You are one of the greatest human beings ever. May all of your dreams and wishes come true. You are a champion. I love you.

This was exponentially helpful man, thanks for doing what you do.

Thank you! You explained this so well and I finally get it! Even after watching other videos and reading my text book did not click with me

Great to hear and appreciate the feedback. Make sure you like MyBookSucks on FaceBook (see link in video description). This will help others find the educational videos.

You are an amazing teacher..i have subscribed to both of your channels....thank you so much..you make everything extremely simple..!!!!

@shinenot Wow! Thanks appreciate the positive comments.

I have thought for a long time that animations can help students learn economics. I appreciate hearing the videos are helping you.

What an awesome compliment very happy you loved the video and love me to!

Excellent explanation .1st time commenting on any video.

Youre a fabulous teacher... honestly

one of best economics teacher.... great vd

@katkatmateo thanks for your comments. I use a variety of different tools including Illustrator, Photoshop, Flash, Motion and Final Cut. Then I stick it all together. Unfortunately there is not one single too (not that I found at least) to build good animations.

You sir are a life savior.

keep making videos. so easy to understand. You sir - have a very pleasant teaching voice.

great question! If a company charges too high of price, then they will sell no quantity. In practice the demand curve will start at 1 unit not at zero. I think that textbooks, professors and me, start a zero just make a nice straight line. Hope that helps, if not just let me know and I will give the answer another shot.

Great video....Easy on the eyes too!!

Thanks a lot, your'e helping me with IB Econ HL revision, Thanks a lot!

You are very welcome. I hope it helps you pass your exams and learn a bit about economics.

your video is just perfect!!

awsmmmmmmmmmmmmm....thanks so to the point nth irrelevant. help a lot for my upcoming exam.

@economicsfun great video, you couldn't make it more logical, or easier to understand. And I'm not even an economist.

best video ive ever seen.

Thank you for doing what my prof can't

Hi there. May I know what software you used for this particular video? Your effects are so awesome! =D And I learned a lot from your videos. You explain everything clearly. Thanks!

These videos are very helpful, can I ask what you use in order to make these videos, is it powerpoint?

For sure you desrve much respect

thank you! so helpful

Thanks, really helpful

You are very welcome! Make sure you like MyBookSucks FaceBook (see description for link). We post some fun college humor stuff and links to other educational channels. Good luck in your classes.

thanks man i can see the picture clearly now

good explanation !

Awesome explanation

Great to hear my video is helping you. Make sure you like MyBookSucks on Facebook (see link in video description), this will help others find the videos too!

Thanks a million ❤

Well Explained .... :)

perfect

Great question. Yes you are right the price the government pays is the guaranteed price (at Qd & Pfloor). What I am trying to show is the brown triangle is additional surplus that neither the consumer or producer had before. The quantity the government buys is Qs - Qd. The price the government pays is the new price floor (Pf). The government does not get any "surplus" and it is all transferred to the producer. Let me know if I did not answer your question!

Extremely well-demostrated!!!!! Great Job!!1

Very clear.

This is excellent . What tool have you used to demonstrate this ? Also , happens when the supply curve is inelastic ?

Thanks for your comment but what happens to CS surplus and PS surplus in a case where demand is elastic but supply is not ? How do you calculate the total surplus then ?

Hi! awesome video. I have a doubt though, when you're explaining the price floor with government guarantee; theres a part of the consumer surplus which goes to the producer, and then a part of producer surplus 'generated' by our tax money. But doesn't the price the government pay start at quantity demanded? In your explanation demand curve-Qd and Qe triangle remains unpaid for..! Shouldn't the surplus the government pays for include that small triangle as well? Thanks!

thanks!

Great to hear good luck in your classes too. Make sure you like MyBookSucks on FaceBook (see link in video description). This will help others find the educational videos.

3:40 OMG best part :)

Awesome. great. Sir, could you please explain "if the demand curve touches y-axis, meaning zero quantity at some price" How does that make sense? I mean a consumer will never pay for "nothing'. Help me please, The book i have failed to satisfy me

Great to Hear! Make sure you like MyBookSucks on FaceBook (see link in video description). This you will help me save the lives of other students :)

Please say sir is consumer surplus would be a negative???

nice explanation keep it up

@economicsfun Okay. Thank you. =)

Why does the transfer occur

The effect when you erase things is like it is being thanos snapped out of reality.

cosign!

Suppose the market demand and market supply functions for a product are given by: Demand: P= 70- -2Q^2 Supply: P= Q^2-5. a) Find the equilibrium price and quantity (take the greater value of Q if you get two values in your solution) b) Find consumers' surplus (CS) and producers' surplus (PS) at the equilibrium price level c) Find the change in CS and PS if price of the product is set at P 52, by local governmental authority

idk if I'm color blind or...

Why does the supply curve go up? Almost every high-supply product is low in price: Apples, toilet paper, pencils, are all high-supply low-price. Cars, houses, computers, are all low-supply high-price. Makes no fuckin sense