Exploring Equilibrium

In this video, we’ll review equilibrium in the adjustment process, showing that the equilibrium price is the only stable price. Then we’ll take a look at equilibrium quantity, where quantity demanded is equal to quantity supplied, and how this plays out in a free market economy that seeks to maximize gains from trade.

***TEACHER RESOURCES***

***CONTINUE LEARNING***

00:00 Equilibrium and Price Adjustment
01:30 Unexploited Gains from Trade and Waste
04:08 Consumer and Producer Surplus
04:49 Conclusion

[andrewlittle]

I've invested time and money into many failed startup businesses since 2008(most recent being a mlm company a few years ago), so I've been in the field of finance & economics for a while, but some of the stuff taught in these lessons I've never knew before. Great tutorials!

[lehijorgensen]

Your videos are so helpful! And not a total snooze-fest like my text book!! Thank you so much!!

[TheSnookerGym]

Great videos guys - very good. Why did you set up this channel by the way? I mean I went to your site and there is no chargeable products there so it seems you might be the most generous guys in economics if you truly are giving all this away!

[kaseshib]

If the elasticity of demand is low and the revenue is higher at a certain price point than the equilibrium revenue, why would there be factors still pushing the supplier to lower the price of the good? ex: equilibrium for the oil is $70 and 68 tons of oil, but at a price of $75 the quantity demanded is 66 tons of oil. The revenue for the equilibrium would be $4760 and at $75 the revenue would be $5100. What incentives would there be from the producer to lower the price to the equilibrium level?

[GloriaRodriguez-vygk]

Thank you so much for the free economy lessons :)

[Simran-xnec]

Amazing explanation provided by you guys. I hate studying from the book so I watch your videos. So glad I ran into this channel!

[MarginalRevolutionUniversity]

***TEACHER RESOURCES***

***CONTINUE LEARNING***

[CharrizaJhoii]

This is just so useful for me now thank you so much!!!!

[lixiaoling]

Nice video! Is the PPT slides available to download? TQ :)

[sephy]

I’m going to love these videos from now on. Thank you!

[sivonparansun]

No practice questions available for this video??

[ilya]

I feel like the way I understand one things clashes with what I'm understanding about something else. My professor is too cocky to effectively answer questions, so I'll keep watching these videos in the hopes that something will click.

[johnsullivan]

I recognize the Jules in Vincent reference. Calling it a Royale with cheese was the initial giveaway. Does that make me old?

[saravanansaravanan-iqcl]

Why the supply curve is not start from origin pls explain