Consumer and Producer Surplus- Micro Topic 2.6 (Holiday Edition)

Welcome to ACDC Econ and my first holiday edition. In this video I explain consumer surplus, producer surplus, and deadweight loss. Make sure that you can see how each change when there is a change in the market. *Correction* The consumer surplus at 0:59 in the video is $6000. ($8-$5) x 4000/2. It is a triangle!

Notice that deadweight loss happens whenever the optimal quantity is not being produced. This also happens when there are taxes or externalities. By the way, my wife, Paula, was the one throwing snowballs at me. We had to do it in two takes and I think she enjoyed it way too much.

I got the rock'n version of Deck the Halls here:

[brandonlee]

I really wish I discovered your videos earlier than the night before my micro economics final! You're my hero

[tuana]

my grandma just disowned me

thanks bro

[connorgreen]

You spend so much time helping out college kids who're extreme procrastinators like me. Thank you. You just got a new subscriber

[thedaychallenger]

Mr.Clifford.You have saved more lives than you can imagine.Great Stuff.

[smokeypillow]

You just made me understand consumer surplus in 5 seconds.
I couldn't understand my teacher for 20 minutes.

[JacobAClifford]

Happy Holidays! What did you think of the video? Did anyone get the "Let's say..." joke?

[OnlyViKnows]

I had a teacher back in highschool that made econ so easy that I thought I was good at it until I got myself a professor that made the class really hard to understand! My friend recommended your channel to me and I want to say thank you for making micro econ easy to understand! I have an exam tomorrow on Surpluses and Elasticity! Wish me luck!

[mariaburke]

I like how quick I understood the concept of deadweight loss in so little time. Thanks.

[ModernWelfareThree]

My economics exam was yesterday and I'm still going to watch this for some reason...Happy Christmas

[ravijaanthony]

Mr.Clifford, You're made me easy recall my memory.
Some teachers do say but I wasen't so confident about it.
You made it easy.Thank you very much for your support.

[alyssiayuan]

I don't know what I will do to get a high score in my Econ class without your videos! Thanks!

[HannaRommen]

i've been trying to understand economics for the pst 2 months, hasn't worked out, but today I decided to try watch some videos, came across your videos, I've learned more i the past 2 hours of watching you videos on repeat, than i have from my teacher in 2 months, thanks!!

[kensho]

Excellent work. I just binge watched a ton of your videos to prepare for my exam and have learned so much. I thank you for your time and effort in making these videos. I will share it with my friends.
Also that was a clever joke haha

[ShannonLamberson]

Great videos. You make the concepts so easy to understand. Also, I really appreciate the effort you put in to make the videos interesting and memorable.
Thanks,
-A grateful grad student.

[Bean-lbnb]

Mr. Clifford kept me entertained and helped me understand this stuff so well because the textbook was difficult to understand. I'm super engaged in his videos and will continue to watch all of his econ videos. He actually has me talking back to a screen lmfaooo. I appreciate him so much!!

[lonelyjokers]

I really like the way you teach :) I watched this video to help me get started on some homework that's not due for about a week, and we ended up learning about this in class the next day. I understood more from what I watched in 5 minutes that what I sat and listened to in 1.5 hours :)

[dilnozarakhmatullaeva]

i can't believe this video taught me the whole concept of PS, CS, DWL within 5 minutes that I couldn't understand for the entire lecture. You're just genius @JacobClifford thank you :)

[princekwamiso]

You just saved my day for my Economics exam today. Thanks. You explain it better than any other video I have watched online.

[yanniyazi]

Thank You! This makes so much more sense than all the text books, professors, and tutors combined.

[yashojha]

Sir! i appreciate you work.
you are the best teacher of ECON, you had made this subject interesting and fun...