Basic arithmetic and comfort interpreting a graph are useful. Follow the assumptions of each model rather than treating every simplified example as a real-world prediction.
About this course
A firm’s output decision depends on how costs and revenue change at the margin. This focused course connects fixed and variable costs with average costs, marginal costs and pricing examples. Study the complete public source playlist from Khan Academy in English, with all 6 recordings available in the on-site classroom. Lessons retain their original titles and source order, including worked examples, introductions and repeated entries.
Course at a glance
| Provider / Teaching team | Khan Academy |
|---|---|
| Platform | YouTube · Khan Academy |
| Access | Free Video |
| Level | Beginner |
| Language | English |
| Videos | 6 |
| Video duration | 49m · allow extra time for practice |
| Format | Self-paced recorded training |
| Certificate | Not included with video viewing |
What you’ll learn
- Distinguish fixed, variable, average and marginal cost.
- Interpret cost relationships using slopes.
- Compare marginal revenue with marginal cost.
- Separate output-choice reasoning from total profitability.
Skills you’ll gain
- Cost analysis
- Marginal cost
- Marginal revenue
- Pricing models
Course Overview
The cost lessons distinguish a total amount from a per-unit average and from the additional cost of one more unit. Graphical slope interpretations connect those quantities rather than treating them as unrelated formulas. Marginal revenue and marginal cost are compared in examples of output choice, including a case where marginal revenue lies below average total cost. That distinction helps separate the decision about an additional unit from the question of whether total revenue covers total cost. The price-discrimination recording extends the discussion to charging different prices under the model’s conditions. This short sequence assumes some familiarity with basic market graphs; it is concentrated on the recorded cost and revenue relationships rather than every aspect of production theory.
How to study the course
- Videos 1–1: this part of the source list includes “Marginal cost and average total cost” through “Marginal cost and average total cost”. List the assumptions of the model. Keep a brief working note, revisit an unclear explanation and test one example before moving to another part of the material.
- Videos 2–3: this part of the source list includes “Fixed, Variable, and Marginal Cost.” through “Visualizing average costs and marginal costs as slope”. Identify the participants and incentives. Keep a brief working note, revisit an unclear explanation and test one example before moving to another part of the material.
- Videos 4–4: this part of the source list includes “Marginal revenue below average total cost” through “Marginal revenue below average total cost”. Compare outcomes after one defined change. Keep a brief working note, revisit an unclear explanation and test one example before moving to another part of the material.
- Videos 5–6: this part of the source list includes “Marginal revenue and marginal cost” through “Price discrimination”. Explain a mechanism before making a conclusion. Keep a brief working note, revisit an unclear explanation and test one example before moving to another part of the material.
Who is this for?
This course suits students and interested readers studying the named economic concepts. It also provides a recorded reference for revisiting a topic after an earlier lesson or study attempt. Choose examples appropriate to your background and allow time to work through the method instead of judging understanding only by how familiar the terminology sounds.
Before you start
Basic arithmetic and comfort interpreting a graph are useful. Follow the assumptions of each model rather than treating every simplified example as a real-world prediction.
Put the lessons into practice
Build a short output-and-cost table for a fictional producer. Calculate total, average and marginal cost at each output, and compare them with a stated revenue schedule. Explain which additional units improve the outcome and whether the resulting total revenue covers total cost. Use a separate paragraph to describe the conditions behind the price-discrimination example taught in the course.
This optional study activity is provided by WikiFree for independent practice. Keep your working notes and use the relevant classroom recording to check a step, definition or interpretation. It is not an instructor-marked assignment.
Certificate / Assessment
Watching the public videos and using WikiFree completion tracking does not award a certificate, academic credit, an examination voucher or instructor assessment. Use your practice output to review what you can explain and repeat independently. The recorded lessons provide study material; completion tracking records your progress through that material.
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Beginner
Compare course focus, level and study time
| Course | Level | Focus | Study time |
|---|---|---|---|
| This course — Production and Costs: Free Course | Beginner | Cost analysis · Marginal cost · Marginal revenue | 49m of video; practice time is additional |
| Microeconomics Fundamentals: Free Course | Beginner | Opportunity cost · Economic models · Marginal reasoning | 1h 3m of video; practice time is additional |
| Macroeconomics Fundamentals: Free Course | Beginner | Production possibilities · Comparative advantage · Trade | 1h 48m of video; practice time is additional |
| Firm Behavior and Market Structures: Free Course | Beginner | Market structures · Economic profit · Monopoly | 2h 3m of video; practice time is additional |
Frequently asked questions
Is this course free to watch?
Yes. The public source videos are available in the WikiFree classroom. Video viewing does not include separately priced tools, hardware, memberships or a credential.
How long does the course take?
The 6 source video occurrences total approximately 49m. Allow additional time for pausing, notes, practice and revisiting an explanation.
What background do I need?
Basic arithmetic and comfort interpreting a graph are useful. Follow the assumptions of each model rather than treating every simplified example as a real-world prediction.
Does completing the videos award a certificate?
No. Video viewing and WikiFree progress tracking do not award a certificate, academic credit or an exam voucher.
Can I study on a phone?
Yes. The classroom supports a responsive player and searchable lesson list. A larger screen or a suitable practice environment can help with detailed calculations, diagrams and software examples.
Provider: Khan Academy. Videos play from the Khan Academy channel on YouTube.
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