yo man idk how I stumbled upon this playlist while thrying to study market failure, and I dont understand why this has such less attention. This stuff is soo helpful! you make the content a lot easier to understand than the textbooks
I feel the same you are an amazing teacher and to think you get so little recognition for your hard work... Thank you for everything you've done for us, keep it up :)
Having my IB Econ tomorrow. Just passing by to thank u for all the videos, they r the only reason im passing these exams. Just another common W from The Econ Guru. GG mate
You are an amazing teacher, I am currently doing really good in economics because of your videos. Thank you, soo much for your hard effort and to support your channel I have even recommended this channel to my friends
Your videos are awesome and really helpful, but while going through this video I felt there was a mistake in one of your diagrams. Diagram at time 14.26 in negative externality of consumption. The diagram, says MSC shifts up and the new curve is MCS+tax. But in my textbook it says the its the MPC that shift up give the new line MPC+tax, as when that line and MPB curve intersect, it gives Q demanded same as the optimum Q for allocative market...... There could have been a mistake so just please see it and correct and if not then please explain me the point a little more clearly. Thank you, and again your videos are really helpful.
neel patel the diagram you’re looking at combines solution one and solution two, solution one of using indirect tax shifts MSC curve to the left to MSC plus tax, solution two of using negative advertising shifts MPB until it intersects MSB... I combined both solutions in one diagram, sorry if it confused you.
Yujin Wang when MPC shifts to the ‘left’ as a result of the indirect tax, it’s also a somewhat upward shift as it closes the vertical gap between MPC and MSC... the idea behind shifting ‘upward’ is that the tax internalizes the external cost imposed on society... so yes it’s a ‘leftward’ shift but because it internalizes the external cost and raises the price, it’s also an ‘upward’ shift :) Please let me know if you have any more questions!
yo man idk how I stumbled upon this playlist while thrying to study market failure, and I dont understand why this has such less attention. This stuff is soo helpful! you make the content a lot easier to understand than the textbooks
maxiboy82 thank you very much for the feedback! Glad you find them useful :)
I feel the same you are an amazing teacher and to think you get so little recognition for your hard work... Thank you for everything you've done for us, keep it up :)
Angelo Gunther thank you very much for the feedback! I appreciate it!
Having my IB Econ tomorrow. Just passing by to thank u for all the videos, they r the only reason im passing these exams. Just another common W from The Econ Guru. GG mate
Taught me better than my teacher in school. Well done sire
You are an amazing teacher, I am currently doing really good in economics because of your videos.
Thank you, soo much for your hard effort and to support your channel I have even recommended this channel to my friends
Thank you so much man I have a test coming up in 3 days and this just helped so so so much!
Your videos are awesome and really helpful, but while going through this video I felt there was a mistake in one of your diagrams. Diagram at time 14.26 in negative externality of consumption. The diagram, says MSC shifts up and the new curve is MCS+tax. But in my textbook it says the its the MPC that shift up give the new line MPC+tax, as when that line and MPB curve intersect, it gives Q demanded same as the optimum Q for allocative market...... There could have been a mistake so just please see it and correct and if not then please explain me the point a little more clearly. Thank you, and again your videos are really helpful.
neel patel the diagram you’re looking at combines solution one and solution two, solution one of using indirect tax shifts MSC curve to the left to MSC plus tax, solution two of using negative advertising shifts MPB until it intersects MSB... I combined both solutions in one diagram, sorry if it confused you.
thanks this was really helpful
Thanks a lot for your videos!!!
Just a question here: I think when the shift happens, it only shifts left or right but not up or down.
Yujin Wang when MPC shifts to the ‘left’ as a result of the indirect tax, it’s also a somewhat upward shift as it closes the vertical gap between MPC and MSC... the idea behind shifting ‘upward’ is that the tax internalizes the external cost imposed on society... so yes it’s a ‘leftward’ shift but because it internalizes the external cost and raises the price, it’s also an ‘upward’ shift :)
Please let me know if you have any more questions!
Thanks for your reply. Now I get it.
According to the math if u shift straight line to the left it also shifts up. U can try do that even on your paper