Crash Course
Revenue, Profits, and Price: Crash Course Economics
How do companies make money? What are profits? Revenues? How are prices set? This week, Jacob and Adriene are talking business. Whether you're selling cars, pizza, or glow sticks, this video has pretty much all the information you need...
ACDC Leadership
MICROeconomics 19 Minute Review
In this video I reviews all of MICROeconomics in 19 minutes. (Note- I used the same intro from the macro video since Unit 1 is the same, but this definitely covers MICRO).
ACDC Leadership
Types of Profit- Micro Topic 3.4
Hey econ students. Here’s a quick video explaining the difference between accounting profit and economic profit. Just remember that accountants only factor in explicit costs while economists factor in explicit AND implicit costs. Also,...
Curated Video
Understanding Shutdown Points for Profit Maximization in the Short and Long Run
This video provides an in-depth explanation of shutdown points in economics, specifically focusing on the difference between short and long run decision making processes. The narrator introduces various economic concepts, such as the...
ACDC Leadership
Perfect Competition Long-Run (2 of 2)- Old Version
My 60 second explanation of perfect competition in the long run. It's an old video, but it's still good.
ACDC Leadership
Micro Unit 3, Question 11- Perfect Competition
Join the hundreds of thousands of students that have used Mr. Clifford's videos and resources to ace your microeconomics course.
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
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.
ACDC Leadership
Micro 2017 FRQ #1- Perfect Competition, Long-run, Supply, Demand, Price Ceiling
What's up?! Thank you for watching my videos. In this one I go over the first FRQ on the 2017 AP Microeconomics exam.
Curated Video
Revenue and Profit in Microeconomics: Understanding the Concepts and Curves
The video provides an explanation of two important concepts, revenue and profit, in microeconomics. The video also explores the relationship between marginal revenue and price, and how they affect a business's profit margin....
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
2010 FRQ #1- Perfect Competition Graphs
Join the hundreds of thousands of students that have used Mr. Clifford's videos and resources to ace your microeconomics course.
ACDC Leadership
Types of Profit- Old Version
In this video I explains the difference between explicit costs and implicit costs and the idea of economic profit. By the way, it's a joke. Economists and accountants don't really hate each other. It is a running gag between disciplines....
Curated Video
How to Calculate Economic Profit
The video is a tutorial on how to calculate economic profit. The presenter first explains the difference between accounting profit and economic profit, emphasizing that economists are more interested in the latter. They then go through...
ACDC Leadership
Maximizing Profit and the Shut Down Rule- Micro Topics 3.5 and 3.6
Hey econ students. If there is only ONE thing that you need to know for your microeconomics class and for running your own business it’s the profit-maximizing rule. You always produce where MR = MC. Well, not always. Sometimes you should...
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...
Khan Academy
Khan Academy: Economic Profit vs Accounting Profit
Looks at the difference between a firm's accounting profit and its economic profit. [8:05]
Khan Academy
Khan Academy: Profit Maximization Worked Example
Work through a free response question about profit maximization in this video. [4:40]
Khan Academy
Khan Academy: Profit Maximization
Learn about the profit maximization rule, and how to implement this rule in a graph of a perfectly competitive firm, in this video. [4:59]
Khan Academy
Khan Academy: Economic Profit vs Accounting Profit
Accounting profit is what many people tend to think of when they think profit, but an economist would say that you leave something very important out when you do so: opportunity costs. In this video, explore the difference between a...
Khan Academy
Khan Academy: Economic Profit for Firms in Perfectly Competitive Markets
An important skill in microeconomics is the ability to find a firm's profit. Learn more about how to use a graph to identify the profit-maximizing quantity for a firm in a perfectly competitive market, and identify the area that...
Khan Academy
Khan Academy: Depreciation and Opportunity Cost of Capital
This video explains how to account for things when you own the building instead of renting it. [8:09]