Microeconomics Unit 6 COMPLETE Summary - Market Failures and Government

This video covers all of the key points of Unit 6 from the AP Microeconomics Course Exam Description (CED). Social efficiency, negative externalities, positive externalities, government regulation, the Lorenz curve, and the Gini coefficient.

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[norahhaque]

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[marchoui]

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[dr.finestein]

Thank you! AP exam on Tuesday, I feel way more confident after going through all of these unit review videos, everything was explained perfectly

[maaaram]

EXAM IS TOMORROW!! Thank you for being one of the few people to properly explain unit six. My teacher and other videos I haven’t been able to understand, but I appreciate how your explanations are straightforward and easy to understand.

[zenon]

The exam went great thank you so much Mr Reed! Now it’s time for Macro

[YUBOYIN-eslc]

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[kevinmortenson-qeqo]

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[jessicayao]

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[Van-ijve]

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[erikedomenech]

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[Mouath]

What is your advice to do in these days before the exam and what are the most important units

[sarahhd]

at 9:01 why would you give a per-unit subsidy to the consumer and not the producers?

[aahanaashok]

What are the most common Micro FRQs? Is there a pattern to them like there is in Macro? (ex: question 1 in macro is typically AS/AD or Phillips curve, question 2 could be Phillips/FOREX)

[spice]

the ap exams are in a week, and you are the reason i am going to get a 5.

[sarahhd]

At 9:01 how come the per-unit subsidy is given to the comsumers

[arshia]

i get why at 5:40 the marginal social benefit would be less than the private benefit so the MSB is shifted left, but at 4:58 wouldn't the cost to society be higher? so why isn't the MSC shifted right?

[vaniakarna]

For special occasions some people purchase and set off fireworks in their backyards. Assume the market for
fireworks is perfectly competitive. the answer key says that this is a negative externality in production. why not negative externality in consumption?