Monopolistic Competition

In this video I explore what monopolistic competition is with examples of it, characteristics required to achieve this, diagrams of it in the short-run and long-run. A supplementary booklet can be found below.

Costs, Revenues & Profits: The Basics

In this video I go through the definitions and formulas of the economic key terms total cost, variable cost, fixed cost, average cost,average variable cost, average fixed cost,marginal cost, marginal revenue, total revenue, average revenue, normal profit and supernormal profit.