How to calculate profit, loss, marginal cost in a Perfect Competition

Tutorial on perfect competition with numbers and calculations. Tutorial includes how to calculate total revenue, total cost, and profit (economic profit). This is typically taught in a economics class.

Playlist on Perfect Competition

[knallbirne]

Hi, i just wanted to mention, that your videos far out of competition. The visual style you use and the step by step introductions are perfect. Many many thanks from an Economy Student.

[justindomineck]

I'm not sure how often you add videos but I'm grateful that you do. I've gotten through my economics course because of these lectures. THANK YOU!!!

[chippychips]

I've spent days watching my lectures and reading books and I was struggling a lot to understand this topic. However in 8 minutes you made it perfectly clear and easy to understand. Thank you so much! This video is exactly what I needed!

[Malvina]

This channel is AMAZING! I am a visual learner and this is totally, what I needed to understand: SIMPLE and PLAIN LANGUAGE, ON THE POINT, NO UNNECCESSARY COMPLEX STUFF.
My Prof. makes it sounds like rocket science and psychologically I feel under pressure but this videos are make it so easy to understand.
Your videos are taking the pressure of me! Pls keep continuing what you are doing, it helps A

[Archertroy]

Thank you for this series. I'd like to say that its rare when a video series is able to explain a concept better than the Khan Academy - and your videos are some of the few that I find much better than Khan. Please continue to educate, because you have a gift for it.

[sarahtasneem]

Hey man, this 8 min video is more valuable than gold to me. The way you explained things is so smooth, eye-catching and perfect.I can't thank you enough. You might have a special place in heaven, you know☺️❤️

[shanepillay]

Shane from South Africa - date: 13 August 2021. I`ve removed all other channels And kept only Economicsfun. Thank you for helping me so much. I`ve read our textbook, I`ve gone through the study guide & I`ve searched the web for some understanding, NOBODY can explain economics as well as you. thank you very much...

[juicee]

THANK YOU! i have a test in two hours and this explanation is much clearer than how my teacher did it!

[linchiqx]

Economics has been a tough module for me but lm finding these videos very helpful. all the way from Zimbabwe thank you

[economicsfun]

Great to hear, by the way, It is my dream to turn economics and other math subjects into videos games. So someday gamers will not even know they are learning economics :)

[tylernadeau]

Thanks for the help! you've been my saving grace, you really are helping the lives of so many people with these. I am thankful for your speed and clarity as well, def helps me understand and grasp it quicker

[JsusChrist]

Fantastic work, great graphs and easy to understand explanations! THANK YOU!!!

[FarFromHome]

I'm a Economics student at UC Davis and I have to say this video was AWESOME!

[artdragonheart]

This video explained perfect competition much more clearly than my teacher and the textbook she gave me. Thank you for this!

[fjoy]

I watched several of your videos-- Economics/graphs related; it is very easy to follow/understand than anyone could ever explain it to me! Thank you so much for the help!!!

[Foregoe]

My teacher hasn't even gotten to this yet in our classes and we're learning almost completely out of the textbook (which I'm not really good at) and this helped much!

[rshekdar]

Thanks for these videos, i am doing mba thru correspondence and these videos help a lot. Keep up the good work.

[ajinkyapathare]

Thanks for using precise terms like economic profit instead of just profit, which can be confused with accounting profit. Very well made video.

[b.g.]

Thanks, helpful. Another channel only gave super easy examples but this was more appropriate with thorough explanation.

[economicsfun]

Thanks for the feedback. The pace and tempo are always hard for me since the Youtube audience is so diverse. My target audience is the student that is struggling, so I try to be clear and the pace is slow.

The overwhelming feedback from students is the pace is just about right for them. Probably 20 to 1.

Btw, I am not reading from a script. I recorded in small pieces and chunks that is why and that is why there are no ums ahs etc...