1hr 30 min with my professor tonight on PED and CS / PS / deadweight I had not a clue. 18 min and 2 videos from your channel and I feel like I can pass my test.
This is my 2nd video that I have watched tonight and I can honestly say that in the 20 minutes it has taken me to watch your videos a few times I understand these concepts x1,000 more than the entire chapter from the text book we were assigned. Thank you for taking the time to make these I'll be watching more of your videos as class moves along.
You are a savior! I was banging my head against the book for 2 days and I found your videos on consumer and producer surplus, this makes so much sense.. Thank you very much!
Appreciated! I won't mind donating $ to work like this. Simple is everything and you did that step, by step too well. That's what I call teaching with passion. You refreshed my forgotten maths by holding my hands step-by-step.
This was the exact example in my textbook and they obviously failed to explain how they got the answers for consumer/producer surplus. Thank you so much. It makes so much more sense now
I am brand new to economics & I undertook a second year economics elective for a change of pace from my science degree. Can say that your videos have made things to easy to understand and I dont feel like I am learning a new language anymore. So thank you.
I think this program your using really helps illustrate what's changing and the result of the change. Looking at dotted lines with no movement makes it hard to follow what's really going on because after new shifts either S1 to S2 or D1 to D2 the graph is covered with dotted lines. So far microeconomics is by far the most frustrating class I've taken because I'm good at math and the calculations are not hard so it's like what's wrong with me? I just get lost with these dam dots and things get murky on what is and what was. I gotta pull it together some how. These videos are by far the best illustrations- thanks man.
Thanks so much!! You explained this far better in 7 minutes than my professor did in 2 hours. You're helping a ton with my homework, which I really appreciate considering my professor decided to make literally 55% of the class due on the same day... We're in like the fourth week of school 😐 Thanks again!
This really helped me with my homework, I got both questions right! Thank you so much for posting this video, you do a much better job at explaining how to find CS and PS than my professor does! Cheers, MJ
Thank you so much!!! I have a Microeconomics test tomorrow and I was so worried about this topic! You do an excellent job of explaining the material and laying out all of the graphical information! Thank you, thank you, THANK YOU!!!
When it comes to PreCalc I pretty much know nothing. So when my professor handed me a packet, I was so lost. One of the problems was pretty much like this one and this helped me soooo much, especially when i know like nothing. Ty
I really like how you teach the material! With the help of your videos, I look forward to intermediate micro in the fall. I hated micro before I started watching your videos; I'm starting to like it now though. Thanks for great videos!
That is always my goal! I have always thought economics lends itself to animations and proper color usage. Make sure you like MyBookSucks on FaceBook (see link in video description). This will help others find the educational videos.
Thank you so much from Colombia, I have the book right in front of me, but compared to you it literally sucks. I already liked your page! this is awesome.
Thank you very much. You're great at explaining the process, I am definitely going to use your channel more often. Congrats you have more than earned my subscription. Keep it up man.
Wow! That is great to hear that you are starting to like economics. I have often thought the world would be a different place if people understood economics and statistics. Good luck in your studies too.
+Amber Sajjad That is great to hear and you are very welcome. If you get a chance like and share the videos (also like MyBookSucks FB page www.FaceBook.Com/partymorestudyless)
I wish I'd checked this video up before my test today I could've got two parts of the question right :(. I am defnitely coming back to these videos when I need help. Thanks +Economicsfun you made college economics simpler for me! lol
+Matthew Etheridge You are welcome, indeed. if you get a chance share and like the videos. Also like MyBookSucks FB www.FaceBook.Com/PartyMoreStudyLess. This will help others find the videos.
Thanks so much! your video is so great and clear, the diagrams r so well organised. I have a question, how do u calculate consumer surplus, producer surplus and deadweight loss if there is a black market for the product and there is a price ceiling
Producer surplus is the area above the supply curve and below the market price. There are producers that are willing to take less than the market price. They benefit from a market price that is above the price they are willing to take. This is producer surplus.
AWESOME everyone i know said that micro econ involved no math but ofcoasrse i get the new PROF. WHO IS ALL ABOUT THE MATH.... TO HARD TO PAY ATTENTION IN HIS CLASS... so basically i wish you were my professor thanks!
@tiamc2004 Thanks for the positive feedback. Do let me know how you do on your exams and if you need help on some other topics. I am always looking for ideas for new videos.
That is good to hear. Perhaps you can send me an email and let me know what additional videos you students need. btw, I plan on posting some videos on Monopoly Theory this weekend. good luck in your classes.
Thanks for the complement. Make sure to tell your fellow students and help ease their economic pain. Also you may enjoy our MyBookSucks FaceBook fan page (you can see the link in the video description)
You what you are telling me is "MyBookSucks!" Great to hear and thank you for the feedback, it is much appreciated. Make sure you like MyBookSucks on FaceBook (see link in video description). This will help other students find the educational videos.
Thank you! I do have an entire channel on statistics (statisticsfun) which is very similar to Econometrics. You can see links to all my channels on the Facebook Fan Page (see link in video description) or on the statisticsfun channel main page.
Great to hear! I have thought for some time now that economics lends itself to animation. Economics is not a hard concept it is just taught poorly and most text books suck (hence MyBookSucks). Btw, make sure you like MyBookSucks on FaceBook (see link in video description). This will help other students find the educational videos. Good luck in your classes.
+handy nugraha Take the quantity supplied at the price ceiling and substitute that value into the equation of the demand curve to find the price, which is 12.
As I see it, You can follow the process at 3:20. :) After the introducing of the binding price ceiling , the new Quantity Supplied is 4 , go upwards from this point until your "line" intersect the Demand function :).
For the this specific video, I just provided the Qs = 4 after the price ceiling. It could be derived using algebra. Let me know if you need more explanation or have another question.
I actually do have a facebook page -- you can see the link in the video description of this video. Some students post messages and comments. We post silly information for uni students as well.
Glad to be of service and good luck on your quiz -- you can do it! Make sure you like MyBookSucks on FaceBook (see link in video description). This will help others find the educational videos.
Thank you for your compliment. Make sure you like MyBookSucks on Facebook (see link in video description). This will help others find educational videos too.
First take a moment and watch the video on my channel "Economics Class Sucks and it is Boring -- Anyone Anyone" Thanks for the complement and it is great to hear that my videos are helping you. Let me know how you did this semester and if you have ideas for other topics. Good luck in your class!
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1hr 30 min with my professor tonight on PED and CS / PS / deadweight I had not a clue. 18 min and 2 videos from your channel and I feel like I can pass my test.
my professor is worthless i learned more on this video also
Im curious, did you pass?
@@sarafatah yes!
This is my 2nd video that I have watched tonight and I can honestly say that in the 20 minutes it has taken me to watch your videos a few times I understand these concepts x1,000 more than the entire chapter from the text book we were assigned. Thank you for taking the time to make these I'll be watching more of your videos as class moves along.
My professor loves over-explaining everything and loves to hear himself talk, i learn so much more just from your videos alone🙏
You are a savior! I was banging my head against the book for 2 days and I found your videos on consumer and producer surplus, this makes so much sense.. Thank you very much!
Appreciated! I won't mind donating $ to work like this. Simple is everything and you did that step, by step too well. That's what I call teaching with passion. You refreshed my forgotten maths by holding my hands step-by-step.
This was the exact example in my textbook and they obviously failed to explain how they got the answers for consumer/producer surplus. Thank you so much. It makes so much more sense now
I am brand new to economics & I undertook a second year economics elective for a change of pace from my science degree. Can say that your videos have made things to easy to understand and I dont feel like I am learning a new language anymore. So thank you.
thank you. my econ class is so confusing to me and this was so easy to understand
How are you now?)
You are very welcome, from Kansas City, USA. Happy to hear the videos are reaching students in Colombia.
I think this program your using really helps illustrate what's changing and the result of the change. Looking at dotted lines with no movement makes it hard to follow what's really going on because after new shifts either S1 to S2 or D1 to D2 the graph is covered with dotted lines.
So far microeconomics is by far the most frustrating class I've taken because I'm good at math and the calculations are not hard so it's like what's wrong with me? I just get lost with these dam dots and things get murky on what is and what was. I gotta pull it together some how.
These videos are by far the best illustrations- thanks man.
30 minutes of your videos taught me more then two days of notes and studying cramming 😐 thank you!!!!
Thanks so much!! You explained this far better in 7 minutes than my professor did in 2 hours. You're helping a ton with my homework, which I really appreciate considering my professor decided to make literally 55% of the class due on the same day... We're in like the fourth week of school 😐 Thanks again!
Thank you so much!! Excellent video with simple explanations and clear graphics. I'm studying for my intermediate micro exam, and you are a LIFESAVER.
There's no point on attending class everyday. I learned more on watching videos. -_-
Kryozumi Sia ikr
Exactly and I go to USC 🤦🏽
This really helped me with my homework, I got both questions right! Thank you so much for posting this video, you do a much better job at explaining how to find CS and PS than my professor does!
Cheers,
MJ
Thank you so much!!! I have a Microeconomics test tomorrow and I was so worried about this topic! You do an excellent job of explaining the material and laying out all of the graphical information! Thank you, thank you, THANK YOU!!!
how'd it go?
=
Perfect description and calculation of Consumer Surplus and Producer Surplus in Price Ceiling
Thank you so much! i tried my best learning from a textbook for two days and ended up learning the same material from you in 7 minutes!
THANK YOU SO MUCH !!!!!! You just made my night less stressfull , I have an exam tmr and I did not understand this at all.. Thank you
Just what I needed! I have a test on Monday and you came in to save the day. Thank you!
When it comes to PreCalc I pretty much know nothing. So when my professor handed me a packet, I was so lost. One of the problems was pretty much like this one and this helped me soooo much, especially when i know like nothing. Ty
Sir you are amazing. The way you have explained the surpluses is really easy. Thank you very much. God bless you.
I really like how you teach the material! With the help of your videos, I look forward to intermediate micro in the fall. I hated micro before I started watching your videos; I'm starting to like it now though. Thanks for great videos!
That is always my goal! I have always thought economics lends itself to animations and proper color usage.
Make sure you like MyBookSucks on FaceBook (see link in video description). This will help others find the educational videos.
You are amazing!! I have truly been struggling and you made it make sense in no time! Saved me hours. Thank you.....
Your video is so good it makes me feel stupid. I literally spent 4 hours trying to get this right.
Excellent stuff. I am asking my online students to follow your material. Thanks and regards.
Great to hear the animations are helping you learn microeconomics.
Man!!!! You are the COOLEST!!!! You made this very easy for me to learn this material!!!
Thank you so much from Colombia, I have the book right in front of me, but compared to you it literally sucks. I already liked your page! this is awesome.
Thanks for this video! You do a really fantastic job at explaining this using your oral explanations combined with the animation.
thank you so much . why can't my 65yr old Yale graduate professor explain it this way :( you are a life saver
Thank you so much for clearing this up for me. Economics is my weakest subject.
Mine too. For some reason my professor makes college economics look harder than it actually is, this was class was so easy in high school.
You are now officially my new favorite guy! You saved my ass!! Thank you sooooo much!!!
This was very useful! Great video representation. The pace of explanation is perfect. Thank you!
Thank you so much!
Wayyy better explained than in my "elite" institution!
I agree, and wassup you cute
@@joeliscool28 Joel making moves
Such a clear and thorough explanation- thanks very much.
Thanks so much! This helped me a ton as I was trying to study the night before a test.
The best and shortest explanation
Thank you very much. You're great at explaining the process, I am definitely going to use your channel more often. Congrats you have more than earned my subscription. Keep it up man.
Wow! That is great to hear that you are starting to like economics. I have often thought the world would be a different place if people understood economics and statistics. Good luck in your studies too.
Thank you a lot, even though I study economics in german, I found this video the best, I understood everything, so simple and so useful
Great Video! Simple yet in-depth!
So easy and clear to understand! Thank you for taking the time to make such videos. Helps us students so much! :D
Thanks. Good to hear, because I am always trying to improve my clarity of explanation.
Thank you so much for explaining this to me in a way I understand. I have a Micro mid-term on Tuesday and this helped me :)
I was having sooooooooo much confusion in this calculation now all is gone thanks to you!
+Amber Sajjad That is great to hear and you are very welcome. If you get a chance like and share the videos (also like MyBookSucks FB page www.FaceBook.Com/partymorestudyless)
Very very helpful, wish I found this channel earlier.
I wish I'd checked this video up before my test today I could've got two parts of the question right :(. I am defnitely coming back to these videos when I need help. Thanks +Economicsfun you made college economics simpler for me! lol
Gifted with how to lecture 🎉🎉
very well produced and explained video. Thanks
+Matthew Etheridge You are welcome, indeed. if you get a chance share and like the videos. Also like MyBookSucks FB www.FaceBook.Com/PartyMoreStudyLess. This will help others find the videos.
what programm do u use to build this such graphs?
God bless youtube teachers
great explanation, very easy to understand. Thanks!
Thanks so much! your video is so great and clear, the diagrams r so well organised.
I have a question, how do u calculate consumer surplus, producer surplus and deadweight loss if there is a black market for the product and there is a price ceiling
this helps so much AMAZING!!!!! u should be sponsored by youtube!!!!
I can't believe this video was uploaded before 10 yrs
Producer surplus is the area above the supply curve and below the market price. There are producers that are willing to take less than the market price. They benefit from a market price that is above the price they are willing to take. This is producer surplus.
Thank you a lot it was very interesting and clear to understand the topic
It was hard for me to calculate consumer and producer surplus even the deadweight loss but I found it simple after watching this video...thank you 🙏
Thank you very much. I wish my macro teacher would explain it this succinctly!
Louise Jessie me too
Thanks!! Finally, i understand...it's not as difficult as i thought!
This helped me to understand better the topic.
Thanks for the great video!! it was really helpful and easy to understand!
This really helped, I have a question though? How were you able to find the base of the triangle?
Nice to watch
Thank you so much! This video makes my life much better :)
You saved my life, thanks!
AWESOME everyone i know said that micro econ involved no math but ofcoasrse i get the new PROF. WHO IS ALL ABOUT THE MATH.... TO HARD TO PAY ATTENTION IN HIS CLASS... so basically i wish you were my professor thanks!
@tiamc2004 Thanks for the positive feedback. Do let me know how you do on your exams and if you need help on some other topics. I am always looking for ideas for new videos.
this video did help a lot, thank you for this
This was fantastic thank you so much!
Phenomenal Video, great explanation! This Cleared up so much for me, thank you!!
Amazing explanation, biggggggggggg help to understand the concept, but where did the total benefit before(54) come from?
That is the total benefit which is consumer surplus plus producer surplus. It is the blue and red triangles (about 2:25 in the video) Make sense?
Awesome video, great work
Oh my oh my. Don't know how to thank you 😍😍😍
That is good to hear. Perhaps you can send me an email and let me know what additional videos you students need.
btw, I plan on posting some videos on Monopoly Theory this weekend.
good luck in your classes.
perfect explanation. Thank you
fantastic explanation
Thank you! I understand it better now!
Did you make up the Price ceiling number along with QS and QD number? I am very confused
this was 150% helpful.. They are Helping me pass!
Thanks for the complement. Make sure to tell your fellow students and help ease their economic pain.
Also you may enjoy our MyBookSucks FaceBook fan page (you can see the link in the video description)
You what you are telling me is "MyBookSucks!" Great to hear and thank you for the feedback, it is much appreciated.
Make sure you like MyBookSucks on FaceBook (see link in video description). This will help other students find the educational videos.
Thank you! I do have an entire channel on statistics (statisticsfun) which is very similar to Econometrics. You can see links to all my channels on the Facebook Fan Page (see link in video description) or on the statisticsfun channel main page.
Great to hear! I have thought for some time now that economics lends itself to animation. Economics is not a hard concept it is just taught poorly and most text books suck (hence MyBookSucks).
Btw, make sure you like MyBookSucks on FaceBook (see link in video description). This will help other students find the educational videos.
Good luck in your classes.
THANK YO SOOOO MUCH!!!! OMG, You broke this down wonderfully.
can i ask ? how U found the number 12 in price. because that number is essential to calculate consumer surplus after price ceiling
+handy nugraha Take the quantity supplied at the price ceiling and substitute that value into the equation of the demand curve to find the price, which is 12.
wow, thank you for Your kind replay
That very helpful
As I see it, You can follow the process at 3:20. :)
After the introducing of the binding price ceiling , the new Quantity Supplied is 4 , go upwards from this point until your "line" intersect the Demand function :).
My professor is soo useless. Thanx for the video. I learned more from this than from class.
For the this specific video, I just provided the Qs = 4 after the price ceiling. It could be derived using algebra. Let me know if you need more explanation or have another question.
Can I ask ???
The problem is I dont have the highest price of the demand curve on the y-axis so i cant find the area.
Trazy Tracy same, how do you solve it if that’s the case?
If anyone sees this in the future wondering the same, you have to substitute 0 for your Q in the demanded inverse function to get the max price.
So i thoroughly learn a 2 days worth of lecture in 7 minutes on youtube... ok then :3
I actually do have a facebook page -- you can see the link in the video description of this video. Some students post messages and comments. We post silly information for uni students as well.
Glad to be of service and good luck on your quiz -- you can do it!
Make sure you like MyBookSucks on FaceBook (see link in video description). This will help others find the educational videos.
it does a lot of help,thanks!
@xxzzdatx appreciate the positive feedback.
Thank you for your compliment. Make sure you like MyBookSucks on Facebook (see link in video description). This will help others find educational videos too.
@xxzzdatx thanks for the feedback. really appreciate it.
First take a moment and watch the video on my channel "Economics Class Sucks and it is Boring -- Anyone Anyone"
Thanks for the complement and it is great to hear that my videos are helping you. Let me know how you did this semester and if you have ideas for other topics.
Good luck in your class!
Awesome video!
If i could give two likes i'd do it! Thank you for your help!