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Professor Dave Explains
Why Do People Like Free Markets?
We just learned about the four main economic systems. Now, it's time to dive a little deeper with each of them one at a time. We will start with free markets. Why do people like them? What are the advantages and disadvantages of free...
Curated Video
Understanding Monopoly Market Structures and their Impact
This video discusses the concept of a pure monopoly in economics, which is when one ruling firm dominates and controls the entire market, giving them the power to set prices and make large profits. The video explores the benefits and...
Learn German with Herr Antrim
German for Beginners #27: Geburtstagsparty
It's Supergirl's birthday and she is throwing a party for some of her friends. Learn German birthday party vocabulary while watching Supergirl plan, decorate for, and enjoy her 16th birthday party. Wonder Woman and Poison Ivy...
ACDC Leadership
Monopoly Graph Review and Practice- Micro Topic 4.2
In this video I explain how to draw and anaylze a monopoly graph. Make sure to answer the questions and check out the bonus dance at the end. No! We can't play the board game.Thanks for watching
ACDC Leadership
Monopolistic Competition- Short Run and Long Run- Micro 4.4
In this video I explain how to draw a firm in monopolistic competition. Notice, the firm will make zero economic profit in the long run since there are low barriers to entry. Make sure you know how the graph changes from the short run to...
ACDC Leadership
Price Discrimination- Micro Topic 4.3
In this video I explain how to draw a monopoly with first degree price discrimination. Try pausing the video to see if you can show price, consumer surplus, and profit on the graph. Please keep in mind that these clips are not designed...
Professor Dave Explains
Understanding How Prices Work in a Free Market
Now that we know about supply and demand, we are ready to talk about prices, and how they dictate the dynamics of a free market economy. Free markets lead to an efficient distribution of resources, however there are exceptions, such as...
AllTime 10s
10 Companies That Secretly Control The World
Did you know that the vast majority of the products you buy are all owned by a small number of all-powerful super companies?
Khan Academy
20th Century Capitalism and Regulation in the United States
The speaker in this lecture takes the viewer on a journey through the world of modern finance, from the era of Rockefeller and Vanderbilt to the 2008 financial crisis. Exploring the presence of the American government in the economy,...
Khan Academy
When Capitalism is Great and Not-So-Great
Comparing and contrasting Capitalism and Socialism, this lecture outlines many nuances between the two economic systems, including the ideas of meritocracy and "fairness." A discussion about the effects of either system gone "unchecked"...
Jacob Clifford
Monopolistic Competition in the Long-Run
Watch as a great economics instructor illustrates a monopolistically competitive firm in long-run equilibrium on a graph, and then compares it to perfect competition.
Jacob Clifford
Monopoly Graph Review
How do you draw a graph representing a monopoly? Watch a great economics instructor explain the process step-by-step as he includes the primary components of demand, marginal revenue, marginal cost, quantity, and price of a firm.
Jacob Clifford
Monopoly Demand and MR
Why is marginal revenue less than the demand curve for all perfectly competitive firms in a monopoly? Watch as a savvy economics instructor answers this question using graphs and detailed explanations.
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 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: Why Parties to Cartels Cheat
In this video, Khan Academy explores a conflict that duopolists (and other oligopolies) face: there is a tension between cooperating and forming a cartel or cheating on that cartel once it is formed. [11:18]
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.
Khan Academy
Khan Academy: Game Theory of Cheating Firms
We deepen our understanding of a Nash Equilibrium by exploring Pareto optimality and more on Nash Equilibrium in this video. [9:20]
Khan Academy
Khan Academy: Economic Profit for a Monopoly
Learn about how to represent a monopoly market graphically in this video. Topics covered include the profit-maximizing quantity, pricing decisions, and deadweight loss associated with monopolies. [6:13]