Micro: Unit 1.6 -- Consumer Surplus, Producer Surplus, and Deadweight Loss

Показать описание

Hey Everyone! I'm Mr. Willis, and You Will Love Economics!

In this video, I will:
- Define consumer surplus, producer surplus, the buyer's maximum price, and the seller's
minimum price
- Identify the areas of consumer surplus and producer surplus on a graph
- Explain how changes in market price and quantity will impact consumer surplus and
producer surplus in the market
- Practice calculating consumer surplus using several sets of equilibrium prices
- Define deadweight loss and explain how the presence of deadweight loss implies that a
market is allocatively inefficient
- Identify the area of deadweight loss on a graph
- Practice calculating deadweight loss using several sets of equilibrium prices
- Demonstrate how government intervention will impact consumer surplus, producer
surplus, and deadweight loss in a market

Are you looking to teach this topic in your class? We have designed an activity to fit perfectly with this video:

Follow our store on Teachers Pay Teachers

Look for us on Social Media:

Subscribe to our YouTube Channel:

You Will Love Economics

Рекомендации по теме

Комментарии

waoo I never knew its this easy to understand.. i was total confused during the lecture in class.. thanks in a million for helping me.

victorudu.

Mr Willis
I watched a couple of your videos before my final including this one
and I remember there was a rather tricky question to which I didn't know the answer.
Luckily, I really understood how the diagram works from your videos and I used those diagrams/models to test out the scenario given in the question and come up with an answer. I did this for a couple of questions and I can't believe I got all of those right.
You sir, are raising the next generation of thinkers.( also lowkey please teach at my college)

karumotoart