Thanks for watching, I hope you found it useful! As always, if you have questions please feel free to add them below and I will do my best to address it. I really do appreciate the "thank you!"s, LIKES, and subscribes. It motivates me to keep making new content for you all. Good luck with classes and exams!!!
My goodness thank you for this. I have a eco class every morning from 10:45AM-12PM on zoom where attendance isn't taken and my professor just records the class and posts it online. But I don't watch because I'm just too lazy. Your videos have been really helpful for a lazy dude like me.
0:561:42: Your explanation regarding the tax situation （: If MC’ is our true marginal cost, then deadweight loss exists, because we want to be here (pointing at your new equilibrium) instead of here (pointing at your old equilibrium)）sounds a bit misleading to me. Although you were right that taxation generates a deadweight loss, your description of the desired equilibrium is incorrect. Tax causes the supply curve to shift toward ( S’=MC’) and thus creates your new equilibrium. Your new equilibrium is where “we are” after taxation, whereas the desired equilibrium point (the allocatively efficient point) is the old one. In other words, the new equilibrium price and quantity are inefficient. (note that this differs from the process of solving the impact of externality on market outcomes.) 3:22: No need for correction. Price after tax: 6; price before tax: 4.
4:29 You’re wrong at this part.Because we’re doing calculation on our triangle. So that’s why our base is 2 and height is 1. But still it’s a really good video though Thnks :))
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might be a stupid question, but isn't the area of a triangle 1/2*base*perpendicular height meaning that the triangle should include a 90' angle? or does this not apply to calculating deadweight loss?
The equation applies to all triangles. You may be able to demonstrate this to yourself by drawing a rectangle around any triangle and then filling in the void that is left in the rectangle (eg. area not covered by the triangle) to see that it fills exactly half of the newly drawn rectangle. For example: jeremykun.files.wordpress.com/2011/06/triangle1.png?w=596&h=302
How do you know the third point is exactly at 4$?... Like I have these datas, what is the DWL: Qd=1200-2p, Qs=p-300, what is the DWL after 15 unit of tax? P=500, Q=200, P*=505, Q*=190, but there is no third P to be able to calculate the triangle's size...
To solve this you need to add the tax to the appropriate function. It would be easiest to solve for the inverse demand (or supply) function and then add the tax to the function. EG. P=600-1/2Qd-15 (because the tax is fifteen and they are willing to pay 15 less for any given Qd). Alternatively, you can add the tax to the Qd function by adding it within the price: eg. Qd=1200-2(p+15).
Deadweight loss is the loss in consumer and producer surplus. So how is deadweight loss represented in right side for negative externalities? There's no consumer or producer surplus
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Thanks for watching, I hope you found it useful! As always, if you have questions please feel free to add them below and I will do my best to address it.
I really do appreciate the "thank you!"s, LIKES, and subscribes. It motivates me to keep making new content for you all.
Good luck with classes and exams!!!
god these videos from almost a decade ago are so helpful since in-person classes are like not a thing
97 thousand people have shitty econ professors, and I think you helped all of us. :D
i'm still confused.
my head feels like exploding :)
I have SO much trouble in my economics class and couldn't find the loss because I didn't know you had to subtract the base. Thanks so much!
Awesome, glad it helped!
you are helping me not fail my econ midterm... bless you !
Really great explanation. My midterms are coming up and I will be back here digging through videos for my micro class.
wow explanation, after watching this video my concepts are totally clear about dead weight loss.
Thanks for saving me the gas of driving to campus and waiting in line to see my professor (being that its midterms). much appreciated
My goodness thank you for this. I have a eco class every morning from 10:45AM-12PM on zoom where attendance isn't taken and my professor just records the class and posts it online. But I don't watch because I'm just too lazy. Your videos have been really helpful for a lazy dude like me.
Your videos are the easiest to understand thanks!
I don't know who you are but I love you for doing this.
THANK YOU!!!
I got my homework at 100% thanks to these videos.
0:56 1:42:
Your explanation regarding the tax situation （: If MC’ is our true marginal cost, then deadweight loss exists, because we want to be here (pointing at your new equilibrium) instead of here (pointing at your old equilibrium)）sounds a bit misleading to me.
Although you were right that taxation generates a deadweight loss, your description of the desired equilibrium is incorrect. Tax causes the supply curve to shift toward ( S’=MC’) and thus creates your new equilibrium. Your new equilibrium is where “we are” after taxation, whereas the desired equilibrium point (the allocatively efficient point) is the old one. In other words, the new equilibrium price and quantity are inefficient. (note that this differs from the process of solving the impact of externality on market outcomes.)
3:22: No need for correction. Price after tax: 6; price before tax: 4.
grateful for this video. thank you for taking your time out to help students!
This helped me a ton! Thanks for posting!!
Thank you so much for this wonderful video! It really helped me
4:29 You’re wrong at this part.Because we’re doing calculation on our triangle. So that’s why our base is 2 and height is 1.
But still it’s a really good video though Thnks :))
You're right
This tells you that no one is perfect
great help, thank you!
Great video, helped me finish my assignment!
my teacher needa take lessons from u becuase he sucks at explaining lmao you made everything clear thx
Thanks a lot !! It was really helpful.
Really like your videos, thank you and greetings from Belgium!
*Next Level Diet* really took my diet to the next level. Not only diet, but life. I can see improvements in many aspects of my life. Guys, you rock! #*Next Level Diet*
I don't understand how each triangle was chosen. Like why was one of them the left, and the other, the right?
Jason Quach when taking bout divergence and per unit subsidy, the deadweight loss is on the right
This helped me a lot! Thank you
Awesome to hear that, I'm glad it helped!
& where is consumer surplus and producer surplus at 4:25 @Free Econ Help
Thanks so much! This was great and saved me a lot of time. Keep up the great videos and God bless you and to all!
Omg thanks so much, it was better explained that my uni teacher.
might be a stupid question, but isn't the area of a triangle 1/2*base*perpendicular height meaning that the triangle should include a 90' angle? or does this not apply to calculating deadweight loss?
The equation applies to all triangles.
You may be able to demonstrate this to yourself by drawing a rectangle around any triangle and then filling in the void that is left in the rectangle (eg. area not covered by the triangle) to see that it fills exactly half of the newly drawn rectangle. For example: jeremykun.files.wordpress.com/2011/06/triangle1.png?w=596&h=302
Hi can you make a video on how to calculate isoprofit
Very helpful, Thank you.
OMG Thank you so much!!! Helped a lot!
Thank you ❤❤🌹🌹
How do you know the third point is exactly at 4$?... Like I have these datas, what is the DWL: Qd=1200-2p, Qs=p-300, what is the DWL after 15 unit of tax? P=500, Q=200, P*=505, Q*=190, but there is no third P to be able to calculate the triangle's size...
To solve this you need to add the tax to the appropriate function. It would be easiest to solve for the inverse demand (or supply) function and then add the tax to the function. EG. P=600-1/2Qd-15 (because the tax is fifteen and they are willing to pay 15 less for any given Qd). Alternatively, you can add the tax to the Qd function by adding it within the price: eg. Qd=1200-2(p+15).
thanks. can you do one with calculus explanation.
thank you!!!! It helps me a lot.
thank you so much
Deadweight loss is the loss in consumer and producer surplus. So how is deadweight loss represented in right side for negative externalities? There's no consumer or producer surplus
You are my hero
How did the 7 came up sir explain it quickly
thank you very much ro you save me
For people who wants to jump directly to the calculation click 4:00
How do you know that the tax is split by supplier and buyer?
Thankyou Sir!
THANKS
Glad it helped!
thanks free econ help guy
upwards shift?! 0:52
I know... shame on me
How to calculate welfare?
isn't it the base that is 2 and the height that is one ? i mean it's the same result but it can be very bad to teach someone this.
In this example, the height is 2 and the base is one (6-4) and (5-4) respectively, it's possible you learned it differently some where else.
+Free Econ Help why isn't the base 2units (6-4) and the height 1unit (5-4)?
+Stefan CZ
High on potenus. I think it looks alot nicer if you use the hypotenuse as the base.
is your throat ok now ? :D how could you make those grrg sound in words like Cost, coggrrrrggrrst , and five is like figrrggrrrve :D
Ha.... darn allergies
Love you
thanks a lot.;...
2022 😏😏😏👍🏽👍🏽👍🏽👍🏽👍🏽
Make videos on micro economics which mathematically proved
Honestly, I never had problems with my weight. I could eat whatever I wanted and still maintain normal weight, but a lot of junk food really affected my health. Diet plan from *Next Level Diet* contains delicious and nutritionally rich foods your body, brain and heart will love. It's definitely worth
My dad lost 100lbs. I visited *Next Level Diet* and followed their steps. I only selected food he likes and they provided me with FULL PACKET in seconds. I got 30 days DIET MEAL PLAN, TRAINING PLAN, FITNESS TIPS, and HEALTHY RECIPES as well.
Its still shock me just how a lot of people have no clue about Okibetonic Secrets despite the fact that a lot of people using it. Thanks to my pal who told me about this. I have lost crazy amounts of fat.
Did not like this explanation. Prefer a more mathematical and logical approach.
Sorry you didn't like it, I hope you find what you need!
Has anyone tried Okibetonic Secrets? (just google it) I've heard several awesome things about this popular fat burn methods.
get to the point! so slow
What is Fenoboci Diet Plan and how does it work? I hear many individuals lost their fat with this popular lose weight diet plan.
Talk faster
For the love of god, put a pop filter on your microphone. The very least you could do is filter out unwanted noise in a program like Audacity.
Thanks bro