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Costs of Production- Microeconomics 3.3 (Part 1)

9704 ratings | 1033261 views
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. Get the Ultimate Review Packet http://www.acdcecon.com/#!review-packet/czji Next video-drawing the cost curves https://www.youtube.com/watch?v=qYKJdooEnwU Watch Episodes of Econmovies- https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH More videos about the costs of production- https://www.youtube.com/playlist?list=PLE70CA726102FB294
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Text Comments (576)
anthony Bonilla (2 days ago)
Jacob, I don't know what I do without you
Bowen Y (8 days ago)
Not exciting indeed. Been stuck on this topic for weeks, just reluctant to learn it. Your vid gave a push.
Priyam Thapa (23 days ago)
Awesome
Alen ŠIMŠIĆ (26 days ago)
Now i understand marginal costs. Thank you 😀
TAINA LOPEZ (1 month ago)
gotdamn it, YOU ARE AMAZING, why didnt I find you weeks ago? LMAO
Mind Your Business (1 month ago)
How did you find Marginal cost ? It's little bit confusing.
Victor Sierra (1 month ago)
You are my new best friend! Thanks for these, I've been struggling all semester!
Eddy M (1 month ago)
How to use total cost theory to make channel decision?
This was so helpful thank you soo much
n v (1 month ago)
You're the man!! thank you
Yousuf Bana (1 month ago)
I love you
Nader Eid (1 month ago)
Mr jacob we need arabic translation for your great video 🌹
anna shiferaw (1 month ago)
very helpful
ŔH Ìŕfàñ (1 month ago)
Love from Bangladesh 😍😍😍
Veva13 (1 month ago)
thank you for saving lives of stressed out IB students
shaheeer sabir (1 month ago)
Man you are genius ,I just subscribe you...
Kalathmi Pathiraja (1 month ago)
4:05 pause
Da Durie (1 month ago)
Somebody please how do u work out the variable costs?
CityOfSandwiches (1 month ago)
much love
dr strange (2 months ago)
I lab u though I am a guy! :)
Londeka Mthembu (2 months ago)
thank you, thank you, thank you!!!!!!!!!!!!!!!!
Monique Williams (2 months ago)
Thank you so much Mr. Clifford. I have been struggling with cost theory for a month now, and I decided to focus and watch your video and i am so amazed at how much I've learned
Fabricia Breves (2 months ago)
At 0:41, the guy with the black shirt in the back does not look that excited about cost curves at all. LOL Thank you for the great videos!
Concerned Kid (2 months ago)
:) Thank you for breaking it down in layman's terms. You and your crew were pretty hilarious too!
celeste vargas (2 months ago)
I want econ herpes!!
Thalia Layne (2 months ago)
Omggg thanks for making it so much more easier for me 😭
Mrunal Kamble (2 months ago)
Hey i m from india 🇮🇳.. thnx for wonderful clarification😊
Riaz Ahmad (2 months ago)
I am sure everyone loves your videos and the way you make tough econ concepts simple, however, I have a minor suggestion. Please talk a bit slow.
Sean & Bobbie Leonard (2 months ago)
That one student in the back of the class, standing there like, "meh...whatevs". LOL.
Pearl Ephraim (3 months ago)
Do you perhaps know someone on YouTube that you can refer who does videos as good as you but for Management Accounting? You literally saved my life with Economics, wondering if you can do the same with Management Accounting :(
Sandy Gan (3 months ago)
That acdc belt tho! 😍
nobuhledubem (3 months ago)
Great videos
Steven M (3 months ago)
AVC...AFC...ATC..............AC/DC???
Kaya Esp (3 months ago)
Thank you for making Econ FUN! The blips of excited kids made me laugh out loud too – On to part 2!!
Fox15W (3 months ago)
Some heroes don`t wear capes! You saved my exam!
Abdulhamid Rahmatullayev (3 months ago)
thank you it was very helpful
Taylor Samantha (3 months ago)
This helped me out tremendously thank you!!
Erin Fitzpatrick (3 months ago)
can you be my Micros professor please ?! I've been crunching for all of my finals and I've missed quite a few lectures (I've been in the hospital) so this really helped me review !! thank you !!
Jonathan Guerrero (3 months ago)
does anyone else think he looks like Mark Cuban?
The Empty Hearse (3 months ago)
I'm not a student studying economics in a formal way. I took up science throughout high school and I have an exam next month which has a portion of economics. This is helping me so much. Thank you for making this fun to learn, even for a person who has never touched it before.
shmu-el ocho (3 months ago)
I like how every time i search for an economics-related topic on Youtube this dude shows up
Betty Agajyelleh (3 months ago)
0:17 dude in the far back left just standing there has me dead
Betty Agajyelleh (3 months ago)
things that would take me an hour to teach myself you teach me in a few minutes so well THANK YOU!!!!!
majok Manyiel (3 months ago)
legend live for ever
https://youtu.be/jh9n6ZgOod0
W O (4 months ago)
rubbish
Brandon (4 months ago)
I have already paid for the review packet, compared to a tutor it is nothing. I think you should also have a tip jar.
barbara davis (4 months ago)
omg, it's starting to make sense!
Oney SI (4 months ago)
You're very easy, less time consuming, and fun to learn. Thank you very much from Bangladesh 💝
Bryce Schmitz (4 months ago)
This guy is amazing. He teaches, and these videos are actually pretty entertaining. Wish this guy was my professor!
Amal almazrouei (4 months ago)
Thanks for posting this videos you saved me
NICOLAS RICHARDS (4 months ago)
dat jumpscare tho
Aeon Dean Liva anu (4 months ago)
I an Indian student This went well
Aeon Dean Liva anu (4 months ago)
Wow ur a ball of energy
Bimarsha Kalikote (5 months ago)
0:41 The guy wearing the black t shirt in the right corner doesn't seem that excited.
Nathan Brown (5 months ago)
You’re awesome dude. This is your calling
Vaishnavi Sawant (5 months ago)
Man your making me crazy I didn't get you what you are trying to say you making things harder than it's....
Vedansh Nathani (5 months ago)
Cost curve yeay yeayyy
James Parker (5 months ago)
Lutherangrants com are life savers .I just received a grant of $30,000 from them.
makmix (5 months ago)
cost < benefit これはもう大学へ行く必要がなくなります。
faizan wali (6 months ago)
that's fantastic Mr ACDC........Thank you
Samah Aboelsoud (6 months ago)
Thank you so much
Eduardo Lozada (6 months ago)
goat
tuttersbeats (6 months ago)
americans are obnoxious even when they teach wow
Tiffany Ross (6 months ago)
Your videos have saved me! Thank you so much!
mohammed js (6 months ago)
Hi i think if you write what you say in the video while you talking that wil be better for all of us , because you are so fast. thank you for your help. ;)
Bhargav Rentala (6 months ago)
5 years later and every econ teacher still puts ac dc econ in class! You changed the world
ivy - (6 months ago)
you 're amazing.
selam queen (6 months ago)
why are you so fast? please speak slower omg!
Holy Torment (6 months ago)
You saved my life
Berkin Gürcan (7 months ago)
tipini zikiyim ama güzel anlatıyon
MI CLASE (7 months ago)
you rock****
Dunyaazad J.Sideeg (7 months ago)
Dude you are awesome, I have an exam in couple of hours and I have just started familiarizing myself with the syllabus, and thanks to you, I'm confident I will pass it with a high grade, thank you so much. Please keep posting more videos. Holla from Sudan ❤️❤️❤️❤️
Alex DC (7 months ago)
You are the best Economics prof ever. your work is truly appreciated ~
Erwin Sihombing (7 months ago)
THANK YOU VERY MUCH SIR
Nawaz Hussain Kabir (7 months ago)
AC DC belt🤣
karl makongo (7 months ago)
you saved my life
محمد الشهري (7 months ago)
you are clever...
jordan kendall (7 months ago)
these videos are a life saver.
Ozodbek Abdupattoyev (7 months ago)
Thanks you now I understood what my teacher couldn't explain. But from next time can you speak slowly for nonnative listeners, please.
alya sakinah (7 months ago)
it's a great video so helpful, thank you:))
Benuri Wickramarathne (7 months ago)
Thank you so much Mr Clifford ❤️
Santiana Pinnock (7 months ago)
вєѕt єcσn tєαchєr... í tσtαllч gєt ít😁
Linda Brown (7 months ago)
Question! 🤚 You used a manager of a pizza place as an example of a fixed cost (doesn't matter how many pizzas you make you still need a manager) but you said labour is a variable cost, so could you please explain why there is a differentiation there? I love how you explain things and I'm sure it'll help really nail down the concept. I just assumed manager was included in labour. School me!!
sultan dördüncü vites (7 months ago)
Your belt🤩🤩 i will come again after my final exam best econ teacher!
Soumya Negi (7 months ago)
the cooooolest prof. on the PLANET!! ............Sir Jacob Clifford!!
vishal singh (7 months ago)
Awesome
Anirudh Srinivasan (7 months ago)
thank you!
LifeIsSuperCool (7 months ago)
in 5 mins, I've understood more than 8 hours worth of in-class content. Thank you!
Paras khan (7 months ago)
awesome ! i love your way of teaching it's just fabulous
Tek Teng Foo (7 months ago)
I like how in your videos, I don't need to up the playback speed like 100% of other channels.
Bender Bending Rodriguez (8 months ago)
dude, take a Ritalin.
Phineas Yoli (8 months ago)
What about for the long run?
謝昊雨 (8 months ago)
我是中國人嗎
Yynna De (8 months ago)
prem kumar (8 months ago)
Salute man...... You are a engeiest men
Serena Cain (8 months ago)
does he have a facebook account???
Lyra (8 months ago)
real heroes wear ACDC belts
Andrew Weng (8 months ago)
had a econ test that i only started studying the night before, u saved my life
Y V (8 months ago)
gawd damnit this video is awesome. best explanation and super fun and entertaining. his energy is so great I stoppend and looked whether I suddenly sped up the playback speed lol.

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