Micro: Unit 1.6 -- Consumer Surplus, Producer Surplus, and Deadweight Loss
Hey Everyone! I'm Mr. Willis, and You Will Love Economics!
In this video, I will:
Define consumer surplus, producer surplus, the buyer's maximum price, and the seller's
minimum price
Identify the areas of consumer surplus and producer surplus on a graph
Explain how changes in market price and quantity will impact consumer surplus and
producer surplus in the market
Practice calculating consumer surplus using several sets of equilibrium prices
Define deadweight loss and explain how the presence of deadweight loss implies that a
market is allocatively inefficient
Identify the area of deadweight loss on a graph
Practice calculating deadweight loss using several sets of equilibrium prices
Demonstrate how government intervention will impact consumer surplus, producer
surplus, and deadweight loss in a market
Are you looking to teach this topic in your class? We have designed an activity to fit perfectly with this video:
https://www.teacherspayteachers.com/P...
Follow our store on Teachers Pay Teachers
https://www.teacherspayteachers.com/S...
Look for us on Social Media:
Instagram -- / youwillloveh. .
Facebook -- / youwilllovehi. .
Subscribe to our YouTube Channel:
/ youwillloveeconomics
Check out our website for teaching tips and insight from us- https://sites.google.com/view/you-wil...
Watch video Micro: Unit 1.6 -- Consumer Surplus, Producer Surplus, and Deadweight Loss online, duration hours minute second in high quality that is uploaded to the channel You Will Love Economics 20 October 2020. Share the link to the video on social media so that your subscribers and friends will also watch this video. This video clip has been viewed 89,775 times and liked it 2 thousand visitors.
