Perfect Competition: Long-run Equilibrium

This video shows you how to find the long-run equilibrium price in a perfectly competitive market, in addition to finding the firm's output level, market quantity demanded, and number of firms in the market. A brief review of long-run equilibrium is provided, too.

[novejotbal]

it's 2020 and this video is saving my life before finals

[EconomicsinManyLessons]

The easiest way to see where the minus sign comes from is to rewrite 18/q as 18q^-1. The derivative of 18q^-1 is (-1)18q^-2, which equals -18/q^2.

[noname-fiqn]

I am so grateful for these videos. You are saving me before my final which is an hour apart from my macro final so I could not study for it at all. Bless you and your gene line for generations :P

[Hello-gnec]

u are such a life-saver man thankyou so much for what u are doing

[meagain]

Love your vids man, and your kid :) Helps me to understand a little better

[sumasuma]

How to identify from problem/question the long run and short run? When not mentioned clearly.

[hehehe]

If the firm were under the constant cost industry, would the process of getting the firm's output level and equilibrium price change?? Or would it still be the same? Thanks!

[chuchotersaule]

Thank you!! You really clarified everything up, I really really really appreciate this!!

[josephjohns]

What does the 0.5 in front of the (q1) represent at minute 2:04 in the video?

[biancasatria]

how do you find the Q when you don't have one in the question?

[whenyoulovejeonjellybutyou]

Thank you for this vid! Really helpful!!

[cyndara]

I found this video very helpful. Thank you very much!

[astroxin]

In my class we were told to find where AVC=MC where MC intersects with AVC minimum.

But here you do ATC, which will yield a different value. Can you explain when do to either?

[Krixinee]

Help me : Describe the initial equilibrium long-run of the market and firm. Make sure to use the relevant diagram. Plss

[tomisthlm]

WHERE THE FUCK DID YOU GET THE MINUS FROM MATE?!  at 4:54

[aassbbcc]

Your voice... Sounds like Trump's