ACDC Leadership
Graphing Perfect Competition Practice- Microeconomics
My 60 second explanation of how to draw a perfect competitive firm making a profit. This is a great way to see if you really understand the graphs. Identify which one of the four graphs is drawn correctly. Be sure to identify what is...
ACDC Leadership
Short-Run Cost Curves (Part 2)- Micro Topic 3.2
In this video I explain how to draw and analyze the cost curves. Most teacher sad professors focus on the per unit cost curves. That included marginal cost, average total cost, average variable costs, and the average fixed cost. Each...
ACDC Leadership
Micro 3.7 MR = MC Practice: Econ Concepts in 60 Seconds for Advanced Placement Microeconomics
Mr. Clifford's 60 second explanation of how to use the profit maximizing rule (MR = MC). Assume the firm is perfectly competitive and that the price is $20. Try pausing the video and identifying how much the firm should make and the...
ACDC Leadership
Micro Unit 4, Question 9- Lump Sum vs. Per Unit
Join the hundreds of thousands of students that have used Mr. Clifford's videos and resources to ace your microeconomics course.
Curated Video
Understanding Cost Curves in Microeconomics
In this video, the speaker explains the concept of cost curves and their importance in understanding the cost structure of a business. They begin by discussing how total cost can be divided into fixed and variable costs, and then move on...
Curated Video
Profit and its Maximization in Economics
The video provides an introduction on the concept of profit and distinguishes between accounting profit and economic profit. It explains how businesses generate revenue from producing goods and services and how they calculate their...
ACDC Leadership
2006 FRQ #2- Profit Maximizing with Perfect Competition
Join the hundreds of thousands of students that have used Mr. Clifford's videos and resources to ace your microeconomics course.
ACDC Leadership
Free Response Practice Cost Curves- Microeconomics Unit 3
Here is a practice FRQ from the 2005 AP Micro exam. Try it on your own and then go over the answers. Good luck.
Curated Video
Objectives of Firms: Maximizing Profits and Beyond
The video discusses the various objectives that firms may have, starting with the traditional assumption that firms aim to maximize profits, but also exploring other objectives such as increasing market share, maximizing revenue,...
Curated Video
Evaluating Monopoly Markets: Productive, Allocative, and Dynamic Efficiency
This video is an educational tutorial about assessing the market structure of monopolies. It discusses three types of efficiency: productive efficiency, allocative efficiency, and dynamic efficiency. The concept of natural monopolies is...
ACDC Leadership
Perfect Competition in the Short Run- Microeconomics Topic 3.7 (1 of 2)
In this video I explain how to draw and analyze a perfectly competitive market and firm...and you get to meet Mr. DARP. Makes sure that you can use the graph calculate total revenue, total cost, and profit. Thanks for watching.
Curated Video
Evaluating Market Outcomes in Monopolistic Competition
This video discusses the efficiency outcomes and market structure of monopolistic competition. The speaker evaluates the market outcomes and efficiency of the structure by looking at productive and allocative efficiency. The short and...
ACDC Leadership
2011 FRQ #1- Monopoly Graph
Join the hundreds of thousands of students that have used Mr. Clifford's videos and resources to ace your microeconomics course.
Curated Video
Diagrammatic Analysis of Monopolistic Markets
This video explains the concept of monopolistic competition and its representation via the use of cost revenue curves on a diagram. The presentation also analyzes how the outcomes of this market structure differ in both the short run and...
Curated Video
Marginal and Average Costs: Definitions, Calculations, and Graphs
This video provides an introduction and detailed explanation of marginal and average costs in economics. The presenter explains the definitions of marginal and average costs, and demonstrates how to calculate them using a hypothetical...
ACDC Leadership
Micro 5.1 Market and Minimum Wage: Econ Concepts in 60 Seconds:- Economics Lesson
Mr. Clifford's 60 second explanation of the labor market for cooks and the affects of minimum wage. Remember that the firms are now demanding and individuals supply.
ACDC Leadership
Perfect Competition- Microeconomics 3.7
Hey econ students. In this video I go over the characteristics of perfect competition and explain how to draw and shift the graph. Make sure that you can calculate total revenue, total cost, and profit and show what happens on...
ACDC Leadership
Maximizing Profit Practice
In this video I explain how to identify the profit maximizing quantity and calculate total revenue and profit. MR=MC is the most important concept in microeconomics.
Curated Video
Trade Unions in the Labor Market: Roles and Influence
This video provides an overview of trade unions and their impact on the labor market. The presenter explains the objectives of trade unions, which include protecting workers' rights, improving their pay and working conditions, and...
ACDC Leadership
Micro Unit 3, Question 9- Maximizing Profit (MR=MC)
Join the hundreds of thousands of students that have used Mr. Clifford's videos and resources to ace your microeconomics course.
Curated Video
Assessing Perfect Competition Market Structure and Efficiency
This video is a lesson on the market structure of perfect competition. The instructor explains the characteristics, efficiency results, and limitations of perfect competition. The instructor also discusses how firms may not invest much...
ACDC Leadership
Maximizing Profit Practice- Micro Topic 3.5
In this video I explain how to identify the profit maximizing quantity and calculate total revenue and profit. MR=MC is the most important concept in microeconomics. Thanks for watching.
Curated Video
Consumer Behaviour: Rational Decision Making and Utility Theory
This video discusses the topic of consumer behavior, starting with the concept of utility and how it relates to overall satisfaction or well-being. The video then explores rational decision making and how economic agents respond to...
ACDC Leadership
Short-Run Cost Curves (Part 3)- Micro Topic 3.2
In this video I explain why MC decreases and then increases and why the MC hits ATC at the minimum point of the ATC curve. Very exciting stuff!