Consumer and Producer Surplus- Micro Topic 2.6 (Holiday Edition)
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Күн бұрынUpdated version with no audio issues- • Re-upload- Consumer an...
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.
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@brandonlee4815 8 жыл бұрын
I really wish I discovered your videos earlier than the night before my micro economics final! You're my hero
@brian77771 7 жыл бұрын
lol,same
@pkgamma 5 жыл бұрын
lol that's me
@tejdande857 5 жыл бұрын
the fact that im right here 45 mins before my micro exam watching this to get that 50% i feel attacked
@cleangamer1254 4 жыл бұрын
@@tejdande857 legit me rn :/
@tejdande857 4 жыл бұрын
@@cleangamer1254 GOOD LUCK I'm sure you'll do well
@tuana2773 6 жыл бұрын
my grandma just disowned me thanks bro
@smokeypillow 6 жыл бұрын
You just made me understand consumer surplus in 5 seconds. I couldn't understand my teacher for 20 minutes.
@jingzhipei5893 5 жыл бұрын
SmokeyPillow I couldn’t understand for two hours
@terminus9321 5 жыл бұрын
I still don't understand this
@zhaobopan5573 3 жыл бұрын
@@arjunkapasia6044 hah,
@JacobAClifford 8 жыл бұрын
Happy Holidays! What did you think of the video? Did anyone get the "Let's say..." joke?
@donnyphilippe5187 8 жыл бұрын
+ACDCLeadership I don't how to solve demand function and revenue function to find profit maximizing quantity...! please help.
@kevind1721 8 жыл бұрын
+ACDCLeadership "What is deadweight loss?" "It's deadweight loss." I got it!
@JacobAClifford 8 жыл бұрын
Yes, it is the lost efficeincy when a market is not at equilibrium
@donnyphilippe5187 8 жыл бұрын
+ACDCLeadership What about my question?
@rakkini23 8 жыл бұрын
+ACDCLeadership great as always
@connorgreen8880 6 жыл бұрын
You spend so much time helping out college kids who're extreme procrastinators like me. Thank you. You just got a new subscriber
@the7daychallenger851 7 жыл бұрын
Mr.Clifford.You have saved more lives than you can imagine.Great Stuff.
@ModernWelfareThree 8 жыл бұрын
My economics exam was yesterday and I'm still going to watch this for some reason...Happy Christmas
@JacobAClifford 8 жыл бұрын
+James Merry Christmas to you too. I hope you did well on your exams. Thanks for watching
@OnlyViKnows 4 жыл бұрын
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!
@mariaburke3525 7 жыл бұрын
I like how quick I understood the concept of deadweight loss in so little time. Thanks.
@ravijaanthony 5 жыл бұрын
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.
@kensho6711 7 жыл бұрын
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
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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!!
@ShannonLamberson 8 жыл бұрын
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.
@T0NYthomson 8 жыл бұрын
Just wanted to say thanks for all the help your videos have provided for me as well as alleviating stress. Subscribed and told all my friends in my micro class to check out your videos as well. Merry Christmas!
@JacobAClifford 8 жыл бұрын
+Anthony Thomson Thanks Anthony. Merry Christmas to you too
@alyssiayuan7463 8 жыл бұрын
I don't know what I will do to get a high score in my Econ class without your videos! Thanks!
@lonelyjokers4 7 жыл бұрын
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 :)
@dilnozarakhmatullaeva5399 5 жыл бұрын
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 :)
@hitlerreacts2920 7 жыл бұрын
OMG you are a legend. Love your work. Literally are legit like my economics tutor rn. Thanks so much
@mongolia12546 8 жыл бұрын
Happy holidays for you too! Thanks for taking the time and effort for making these videos :)
@JacobAClifford 8 жыл бұрын
+Ssoko45 Soko You are welcome.
@yashojha9489 8 жыл бұрын
Sir! i appreciate you work. you are the best teacher of ECON, you had made this subject interesting and fun...
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I've got happy tears in my eyes. It's all so clear now and I FINALLY UNDERSTAND. I have my final exam in a week and I hope that I'll be able to learn enough from your videos until then. THANK YOU, YOU WONDERFUL HUMAN BEING!
@OnlyViKnows 4 жыл бұрын
I KNOW HOW THAT FEELS! MY PROFESSOR MADE IT HARD FOR ME TO UNDERSTAND AND I GOT AN EXAM TOMORROW! How did you do on that exam?
@stephanienatacha9189 8 жыл бұрын
wow i watched this just in time for my final tomorrow. Thank you for making this youtube channel. It has seriously helped me out so much.
@JacobAClifford 8 жыл бұрын
+Stephanie Natacha You are welcome Stephanie. Please make sure to subscribe. The more subscription, the better the position on KZfaq and the more people I can help.
@mosessigauke6874 4 жыл бұрын
one of the best I am not a type of a person who watch Economics videos but got the link from my lecture and now I will watch more your style of teaching is awesome
@Bean-lb9nb 9 ай бұрын
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!!
@theycallmegray947 6 ай бұрын
Great video, thank you. I have an exam tomorrow and this really made me understand the fundementals. Thank you good sir. Also hillarious twist you added with the winter atmosphere
@yanniyazi6197 6 жыл бұрын
Thank You! This makes so much more sense than all the text books, professors, and tutors combined.
@princekwamiso 4 жыл бұрын
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@blueice1364 8 жыл бұрын
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Love your videos! My teacher is too quick when he is giving us information so I don't really have time to comprehend what he is teaching. Your videos are easy to understand and I can watch them as many times as I need! Thanks so much!
@JacobAClifford 8 жыл бұрын
+Tia Cannady You are welcome Tia
@bibubbletea 2 жыл бұрын
Thank you, you helped me understand my college assignment a bit more. Thankfully it’s not the night before my test, but I do have to finish this assignment so now I understand much more!
@samaysoni4015 5 жыл бұрын
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@alexbalansay 8 жыл бұрын
Just chanced upon this video since my college prof. isn't too great at explaining. Love you on Crash Course as well!
@JacobAClifford 8 жыл бұрын
+Alex B I appreciate it Alex. These videos are desigend to help you study for exams. Crash Course keeps it a little more general
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+ACDCLeadership you're a life saver!
@brinjoseph7423 8 жыл бұрын
I love your videos so much. You're literally the only reason I'm passing economics. Thank you!
@JacobAClifford 8 жыл бұрын
+Brin Joseph I'm glad that I could help Brin
@aubriraymundo8264 3 жыл бұрын
I love how you explained this! You're so Awesome!
@samanthamanning4603 5 жыл бұрын
You really simplified this! My teacher tried to really over complicate things to the point that left me beyond frustrated. Why can't everyone teach the way you can obviously?!
@zukaking3582 4 жыл бұрын
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@GuitarreroDaniel 3 жыл бұрын
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@nicolezhang727 5 жыл бұрын
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@ErikPT 4 жыл бұрын
You just explained an entire chapter of consumer surplus and producer surplus even better than my seminar instructor did!
@jessicas4060 6 жыл бұрын
Thank you thank you thank you for making this subject which is is actually really interesting, but often bogged down in complexity and dull professors, so easy to understand!
@aylaallen6860 8 жыл бұрын
Thank YOU so much for Your amazing videos! I just admire your explanation methods. I should say that before watching your videos I hated economics and found it very hard to learn or understand. However, Your explanation methods (your jokes, positivity, knowledge and of course, amazing teaching skills) made me love this course veery much!!!! I never get tired when I watch your videos, and even try to learn more and more.. Thank YOU So much, and please just keep up your perfect and helpful work! :)) God Bless You! :))))) And HAPPY HOLIDAYS! :)))
@JacobAClifford 8 жыл бұрын
+Joyka Merry Thank you Joyka. Happy Holidays to you.
@user-uy7mx5cj5j 11 ай бұрын
you really do make this easier. thank you
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The 'repeat after me' moments are so underrated.
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ACDCLeadership, love the way you explain everything
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Thanks for the help and great video! Thumbs up
@JacobAClifford 8 жыл бұрын
+Adnan Mkamel I'm glad that it makes sense
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i honestly would be failing my econ class right now if it weren't for your videos. soooo appreciative keep up the amazing work
@JacobAClifford 8 жыл бұрын
+xodevonn That's awesome. I'm glad I could help
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I lit laughed during an Aecon lesson! Thank you!!
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THANK YOU! So helpful!
@JacobAClifford 8 жыл бұрын
+Sarah Marie You are welcome
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i am writing optionals today. i wish i'd discovered this channel earlier, i would probably have had better results. crossing my fingers and hoping for a distinction
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@jennykelly8276 6 жыл бұрын
I wish my professor could explain things as clearly as this. Thanks!
@deutschlandmeinvaterland1568 4 жыл бұрын
I'm being a pedant, but I feel like the last example of deadweight loss (Christmas shopping) ignores the utility gained from sentimental gifts. I bought my girlfriend a $30 blanket on Valentine's Day. She likely didn't have the demand for it, but she cuddles with it all the time because it's a gift from me, creating an artificial demand that didn't exist before (I think!). Anyways, excellent video. 10/10 explanation.
@boxcarracer24 6 жыл бұрын
It's like I'm looking at Marshall from HIMYM teaching Macroeconomics. Nice video!
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Jacob you have saved me, thanks
@Kadenxe 6 жыл бұрын
The end was mad funny lol
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so clear! thx!
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I'm very happy to find your channel, before my final. Just disappointed that this video doesn't have you wearing any ACDC. Personal Questions: How many ACDC belts do you have? And is ACDC your favorite band? Keep up the good work, will let any classmate know about you.
@JacobAClifford 8 жыл бұрын
+Ryan Ernst It is under the sweater. I have 7 of them by the way
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Thank you !
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THANK YOU!
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I love your videos! But I want to slow them down lol because you zoom through them (which I appreciate tho because they are short and concise)
@MichelleCN_ 4 жыл бұрын
I understand a little clearer, please make another video with more details. Thank you.
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