Minimum efficient scale (MES) is the quantity at which a firm’s long …
Minimum efficient scale (MES) is the quantity at which a firm’s long run average total cost curve stops falling, and the size of a firm’s MES relative to the size of the market has a strong influence on market structure— large MES is associated with more concentrated markets.
Another type of price control is a price floor, which is a …
Another type of price control is a price floor, which is a minimum legal price. A real world example of a price floor is a minimum wage. In this video we explore how a minimum wage might affect a perfectly competitive labor market. Created by Sal Khan.
Moderate amounts of inflation are common in healthy economies, so some inflation …
Moderate amounts of inflation are common in healthy economies, so some inflation may actually be a good sign. Learn why in this video. Created by Sal Khan.
Monetary policy is the use of the money supply to affect key …
Monetary policy is the use of the money supply to affect key macroeconomic variables, such as real GDP. This video focuses on how a central bank can use open market operations and reserve requirements to enact monetary policy to close output gaps.
Most people assume that the government prints money, and that is how …
Most people assume that the government prints money, and that is how money is created. That is not entirely true. Watch this video to find out the role that banks play in the creation of the money supply.
In this video, learn about the two measures of money that are …
In this video, learn about the two measures of money that are part of the money supply: M1 and M2. Topics include what is included in M1 and M2 and the monetary base (which is sometimes called M0). Created by Sal Khan.
A monopolist might be pretty happy about its extraordinary profits, but these …
A monopolist might be pretty happy about its extraordinary profits, but these come at a cost for society. In this video we explore the welfare implications of a monopoly market. Created by Sal Khan.
A monopolist's marginal revenue curve is always less than its demand curve. …
A monopolist's marginal revenue curve is always less than its demand curve. We explore why using a numerical example in this video. Created by Sal Khan.
Price discrimination is charging each consumer their entire willingness to pay. What …
Price discrimination is charging each consumer their entire willingness to pay. What if a monopolist can charge each buyer their entire willingness to pay? Learn about the effect of perfect price discrimination on output and deadweight loss in this video.
We've learned in previous lessons that a price control decreases quantity and …
We've learned in previous lessons that a price control decreases quantity and efficiency, but is that always the case? Learn about the surprising effect of a minimum wage on a monopsonistic labor market in this video.
In this video we expand our analysis of the prisoners' dilemma to …
In this video we expand our analysis of the prisoners' dilemma to better understand the concept and definition of a Nash Equilibrium. Created by Sal Khan.
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