How to calculate Average Product, Total Product, Marginal Product

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Visual tutorial on production theory. This video uses numbers to explain total product, average production, and marginal product. These are typical topics discussed in economics and especially microeconomics classes.
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PlayList on Production Theory :
• Production Theory
Related Videos
International Trade
Edgeworth Box Diagram
• An Introduction to the...

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7 дек 2011

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Комментарии : 151

@baghdik18 10 лет назад

i wish you were my professor!

@economicsfun 10 лет назад

Well thanks! Good luck in your classes too.

@baghdik18 10 лет назад

my professor just come to class and talks about his gym and other stuff and uses example for that particular chapter and when we want to do the hw, we have to refer to youtube and of course your videos:)

@hasanzahid9637 4 года назад

Ghar le jao isko apnay

@MeLoTRoUBLE 2 года назад

@@baghdik18 same goes here too😥😥😪😪

@tribefan1989 11 лет назад

Thanks for the help! I learn better from your videos than I do in 2.5 hours of class every week!

@jesstaylornz 11 лет назад

i'm convinced i could have watched an afternoon of these videos rather than spent two weeks of sleepless nights for my upcoming exam. ;) thanks!

@waffa6679 10 лет назад

now i can understand the concept more clearly. Thank you for the great video. and my Microecons exam is tomorrow!!

@Snapattack2 12 лет назад

I just wanted to say thanks, you could not make it any easier. I saw other vids for this topic and I could not get them. I did with yours. Its not easy going back to school when your older but u helped my brain to get it. Thanks again.

@nataliesoutlet 9 лет назад

This was extremely helpful. Thank you.

@OMMCOMHD 4 года назад

damn son 8 million subs

@JR-bk6sb 3 года назад

bruh wtf

@nameme7702 2 года назад

83L subs?Dude wut? WOW! Idk if I should say it's good to see you here?

@economicsfun 11 лет назад

That is great to hear and good luck on your exams.

@sarloteuushona9899 9 лет назад

Smiles all the way! I'm not scared of the test and exam anymore. Thanks a lot

@economicsfun 9 лет назад

sarlote uushona Good luck on your exam. You can do it!!!

@arpitsinghyo 11 лет назад

Many many thanks from the depths of my heart.

@Pinito82 11 лет назад

Thank you so much, its kind of hard trying to understand this without having an instructor, dang online courses. Helped me figure out my homework for the week easily.

@philimonmoonze8914 5 месяцев назад

sir, but how have he come up with 18 on marginal product of labor, when we compute (336-60/8-1) = (14/1) = 14. then how have come up with 18 and 8. kindly assist me on that answer?

@olhapiatenko3686 2 года назад

Thank you, that was so helpful! I finally understood the basics

@nishatafza2988 11 лет назад

My exam is knocking my door. This video is a great help for me. Thank you very much :)

@lizbethreyna425 4 года назад

This was so easy to follow along and understand

@kprantoo 7 лет назад

seriously you are the boss of ecomics :D

@julietsoku8090 5 лет назад

Thank you sir now understand this hope you will be my professional tech

@nameme7702 2 года назад

It's good to see people came here when they had normal classes while I came here when I have online classes. Anyways, Thanks sir!

@jenniferroberts5752 9 лет назад

That was very helpful! I thank you!

@myratheoneandonly6176 9 лет назад

thank u for the video i just passed my economy exam no need for reenrolling

@JL-ki6vs Год назад

Very clear and concise, thank you

@mrgrob6579 3 года назад

Saved me for my Microecoomics exam due tomorrow at UCONN, still helpful in 2020! Thanks man! Hope you are doing well!

@anniehemings3796 3 года назад

U r from u s a ?

@mrgrob6579 3 года назад

@@anniehemings3796 yes, sadly I am 😂😂

@leemari7695 Год назад

Hold on, so the UCONN econ professor does not teach great? I’m planning to go to UCONN

@mrgrob6579 Год назад

@@leemari7695 this was during Covid so times were much harder than now. Especially with all classes being online it sucked so much! But now I’m sure with being in person you can get more help. Plus there are tons of different economics professors lol you most likely won’t have the same one I had. I can’t even remember his name to be completely honest

@leemari7695 Год назад

@@mrgrob6579 Thank you and thank you for responding so quickly Have you graduated from UCONN already?

@economicsfun 11 лет назад

Diminishing marginal returns sets in when slope of the marginal product line equals zero and after that marginal product is negative. I would encourage you to watch the entire playlist (there are only three videos). You should even try to watch the calculus proof. I included a link to the playlist in the video description.

@curlyycurlss641 7 лет назад

Thank you so much. Now I finally understand how to do it 😊😊😊

@lhigman 9 лет назад

Your explanations are easy to follow and a great help to me.

@economicsfun 9 лет назад

Laurie Higman Thanks Laurie! good luck in your classes as well. Make sure you like our Facebook pages www.FaceBook.Com/PartyMoreStudyLess this will help others find the videos.

@todayyesterday 5 лет назад

Come teach at montreal canada please. You, hands down , are wayyy better than my current microeconomics professor. His explanations are vague and so difficult to understand. If i didnt have to have 12 units per term i really wouldn't take microeconomics.

@zehankhan9646 3 года назад

It's simple and easy to understand.

@zmho 7 лет назад

Thanks A lot very good video. The quality it is very high

@biratbhandari6997 8 лет назад

thank so much its too helpful and reliable

@economicsfun 11 лет назад

Thanks for. I will correct that when I revise the video.

@nakulkumar7320 2 года назад

Helpful video, thank you.

@karthikponnayya1766 5 лет назад

YOU ARE AWSOME! Thanks pal!

@JamesFrancoQuinajon 5 лет назад

You saved me from failing my Econ exam tomorrow thank you so much sir

@meltemmusa2950 Год назад

Dis u pass

@designzandcreations7780 11 лет назад

this was a great tool thanks

@ameerakhan8275 9 лет назад

thank you so much....it helped me!

@philimonmoonze8914 5 месяцев назад

sir thanks so much, but how have you come up with 18 when we compute (336-60/8-1) = (14/1)= 14. then how have come up with 18 and 8. kindly assist me on that answer

@hunchokelly9359 2 года назад

Thanks so much man this helped a lot!!

@ririeretekabu9214 7 лет назад

thanks for yr video, it really helpful

@naseemahmad5040 2 года назад

Thankyou so mach sir this was extremely helfull

@candesiatheobald6224 8 лет назад

has anyone notice for the marginal product in doing my calculation instead of 18 i get 14 and instead of 8 i arrived at 6 unit....when u cal 336-322/8-7=14 and not 18 and even when u cal it the long way i would still get 14 units. (336-322)/8/(8-7)=14, likewise (342-336)/(9-8)=6 and not 8 unit..so please help me out here someone..

@streetlife3866 7 лет назад

Yea

@khanbaba-nc1fy 6 лет назад

candesia theobald yes

@MissHata93 5 лет назад

yes, you right.

@rinkusah3938 5 лет назад

It's an amazing video .......thank u

@brianmatedza2405 8 лет назад

thank you sir, which software were you using for the presentations

@ursuladaniels7062 3 года назад

thank you for your assistance

@economicsfun 10 лет назад

Typically in this exercises total product is given. You can calculate total product by multiplying average product time output (quantity produced).

@michaeldaskalakis 11 лет назад

Awesome! Do you have more trade videos?

@rendani9641 8 лет назад

How do we calculate total capital if it's not given when there are two fixed factors of production given in units ( units of Land and units of capital)

@mayasilver6535 8 лет назад

i study the intermediate microeconomic and its application for Nickolson and Snyder the problems and quizzes are soo hard can u do it please professor

@showbiz2238 4 года назад

Thanks prof 👨‍🏫

@animabernice3322 6 лет назад

Thanks alot,very clear

@johnpikathemusician271 3 года назад

Thank you so much 🎶

@economicsfun 11 лет назад

That is great to hear and thank you for the feedback. Make sure you like MyBookSucks on FaceBook (see link in video description). This will help others find the educational videos.

@cJ03charm 11 лет назад

thank you so much for this.. :)

@megs2710able 11 лет назад

This is really helpful! Thanks! (Y)

@nilofar728 Год назад

thank you so much!!

@ashleybyers3612 10 лет назад

With total product, are those figures usually given? I was recently given an exercise where we were only given the amount of labor and the columns for total product, average product, and marginal product were blank. How would you suggest completing such an exercise where the only thing given is the amount of labor? Thanks!

@wadjo1 9 лет назад

was there a graph givin in that exercise?

@alexlanglois1975 5 лет назад

I was also given a table without total product of labor given in some spots, without a graph.

@kammybabez 5 лет назад

How would I Indicate the points that delineate the stages of production

@rainierursonal9581 Год назад

Can i ask something? Why that the last of product of labor become negative -2 i was trying to solve then my answer is just 2 not negative, can you answer my question

@riehitsuji3968 8 лет назад

Thanks a lot for this video. It helps me a lot on my lessons especially how to compute for marginal product. But i think there is something wrong in the computation of marginal product of labor 8 and 9?

@shohruhrasulov5216 7 лет назад

yep, it should be 14 and 6

@riehitsuji3968 7 лет назад

yeah, thanks. :)

@wardahsabaruddin7849 7 лет назад

yes i was confused at the same part too , gladly you ask

@wardahsabaruddin7849 7 лет назад

thankyou to u too

@spyderdecp 3 месяца назад

Thank you so much

@economicsfun 11 лет назад

Great to hear and good luck in your classes too. Make sure you like MyBookSucks on FaceBook (see link in video description). This will help others find the educational videos.

@aniyamuhammad1438 Год назад

Hello sir, I have a question... is it short run or in the long run?

@stoopidvideo 9 лет назад

thanks a lot

@kashifatif1 11 лет назад

When you say slope of a curve for a particular value of labour is the marginal product, are you not confusing the nature of the data you work with, i.e discrete (which is the data used for production, and hence the need for average rate of change between successive units of labour) rather than continuous (instantaneous change)?

@garvitbhomia 5 лет назад

So total product will be given in the question right...there is no formula to calcuate total product?

@jessadandal2099 10 лет назад

thank you so much

@nathanwozere9758 6 лет назад

nice lecture

@anak_malas99 11 лет назад

u help me so much thx

@miguelgonsalves6161 9 лет назад

thank you now i can pass my exam

@ricajanemandariaga4310 2 года назад

thank u very muchhhhhhhh

@gracetjingeo2085 6 лет назад

How can I calculation the total products

@07sohair 10 лет назад

''i will use some nuuumbers'' loved when he said this

@mahnoorzafar8505 2 года назад

I have a question about how to find marginal productivity of constant variable

@stellamuthama6890 3 года назад

How did you get the figures of the total product.

@hussainrajallah4110 6 лет назад

THANKS A LOT

@RapTVShorts Год назад

Nice man! Got exams by morning.

@drallisimo34 8 лет назад

great!!!

@shunanu 11 лет назад

where does the output of diminishing returns set in?

@07sohair 10 лет назад

can you put marginal product and average product on the same graph? Or did you just do them separately to distinguish them??

@shubhamarora1287 10 лет назад

Yes i can put TP,MP and AP together in a graph.. mail me at shubhiarora40@gmail.com and i will click a photo and attach it for you if u wanted :)

@slimwiz101 11 лет назад

Thank You

@MrFatah786 3 года назад

God bless you

@economicsfun 11 лет назад

Marginal product (MP) and average product (AP) will be equal only if total product is not changing. Typical MP and AP do not equal each other.

@collinpaul1271 2 года назад

Exactly right At the point of tangency...good stuff 🔥

@youngboylexis2763 2 года назад

This helps 🙏🏾💌💌

@janehan7829 2 года назад

What does it mean in marginal product reaching 10??

@vcvitiko 8 лет назад

what if total product is not given?

@terrionvegas617 5 лет назад

336-322= 14, 8-7= 1 divide it get 14. why is it become 18?? and 342-336=6, 9-8=1 divide get 6. why is it 8?? any help?? or is it a mistake there??? thnks....

@featherlc1756 5 лет назад

So there's nothing to do in amount of capital ?

@myleepoo 8 лет назад

in marginal product, 8, 9 and 10 amount of labor I get 14, 4 and 2 respectively by using this formula. How do you get 18, 8 and -2 ? It's biased me >.< . Please help me out. Thanks

@riehitsuji3968 8 лет назад

I got marginal product of 14, 6 and -2 on labor 8,9,10.

@theloversofart.wehearandsp3908 8 лет назад

what if the total product is not given ?

@stanleyswoloquelli1435 7 лет назад

Thanks

@economicsfun 11 лет назад

The only one I have on international trade is the edgeworth box diagram. I am in the process of creating more videos for international trade. I just added a link in the video description of this video.

@kietgwyneth9313 Год назад

What happens if total product is not given?

@georgearmaos9811 5 лет назад

I have ec. exams tmr and i dont know shit😂

@jhumabhattacharjee5504 4 года назад

Sir how to calculate total product average product of labour is given

@jeremyfatusin307 2 года назад

What is the amount of capital is different

@majlindamanushi9057 8 лет назад

Where did you find the numbers 52, 34 and 16?

@majlindamanushi9057 8 лет назад

+Kristi Manushi Bump

@economicsfun 11 лет назад

Great to hear. I was going to name my business myprofessorsucks, but went with MyBookSucks instead. Make sure you like MyBookSucks on FaceBook (see link in video description). This will help others find the educational videos. You can help ease their pain.

@economicsfun 11 лет назад

You are very welcome! Make sure you like MyBookSucks on FaceBook (see video description for link). This will help other students taking online courses find the educational videos.

@maikhacba 9 лет назад

i think if TP = 0, AP and MP unknown

@daveshboodhoo7301 5 лет назад

MP = 0 AP = unknown

@MohamedAli-dx2fp 5 лет назад

Come back plz to see how you were doing

@admirablestrength305 7 лет назад

Marginal product of labor= Total product divide by amount of labor 57-0/1-0=57/1=57

@economicsfun 11 лет назад

You are very welcome and luck on your exam -- you can do it! Make sure you like MyBookSucks on FaceBook (see link in video description). This will help others find the educational videos.

@economicsfun 11 лет назад

You are very welcome! Make sure you like MyBookSucks on FaceBook (you can see the link in the video description). This will help me spread the word about the educational videos.