When I see a problem relating to them I scream internally. Has anyone made up some explanation to wrap their heads around where one minimizes and where one maximizes.
*raises hand*
I’ve not had an economics class in years…
Hm…I wish I could help, but I just finished an econ major so it’s just four years of drilling that stuff in for me.
After interacting with them, they just make intuitive sense now. I just grilled them in QBank + read the Investopedia CFA Level 1 guide on econ.
lol … yes its really confusing to the extent of frustrating… econ is not one of my best subjects but its not one of the worst either…
Ive gotten really good at econ, I improved my scores dramatically, i read the notes 2 times, watched all the videos and read the secret sauce on econ and still can no way aproach these problems with confidence. I know how to calculate them but when i have to reason the logic in the questions i just depend on luck.
Knowing the graphs for all four firm structures really helped me…when I see a problem I try to draw something out real quick to get a feel for the the problem is asking.