Everything you need to know about EXTERNALITIES- Micro Unit 6

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Жыл бұрын

Your teacher of professors is going to ask you to draw externalities, including the socially optimal quantity and deadweight loss. The might even require you to draw both types: a consumption externality and a production externality.
Here are three rules that will help you.
1. Consumption externalities always have two benefit curves (MSB and MPB). Production externalities have two cost curves (MSC and MPC).
2. Negative externalities always produce too much and positive externalities always produce too little.
3. Deadweight loss points left for negative externalities and right for positive externalities.
Need more help? Check out my Ultimate Review Packet:
www.ultimatereviewpacket.com/...

Пікірлер: 50

@zivaisinemani294 2 ай бұрын

This man is saving my ECON GRADE

@thefub101 Жыл бұрын

Dude, I’m 46 and just finished my last unit for my degree in business, you made econ the most fun of all 24 units!!! Thanks Mr. Clifford

@laxyakumar9440 9 ай бұрын

word brother chase that bag

@natsu_7046 12 күн бұрын

One year later, are you working in econ/finance now?

@falonneelimo6398 2 күн бұрын

I've been going over my teachers' lectures for weeks and it only took me 6 minutes to understand this!...you're a godsend! I now have hope of keeping my GPA!!!!

@padmakshkhandelwal1832 Жыл бұрын

Thank you Mr Clifford, I just took a mock yesterday with this concept at work and I had ended up with a negative production graph instead of negative consumption one. I am studying for the AP solely through the Ultimate Review Packet and your videos. It's simply amazing that I can get 5 in the mocks with ease, the content is so efficiently and effectively put together. Thank you for this.

@heatherleon3331 Жыл бұрын

Once again your ability to explain key concepts in an easy-to-understand -but-still-economically-sound-way is so helpful for my teaching!!

@ArcLife2023 Жыл бұрын

I completed my Micro +Macro Economics course.... your videos were the bridge to my Success..Thank you and keep it up

@royg2317 Жыл бұрын

It makes Unit 6 even cleaer! Thanks Mr. Clifford!

@JacobAClifford Жыл бұрын

I'm glad I could help

@sagar9137 Жыл бұрын

Thank you man. Just wrote my exam. Because of you, I was able to perform well❤️

@w00nhakie 8 ай бұрын

my teacher had been explaining this to me for a week and i never got his words but dude thanks a lot life saviour fr

@eshakhan839 3 ай бұрын

I always got stuck on these graphs. This just made it super easy THANK YOU SO MUCH

@amoghpandey6842 2 ай бұрын

My friend rocked the FRQ section because of this video. You are GOAT Clifford!

@user-qz3cr4en2u 10 ай бұрын

Economic was very hard for me after I start following your tips it has become easier thank you so much Mr Clifford

@lauramariavanessa5123 Ай бұрын

Greeeat video, thank you so so much! I came here fearing the worse because I'm not really into Economics but had to attend it for my master's. I'm leaving super happy that I really understood the logic behind the graphs!

@ClumpypooCP Жыл бұрын

Mr. Clifford I love the econ in real life videos. Please do more!

@RedFeather11 Жыл бұрын

Thanks a lot Sir. I love Economics thanks to you and amazing teachers like you. 💐💐

@abdullahassamialnoor2779 7 ай бұрын

thank you Mr. Clifford. You're the reason im not hopefully not failing micro

@s.sadka4 5 ай бұрын

first person I've seen to explain this properly

@miraclekdtrdh6568 Жыл бұрын

thank you Mr Clifford!!!

@iliketacos6067 5 ай бұрын

Thank You Greatly

@drwhat-dm6kr Жыл бұрын

Thanks mr.clifford❤

@DreamStudio.0 7 ай бұрын

My final is next Fri and I am finding this very helpful thank you.

@yangpatrick364 Жыл бұрын

great video!

@hol461 Жыл бұрын

great lecture thanks !

@divakapoor5164 7 ай бұрын

thank you for this video!!

@musashahzad563 7 ай бұрын

love you great video

@M_Sefat Жыл бұрын

Man youre amazing.

@manzurekhoda7013 Жыл бұрын

Very helpful video

@matuidiemmanuella5157 Ай бұрын

God bless you

@fierybl4de400 Жыл бұрын

GOAT econs teacher

@aaravjagtiani2899 Жыл бұрын

MY GOAT

@malikaashetova797 7 ай бұрын

god bless you

@gauraansharora Жыл бұрын

Hello Mr.Clifford! Are the new study guides for micro now on the ultimate review pack?

@antisocialbarbie1587 Жыл бұрын

Thank you got my Alevels soon can you please do a video on supply side and demand side policies for macro 😢 asap

@ruoyuxu6918 4 ай бұрын

I love you:)

@mayela6513 9 ай бұрын

you're literally the best!

@mimianalystmind6014 11 күн бұрын

For those who don't know. Here is the definition of externality: is a cost or benefit of an economic activity experienced by an unrelated third party. The external cost or benefit is not reflected in the final cost or benefit of the good or service. The economist views it as inefficient for the market, and the issue is serious enough to lead it to failure. The impact of the externality can be positive (production and consumption) or negative (production and consumption).

@sportschannel9892 Жыл бұрын

Hey Mr Clifford How have you been? I hope all is well.

@Sunny-vg7mj Ай бұрын

mark cuban

@davidclifford6125 Жыл бұрын

I don't remember this when I took economics.

@MusicalInquisit Жыл бұрын

AP Micro changed their standards. This stuff is all stuff I have never seen. Then again, I only took macro, but still, this was something I’ve never seen when I read my textbook.