Fixed, Variable, and Marginal Cost.
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- čas přidán 19. 01. 2012
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Thinking about average fixed, variable and marginal cost
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Not only did I learn about Fixed, Variable, and Marginal Costs
but also learned how to use Excel lol
This is literally the help that I needed that I did not get in my class. This video has truly taken the frustration out of figuring things out by myself!
Awesome lesson. I have a microeconomics test in the morning exactly about this. Thank you!!
"i'm having issues here" - quote of the year
this has potentially saved me for my exam tomorrow, thank you@!!!
Thank you! You're really good at explaining things! I came to learn Econ but I also learned some Excel tips too.
wow wow I literally enjoyed this one...Thanks.
THANK YOU SO SO MUCH FOR THIS!
👏 thank you! Bravo! Finally starting to understand
are you making the fc and the vc up?
It was awesome! Really helpful specially for people like me, who are from Sc. background!
@FrankiePoker thanks. I'm watching that playlist now, and it's very good.
I'm glad I actually already knew this
awesome video very easy to understand
How can i calculate the Variables Costs and Marginal income
Very useful, thank you.
Wow, amazing video. Can you do some business videos, since you have MBA?
My only observation is that the second,and maybe and third, added worker should have made the total product greater than what two workers can produce by themselves, to show the synergy effect, which is more realistic. Then the total product can go down as we add more workers to come back to the scenario you're following.
What I am saying is there is a little step in the scenario that's skipped, probably for the sake of simplicity. Other than that, excellent video, helped me a lot !
Great video!!!
Thanks Khan
great video!!!
🙏🏼really helpful!
THANK YOU!!
Thank you
Dear Friends,
I have 2 questions:
1/ In a promotion program (buy 3 product A and 2 product B then customer will rebate to 5000 USD).
Question: I want to calculate the break-even point of this program, what are the variable and fixed costs?.
2/ With the long-term business strategy, I think we should do the business process is:
Step 1: The Board of Director (BoD) write the long-term strategy.
Step 2: The Departments (exclude financial) will be write the plan of each SBU (Strategic busines unit).
Step 3: The Financial department write the financial plan (OPEX plan and CAPEX plan, bank loan, M&A transaction)
Step 4: The BoD review and feeback, the departments modify and re-submit. Final, the BoD approve.
Step 5: The company execute and review the final result.
How do you think?. Thank you.
@Emeengor I sometimes wonder how is that not easy to do, but I think it gets much harder when you get to the higher levels
if im only given units(output) column. and total cost column, all other columns are empty. and they say calculate marginal cost, average fixed cost average variables and average total cost. eg. output is 4. total cost is 220
thanx
Lines of code is quantity
how do you assume the variable cost? None of the problems we are doing do we get to assume that number.
praying i pass this next microeconomics exam. if i fail this, then i fail the class, gonna take macroeconomics because i went into micro without knowing what it consists of. I'm a software engineering major.
Looks like hiring 3 people or hiring 7 people are the most efficient options for low-budget/output and high-budget/output respectively.
Would it be possible for KhanAcademy to make a video series on using Excel? :) Thanks!
theirs already a lot of them on CZcams, look it up.
Khan is better because it doesn’t drag on, it easier to understand
I think it's an output since it's the programmers' combined productivity.
As a CS major, seeing lines of code equated to productivity is nightmare fuel haha. Great video though!
Does productivity come into play and how
@Emeengor its obvious if someone hits another person with their car that the driver will be liable but it's still covered when you go to law school... As this, it also needs to be covered.
How can I calculate fixed cost and variable cost if I only have quantity and total cost!!??
+Nick Soccer same... still cant find how...
me neither and I have a test tom...
if you meant that you have given a total cost FUNCTION then fixed costs are without any variables and variable have variables
ex. TC=100q+100 then 100 is total cost function, 100q is a variable cost function, seems reasonable
actually i'm not sure if you asked about it but if you didn't just ignore
umm...
So lines of code is basically q or unit of output?
From where 10000 amount came to used in variable cost?
Awesome, but waht about physical product? Average product, average total product, total product, marginal product?
what is "lines of code per month" ? is it an input or output ?
All I could think about was how he sounded like Brendan Fraser haha
I am still confused. First, you said add...then you said to multiply. Please make this less confusing.
where'd the fixed cost come from
Beautiful! Thanks so much.
This is actually funny that I learned it pretty much the same way at school. This is normal since economics is a science I guess :p
or is it Total Product ?
@PSPhacking2009 Yes Bangladeshi Father and Indian Mother
??i thought quantity should be the number of programmers instead of lines of code
please give a simple example.....
@Emeengor Yes, people unfortunately need to be taught obvious things such as how to spell.
Would adding that 8th person create what is called a dis-economy of scale? (I'm learning and considering taking undergrad econ. Currently have a French degree that sincerely enriches my impoverished life.)
💕 French is a beautiful language; I wish I could pick it up.
still don't understand about Variable Cost ! " Well, Let's just say that the full compensation for a programmer is $10,000 a month." Why $10.000 a month ??? saying for fun ? lol please explain this ! pleaseeeeeeeeee
That's what I'm trying to figure out as well. Since the variable isn't given.
i still don't understand
1st its was a typo... 2nd I am not a native english speaker nor do I live in an english speaking country....
why 15000
so what if variable cost is missing and all the data is given? what's the formula for that?
VC=TC-FC
Wanda Diggs woah thanks for the reply. I hope you could reply as soon as possible. so here it is ummm the only given items that is given to me are: FIXED COST: 70,000. UNIT SOLD: 2000 units. NET INCOME: 200000. CM: 25% of sales. No sales and variable cost per unit
Sorry, I don't know how to determine VC from this info. Hopefully someone else will respond. Best wishes.
Wanda Diggs oh okay. Thanks anyway :)
I wish you the best on your assignment, Shazer.
why would lines of code go down with more programmers :X
Think of it this way.
If there is only 1 programmer, he/she has all the power and say in what code to write down. However, let's say the company adds another programmer. Now there are two programmer. Now that first programmer can't just write down whatever code he/she wants, because now the two programmers are going to have to have meetings regarding which code to write, or maybe they don't always agree so that may delay the project. So in a sense, as more programmers are added productivity will increase but at some point productivity will start to decrease.
+Sharter189 Team work is hard so it makes work inefficient
Diminishing Returns
As the number of workers increase, workers must share the fixed amount of equipment and may get in each other's way ---> Diminishing marginal returns to labor.
what, i didint know you thought business lessons
3:00
sorry i hate to sound like a smarta55 but is this really considered to be a science? and do people really need to get tought these obvious things?
lol "varilbe"
Too fast,,,,,
wow i like that little snowflake
cool story bro, nobody cares