Short-Run Costs (Part 1)- Micro Topic 3.2

In this video I explain the costs of production including fixed costs, variable costs, total cost, and marginal cost. Make sure that you know how to calculate the per unit costs: AVC, AFC, and ATC. Let me know what you think and please subscribe.

Next video-drawing the cost curves

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More videos about the costs of production-

[ahlulhadith]

You taught me more about "cost of production" in a 5 minute video than my microeconomics professor taught me in 2 weeks. Thanks for explaining so well.

[benvh]

You have saved more lives than you know..

[nataliebalents]

These videos might seem silly to some people, but as a graduate student who enjoys economics but is still struggling with exams -- these videos are saving my life. You are really making the concepts understandable to me in such a short amount of time. So, a thousand times, thank you.

[TheMusicHO]

First of all, Rock on. Second of all, you have just taught me more in 5 minutes than I have learnt this whole semester from my lecturer who has a PHD in microeconomics. I am not blaming my lecturer as maybe it was due to my lack of focus, however you deserve a medal for you work, You are a legend mate. Thank you SO much!!!

[earth]

Not even 10 seconds and I'm already liking this video. I think your energy, man.

[wrayy]

Hey Professor! Just wanted to say that I give your channel an A+, and in particular I appreciate your brevity, clarity, humour, and high energy :) Wishing you the best!

[eobxzfk]

You have posted this video 8 years ago and till this day (2022), you are still impacting and educating young students like me. I cannot thank you enough! I literally wish i can pay you back all the effort you put in those videos. THANK YOU

[Jasuke]

Missed my econ class for a week due to family emergency. Was incredibly worried about the material I was not able to attend lecture for. A friend told me about your videos. Got an A on the test. Thanks so much for your help and explanations! Finance major here that will be using your videos for awhile. Thanks!

[di_livefree]

Wow, I wanted to sleep but after watching for a minute and half. I'm wide awake. Gosh! Now it all makes sense. 
Textbook >>> Complicated, jargon, very tiny words and lost of graph.
ACDC video >> Simple, simple and so simple.... Yes transferring knowledge should be easy for the receiver to understand.

Thanks... from T.k in Jamaica.

[janinekoslow]

Mr. Clifford is the Econ Master!! I appreciate your material so much to supplement my Micro-classes. Thanks for being awesome!

[analiza]

I was having a hard time understanding what I was reading, saw several videos, read several materials (aside from the class text book) and then I found these videos! They totally grabbed my attention, and didn't put me to sleep. So far, I've gotten 100% on both assignments, and that is by only watching the videos, I wasted my money on the school required textbook. Thank you!

[trlycrlym]

I think what really makes these videos work is how positive he is, it makes me feel less afraid to try

[dannyholley]

1, 000 times more graspable than my microecon textbook. Well done and thanks!

[joasante]

Honestly, I am feeling somewhat relieved watching this. My MBA lecture notes is making nay sense.

[XXX-nzxd]

I'm from germany and I use your videos to prepare for finals. They are aboslutely amazing, thank you SO MUCH! :)

[Apeeization]

I strongly recommend these videos for anyone who is currently doing Microeconomics. They are very brief and yet extremely clear and insightful.

[nguyenkelly]

I don't know why people didn't appreciate your help! When it comes to quizzes and exams I always use your videos to revise. Thanks alot!

[jameslewis]

Anyone notice that dude in the back right who kept a straight face the entire time

[katefrump]

I have been struggling the past week with this topic. One part is my professor is foreign and hard to understand, but the other is he assumed we understood all of this and went over everything to do with cost curves in one day. Thank you for the video!!!

[mikegajx]

Wow... I was doing my chapter reading about this topic and I was seriously spending 30 minutes and more to understand this concept. And this topic became clear to me after watching 5 minutes of your video. Seriously, thank you so much for teaching how these connect together! Salute to you good sir!