Chapter 7: Consumer Surplus, Producer Surplus and the Efficiency of Markets

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Chapter 7: Consumer Surplus, Producer Surplus and the Efficiency of Markets - Part 1

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DrAzevedoEcon

Күн бұрын

Пікірлер: 58

@terysantos2810 11 ай бұрын

so good when the professor actually rolls up the sleeves and writes, draws, etc. and doesn't rely solely on slides! but I like slides, too

@Ethiopia2025 Жыл бұрын

This professor is one of the most gifted teachers or lecturers I have never known in my whole school life. Specifically, he is the right instructor for students at the Higher education level (college & university)

@DrAzevedoEcon Жыл бұрын

Thank you! I appreciate the kind words!

@medium_of_money Жыл бұрын

Literally the Top G of the microeconomics teachers! Put on 2x, and understood everything.

@DrAzevedoEcon Жыл бұрын

Thanks!!

@jaymsf4503 3 жыл бұрын

I spent an entire day trying to figure out the areas that represent “new entrants” both in terms of CS and PS and I couldn’t get it until I watched this lecture. Thank you Professor.

@DrAzevedoEcon 3 жыл бұрын

You're welcome. Glad the videos helped!

@mohammedaloqaili786 5 ай бұрын

The same

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@DrAzevedoEcon Жыл бұрын

Thanks! Good luck with exams!!

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Hands down the most efficient and effective teacher and teaching style.

@nahidayari9195 3 жыл бұрын

Thank you so much for helping so many students out there struggling with Microeconomics including me :))

@DrAzevedoEcon 3 жыл бұрын

You are very welcome!

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@anahitarzumanyan27 2 жыл бұрын

Your videos are the only reason I understand microeconomics! Thank you for your help, Professor!! Love from Armenia

@user-ym2zu6im3s 5 ай бұрын

Thank you very much, finally I can understand the material used in class even though it wasn't actually taught by the lecturer. This is very clear❤

@nicolemeng6698 Жыл бұрын

That is how professors should teach students, thanks for the great teaching and videos👍👍👍

@DrAzevedoEcon Жыл бұрын

You're welcome....I'm glad the videos are helpful!

@BalnurYeraly 5 ай бұрын

It was so worthwhile, thanks !

@justkhushi2278 2 жыл бұрын

This video is extremely precise and easy to understand. The pace also caters to every student. Thank you a lot sir. This has been of great help.

@cutecrochet 9 ай бұрын

Looked up Jeremy bentham , wish I didn't , especially so late at night right before a test😅. All joke's aside, thank you. I did pretty well on my midterms thanks to you, hoping to do just as well in my endterms

@DrAzevedoEcon 9 ай бұрын

Ha! Pretty rough to look at. Good luck on your endterms!

@jeffreylaryea8120 Жыл бұрын

Pls thanks for everything...I really want to know the value of a good is equal..pls is it equal to the price you paid for the good or max you willing to pay minus price you actually pay for it..pls I hope to hear from you real soon😢

@DrAzevedoEcon Жыл бұрын

The value that you place on something would be the maximum you are willing to pay for it. For example, if you value something at $20, but the market price is $7, then you get $17 of consumer surplus. I hope that helps.

@alexl7464 3 ай бұрын

at 21:30 you say that the price gets driven up until there is only one bidder left which is the price P*, but at the value of 800 aren't there still two bidders that are willing to pay that price? I would have thought that B would have stopped at any value greater than 800 but would still bid at 800, I cant quite see where I'm getting mixed up.

@DrAzevedoEcon 3 ай бұрын

Just imagine the price being one bidding increment above $800. Just enough to eliminate the second highest bidder since their maximum is $800. The price would be just slightly higher than 800....I'm calling it 800 for convenience.

@clipadda321 5 ай бұрын

What is the reservation price in consumer and producer surplus curve

@shaizalsharma324 3 жыл бұрын

Appreciation from india.

@Mansi_Saluja 9 ай бұрын

Superbbb!!!!❤❤❤❤

@DrAzevedoEcon 9 ай бұрын

Glad to be able to help.

@nikhilshah8883 10 ай бұрын

how could the price be reduced in an auction?

@DrAzevedoEcon 10 ай бұрын

This is how a reverse auction works.

@user-lr8nw5kr7b 4 ай бұрын

Thank you professor

@DrAzevedoEcon 4 ай бұрын

You're welcome!

@NataliaMartinez-zm1ly 10 ай бұрын

amazing video!!! helps me a lot :) thank you for such a good explanation

@manuelrecio2405 2 жыл бұрын

I don´t understand why if B is willing to pay 800, A is the one that finishes buying at 800

@DrAzevedoEcon 2 жыл бұрын

Bidder A would actually pay a little bit more than $800....like $801. However, I just use $800 to make the discussion easier. Just suppose that B is willing to pay $799.

@nosaibaahmed3828 2 жыл бұрын

In which chapter did you talk about Utility? Another question.. In which chapter did you talk about Cost, Production, and Consumer Theory? Thank you in advance!