Short-Run Costs (Part 1)- Micro Topic 3.2 

Who’s watching this at midnight and have economics exam tomorrow?😂

8 years later and still relevant, thank you for explaining

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Jacob, I don't know what I do without you

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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. ;)

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if the marginal cost is the change in total price ÷the output/quantity shouldnt the marginal cost be 20 and 13.50 for the first two output levels?

Hi Mr. Clifford, do you have any lectures about the shut down price, break even price and profit maximizing level of output? I am struggling with it. Thanks. Btw, what's the ACDC song that was played?

Thank you

00:40 I'm in there!

you are magician

You have saved more lives than you know..

thank you

You taught me more about "cost of production" in a 5 minute video than my microeconomics professor taught me in 2 weeks. Thanks for explaining so well.

Anyone notice that dude in the back right who kept a straight face the entire time

These videos might seem silly to some people, but as a graduate student who enjoys economics but is still struggling with exams -- these videos are saving my life. You are really making the concepts understandable to me in such a short amount of time. So, a thousand times, thank you.

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The kid on the far right starred into my soul

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The one dude in the back with a black t-shirt's reaction to the celebration tho.

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Drinking game: Take a sip every time he says cost.

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Mr. Clifford is the Econ Master!! I appreciate your material so much to supplement my Micro-classes. Thanks for being awesome!

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1,000 times more graspable than my microecon textbook. Well done and thanks!

You have posted this video 8 years ago and till this day (2022), you are still impacting and educating young students like me. I cannot thank you enough! I literally wish i can pay you back all the effort you put in those videos. THANK YOU JACOB!!!!!

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Wow, I wanted to sleep but after watching for a minute and half. I'm wide awake. Gosh! Now it all makes sense. Textbook >>> Complicated, jargon, very tiny words and lost of graph. ACDC video >> Simple, simple and so simple.... Yes transferring knowledge should be easy for the receiver to understand. Thanks... from T.k in Jamaica.

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This man is obsessed with pizza ovens.

0:17 dude in the far back left just standing there has me dead

0:17, lol, they are all good looking, selection much? and kudos to the not excited guy in the right.

God bless you, I'm so happy you were born.

0:17 the guy at Top Right corner seems very excited about Cost Curves .

You look like Marc Cuban.

Now i understand marginal costs. Thank you 😀

He's a great teacher but feels like bullet is coming out of his mouth lol

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Thank u, u saved me from not knowing anything for my econs exam next week😂

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.

I have been struggling the past week with this topic. One part is my professor is foreign and hard to understand, but the other is he assumed we understood all of this and went over everything to do with cost curves in one day. Thank you for the video!!!

how do you get the variable cost. can someone help me? My total variable cost is 43755 and my outputs are 1500. What should i put on my variable cost column?

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lol one guy was all serious in the back.

I think what really makes these videos work is how positive he is, it makes me feel less afraid to try

This video taught me more about cost curves than 10 pages in my text book and 10 min uni lecture video. Life saver for my exam.

Can someone explain change in output cost to me? I don't get why will the output cost change, if you make on additional pizza the cost of the pizza is gonna be the same, right???

Thank you Mr. Clifford.. absolute life saver

How did you $7 and $8? None of them are divisible by anything that equals that number

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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!

the best contemporary economics guru..

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2:53 Marginal cost = (Change in Total Cost) / (Change in Output)

One word...... Awesome

Wow... I was doing my chapter reading about this topic and I was seriously spending 30 minutes and more to understand this concept. And this topic became clear to me after watching 5 minutes of your video. Seriously, thank you so much for teaching how these connect together! Salute to you good sir!

You are singlehandedly getting me through Microeconomics... and probably Macro next semester. Thanks for all your breakdowns!

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Thank you for making Econ FUN! The blips of excited kids made me laugh out loud too - On to part 2!!

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Plot twist: He's Mark Cuban's economic strategist..but better

who stressing last minute for finals

Thaaaaanks soo much Jacob, simple and easy to understand!

I'm kinda lost on change in total cost/change in output. By looking at the chart its easy to subtract and find the change, but how was the formula used to obtain the marginal cost? 20/2=10 but 27/3=9. How do we use the "change in total cost/change in output?

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Omg, I’ve read this chapter 4 times in the last hour and didn’t get a thing. You explained it so well it all makes sense. Thank you! You deserve the Medal of Honor for saving my life and many others I’m sure.

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It's what i needed for the finals now i didn't know we had this in our book :') thank you mr. Clifford