as "3 weeks ago" so he must have seen this post. 😂 Thanks Mr. Clifford ! (I'm actually REALLY excited: New video(s)!! )

[@JamesMaisiri]

please dont stop making these,,im from all the way in Zimbabwe and your videos help

[@Dimasstywan]

i don't understand why my lecture and tutor never explain it this way, it's way easier to understand and to the point, i'm very nervous to do my finals next week, wish me luck :')

[@justusrogers3781]

How’d you do?

[@Dimasstywan]

@@justusrogers3781 I graduated yayy

[@achintdhiman4807]

​@@DimasstywanI'm so happy for you 🥳

[@pckgroup2]

wow this 40 second video taught me more than my professor did the entire term

[@rampage241]

This is so awesome! Love the ACDC background music

[@0326kristina1981]

Coastal Carolina Community College could benefit immensely from your upbeat and easy-going teaching style. Thank you for your lectures.

[@theasmrgamerunexposed2251]

He's class Learn more off him in 2 mins than 2 hours of lectures Lecturers don't know how to teach , there is a difference in knowing something for yourself and imparting that knowledge to others There needs to be a revolution in terms of how information is taught

[@splatterbrained4215]

i could literally watch a 22 minute video on this by jason welker or watch 2 minutes by mr. clifford and get it just the same. Thank you for saving my time!!!!!!!

[@LinhNguyen-ug5nf]

my lecturer tried to explain this to our class (not your way of course) for like half an hour and still we didnt get it 😂 thanks to your video, i get this in 2 mins.

[@abdulmuhit2618]

Best effective explanation ever. I wish you will make your lecture video a little bit longer. so, i can consume it easily.

[@mahmoudtamim1158]

Den här shunon gjorde att jag fick VG på min tentan big ups my man

[@sakshamkatiyar5048]

Nice explanation sir... ♥️From India

[@unjodly1179]

Love your tutorials and I love AC/DC AND I know you're named after them, but the soundtrack really makes it hard to focus.

[@exceedingyoureverest184]

As always thank you for your videos!

[@JacobAClifford]

You are welcome!

[@chicka906543]

Thanks for the review! I have a test tomorrow and im feeling more confident about it!

[@MrUniqueleo]

Best Teaching Style IN THE PLANET!

[@00chicken101]

But if you're talking about the individual firm, then yes they produce 8 because the MR line is lowered so the MR=MC point is both lower and to the left.

[@billjoe7036]

wow I was the 1600th like exactly. was cool seeing that number change in real time as I clicked the like button.

[@ngtienminhhuy]

cool style impressing me at the very beginning

[@carolele226]

Wow, wish you'd been my lecturer!!!!

[@beatricehaworth4961]

sorry what the hell is with this music?!?!? I'm really finding your videos useful but it makes it 10x harder to concentrate ahhhhh

[@escobar8617]

that was his theme of his channel if you an OG watcher , THE ACDC ECON channel

[@ruqaiyamoulana249]

Ryt ,its making it so hard to concentrate

[@alexmorris6954]

TNT, by ACDC

[@sadmansadaf6629]

amazing teaching style...

[@lokidbadguy]

oh my God, thank you sir for your help. I understand now, why in a long run, perfect combination got normal profit or non profit

[@joanlimst]

this is going help me pass my economics paper. thanks!!! :)

[@joreyaaa]

You are great teacher Thanks a lot for help

[@Ocy50]

does a firm in the long-run shutting down if it does how can you show it the diagram?

[@kumarchandresh4044]

a firm will shut down in the long run if he is unable to pay its AVC

[@MrNishkabibbles]

damn, my teacher hand us the book and expects to learn, you sir are a dime of a dozen. thanks for the vids

[@ruqaiyamoulana249]

My teacher sent us this link so we could watch the video lol.

[@00chicken101]

@MsKrose1 If you're talking about what he labeled at about 1:20 in the video, that says Q1 not 8.

[@phumlanimnguni9008]

Thank you so much man.keep up good work you are helping alot

[@boitumelombobi4088]

thank you so much

[@user-rx9ut4dk9g]

The lesson is great but the audio really needs fixing!

[@sergeyfeldman8284]

You're better than my Micro college proffessor by leaps and bounds

[@belenavila6540]

Still don’t get it ugh

[@tufailmuhammad9023]

Sir thank you very much.

[@lordconstantine592]

The only thing that I do not understand is that why would companies keep producing if they are not making any profits at all. (I am talking about the long run equilibrium). Their Total Revenue is equal to their Total Costs, or is there something else?

[@JacobAClifford]

+Tunç Öztemir Great question. The Total Cost include implicit costs so making no economic profit means that you are covering all your explicit costs and opportunity costs. Here is a video that will help. kzbin.info/www/bejne/l2HRhoqoo9qImtE

[@lordconstantine592]

+ACDCLeadership thanks a lot. I thought that implicit costs were not included, so that seemed wrong at first

[@ceydabayram5120]

@@lordconstantine592 düştük buralara

[@lordconstantine592]

@@ceydabayram5120 ben 2 yil once dusmustum, simdi kalktim.

[@kjw1993]

you sir, are a legend

[@Israelpwn]

thankies very handy and fast - hope to god you'll make more :D and lol at audio transcribe ... 1.51 "i just love him and i did not see eye to eye" xD

[@shidanley4940]

Mr. Clifford made this video when I was 4, feel young yet?

[@ruqaiyamoulana249]

I was seven lol

[@shidanley4940]

@@ruqaiyamoulana249 XD

[@JesNicoleW]

Please come teach at Wichita State University!!!

[@alphaandrewtalks8647]

The thing that i did not understand is in long-run demand curve is horizantal because demand is elastic and firms are price-takers.However,you draw it downward sloping on the left. Why?

[@JacobAClifford]

Perhaps it is the law of diminishing marginal utility setting in. Try something new, different, and fun:)

[@chihuu]

Most studies of firms’ long run costs have found that average costs decline as firms produce increasingly larger output levels (economies of scale), such as for automobile firms. However, trucking (haulage) firms appear not to experience falling average costs associated with large-scale operations. Why might this be the case? Explain

[@micahwright1578]

I don't understand "No economic profit." wouldn't the end result be no accounting profit? It would only be no economic profit if opportunity costs were factored into the AVC (which from watching previous videos, opportunity cost is not factored into the vc).

[@ujangpeter]

when are you going to update the videos so they are all shiny and new?

[@ronaldmorales9547]

why is the quantity in the firm graph 10??

[@s.s.l.k3020]

+Ronald Morales because the firms take the market price,its in the previous video

[@cinqueottavi]

Thanks.May I ask a question professor? From your explanation, I think the Long Run condition will never exist.Correct? If there is no profit, there will be no firm who want to enter but there will be also no company who want to stay.So you will never reach the Long Run.Correct?

[@94D33M]

why will firms stay in a position where there will be no economic profit ? whats the point of the firm then?

[@mands4129]

great video. question, why does demand remain the same in the long run?

[@anonymoussb1998]

Haha fucking great and you did it in 2 minutes.

[@c4landrea]

i wish you were my teacher!

[@YouveJustBeenMarked]

thank you SO much!

[@DC-wz9gp]

please remake this video without the music and cool info graphics like your new videos thanks

[@courtneyhorny261]

the lighting is not good sir

[@zeppelin2224]

@cinqueottavi no, there's no ECONOMIC profit. No economic profit is a good thing. Economic profit is different from accounting profit, because it includes opportunity costs. For example, if I make $100k annually by owning a bakery, but I could also make $100k being a professional musician I would be making 0 economic profit, but an accounting profit of $100k.

[@scientistmurshid]

Plz reupload this clip.Your voice is clear but the room is little bit darker.

[@RaulPelcastreRealEstate]

With all due respect professor Clifford can you make another video but without music?

[@nikhilbommera9694]

How can you directly say that the new marginal revenue cuts the marginal cost at the boundary??

[@saltypixell]

I still have one question about this. Why is the firm going to produce less when there is more demand in the market, you would assume that the firm is going to produce more to reach the same revenue as before?

[@saltypixell]

Ah I understand now, from that point on if you start to produce more your cost will also be higher so you're making an economic loss.

[@siphilipe]

Light pleeease.

[@shawzhang4498]

if no profit being made why people still doing it?

[@birdyashiro1226]

沃日，终于懂了？？？midtern2都考完了才懂，好气，手动再见

[@towhidten]

no bonus round :(

[@MsKrose1]

so at $7 they are producing 8 Quantity?

[@nickiminaj4754]

why would you add music ?

[@Dfarnworth216]

haha... You are amazing

[@Gk-jv8gz]

october 22 2009

[@federicopedrinoni3397]

I fucking love you

[@Romansssz]

Do these situations, happen in real life. Or is this a theory? Because it sounds too convenient.

[@sonyaraey832]

the music is so distracting!!

[@cinqueottavi]

@zeppelin2224 Thnak you

[@rahulghosh6376]

Please remove the music sir. its really hard to understand what you are saying.

[@Jess-bt8ol]

why 60 seconds only.....

[@soggycheeseroll]

WHY TF IS THERE MUSIC WTF BRUH HOW MUST I LEARN

[@pratapupadhyay2178]

Cant concentrate

[@saoudaldhaheri1185]

not clear at all

[@bArda26]

do you like woodpecker woody? because you are a woodpecker

[@karthikthota9238]

Wtf did I just witness

[@jairus3770]

i dont think this is 60 seconds, false claim

[@sammarsiglia3100]

as much as i love ACDC get rid of the music

[@JacobAClifford]

+Sam Marsiglia This videos are six years old. I took out the music from new videos about 5 years ago.

[@a45williams]

You are a great instructor. My advice is to leave out the music; I'm listening to the music and you at the same time, distracting.

[@96jacobo]

give me a baby mr clifford

[@tonypagano3846]

your teaching style has many distractions