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Jacob Clifford
Lump Sum and Per Unit
What is the difference between a lump sum and per unit subsidy? Here, an economics instructor explains how these each affect cost curves, and more specifically marginal cost, by illustrating the concept on a whiteboard.
Jacob Clifford
Four Market Structures Simulation
Here is a fantastic resource in which you will watch as an instructor models a simulation conducted in an economics class on the four market structures (perfect competition, monopolistic competition, oligopoly, monopoly).
Khan Academy
Khan Academy: Monopolies: Review of Revenue and Cost Graphs for a Monopoly
Reviews monopolies and explains graphical representations of monopolies.
Khan Academy
Khan Academy: Monopoly: Showing That Mr Has Twice Slope of Demand
Using some basic calculus to show that marginal revenue has twice the slope of the demand curve for a monopolist. [4:56]
Khan Academy
Khan Academy: Monopolies: Monopolist Optimizing Price (Pt 3) Dead Weight Loss
Showing that what is optimal for the monopolist is not optimal for society.
Khan Academy
Khan Academy: Monopolies: Monopolist Optimizing Price (Part 2) Marginal Revenue
Plotting the marginal revenue curve for a monopolist. [8:31]
Khan Academy
Khan Academy: Monopolies: Monopolist Optimizing Price (Part 1) Total Revenue
Discusses how a monopolist would rationally optimize profits.
Khan Academy
Khan Academy: Monopolies: Monopoly Basics
A discussion of what would happen if there were only one airline, creating a situation that would be the opposite of perfect competition.
Khan Academy
Khan Academy: Review of Revenue and Cost Graphs for a Monopoly
In this video [10:21], we review the key features, behavior, and consequences of a monopoly.