How to Calculate Consumer Surplus and Producer Surplus with a Price Ceiling

[@School_Circle]

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.

[@JULIU5x]

my professor is worthless i learned more on this video also

[@sarafatah]

Im curious, did you pass?

[@School_Circle]

@@sarafatah yes!

[@g.z.9920]

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.

[@mansii4u]

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!

[@craigmeyer6957]

My professor loves over-explaining everything and loves to hear himself talk, i learn so much more just from your videos alone🙏

[@rachaelanders9263]

thank you. my econ class is so confusing to me and this was so easy to understand

[@СиськаНежного]

How are you now?)

[@atea21]

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

[@dianaradevski6729]

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.

[@economicsfun]

You are very welcome, from Kansas City, USA. Happy to hear the videos are reaching students in Colombia.

[@EmmanuelBlimie]

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.

[@kryozumisia3323]

There's no point on attending class everyday. I learned more on watching videos. -_-

[@RS-gq5ws]

Kryozumi Sia ikr

[@vicdaslick]

Exactly and I go to USC 🤦🏽

[@Noodles8ify]

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.

[@clarisebrown2665]

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.

[@economicsfun]

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.

[@victoriamcdonough7464]

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!!!

[@zwqk3209]

how'd it go? =

[@shericehorton5639]

You are amazing!! I have truly been struggling and you made it make sense in no time! Saved me hours. Thank you.....

[@ethanhudson1151]

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!

[@CesarRodriguez-ws8hg]

Just what I needed! I have a test on Monday and you came in to save the day. Thank you!

[@MissShainaXoDuo]

30 minutes of your videos taught me more then two days of notes and studying cramming 😐 thank you!!!!

[@Goodchoones]

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

[@pholmes411]

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!

[@hemalimoodley6455]

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!

[@dayanaraiisa.7751]

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

[@matthewsmitchell18]

Man!!!! You are the COOLEST!!!! You made this very easy for me to learn this material!!!

[@devendraniraula2459]

Perfect description and calculation of Consumer Surplus and Producer Surplus in Price Ceiling

[@turnleft8645]

Your video is so good it makes me feel stupid. I literally spent 4 hours trying to get this right.

[@matthewrism]

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.

[@danielacalderon5622]

Thank you so much! Wayyy better explained than in my "elite" institution!

[@joeliscool28]

I agree, and wassup you cute

[@jacksonpettit1737]

@@joeliscool28 Joel making moves

[@hamidkhan1980]

Sir you are amazing. The way you have explained the surpluses is really easy. Thank you very much. God bless you.

[@PamsGoingOnRightNow]

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.

[@dIsTul2b3d69]

You are now officially my new favorite guy! You saved my ass!! Thank you sooooo much!!!

[@nubemuffin]

Thanks for this video! You do a really fantastic job at explaining this using your oral explanations combined with the animation.

[@DrGuha]

Excellent stuff. I am asking my online students to follow your material. Thanks and regards.

[@benjaminquesnel7358]

This was very useful! Great video representation. The pace of explanation is perfect. Thank you!

[@economicsfun]

Great to hear the animations are helping you learn microeconomics.

[@ZENOREM]

thank you so much . why can't my 65yr old Yale graduate professor explain it this way :( you are a life saver

[@carinaknight]

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

[@scott8031]

Thank you so much for clearing this up for me. Economics is my weakest subject.

[@ReemaSingh95]

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.

[@LadiesMan420]

So easy and clear to understand! Thank you for taking the time to make such videos. Helps us students so much! :D

[@economicsfun]

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.

[@oSiSxD]

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

[@blondie5350]

Thanks so much! This helped me a ton as I was trying to study the night before a test.

[@sallycoughlan1830]

Such a clear and thorough explanation- thanks very much.

[@matthewetheridge9738]

very well produced and explained video. Thanks

[@economicsfun]

+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.

[@ambersajjad9030]

I was having sooooooooo much confusion in this calculation now all is gone thanks to you!

[@economicsfun]

+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)

[@ReemaSingh95]

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

[@prahladhegde5935]

The best and shortest explanation

[@sokonimwango5315]

Very very helpful, wish I found this channel earlier.

[@YesiLearn]

Great Video! Simple yet in-depth!

[@rmartin747]

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 :)

[@Stampypeacefrog]

great explanation, very easy to understand. Thanks!

[@ErnestDraco-g6w]

Gifted with how to lecture 🎉🎉

[@uwaviator]

Thank you very much. I wish my macro teacher would explain it this succinctly!

[@laith2250]

Louise Jessie me too

[@Anyway.Iloveyou]

this helps so much AMAZING!!!!! u should be sponsored by youtube!!!!

[@Azizjon_1.4]

Thank you a lot it was very interesting and clear to understand the topic

[@benardkamtsaliraalidu314]

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 🙏

[@vasyakrim]

what programm do u use to build this such graphs?

[@Eilasmin1]

Thank you so much! This video makes my life much better :)

[@xxzzdatx]

Thanks for the great video!! it was really helpful and easy to understand!

[@prahladhegde5935]

I can't believe this video was uploaded before 10 yrs

[@travisramirez]

Phenomenal Video, great explanation! This Cleared up so much for me, thank you!!

[@diyagupta2117]

God bless youtube teachers

[@CoOkieLoVer1993]

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

[@jaimevelasquez4222]

This helped me to understand better the topic.

[@economicsfun]

Thanks. Good to hear, because I am always trying to improve my clarity of explanation.

[@NicatBehbudov]

You saved my life, thanks!

[@smithmaybell]

Thanks!! Finally, i understand...it's not as difficult as i thought!

[@sebasarizola5454]

this video did help a lot, thank you for this

[@son7689]

This really helped, I have a question though? How were you able to find the base of the triangle?

[@economicsfun]

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.

[@Ui567yuyh]

This was fantastic thank you so much!

[@economicsfun]

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.

[@Shinshoeman]

So i thoroughly learn a 2 days worth of lecture in 7 minutes on youtube... ok then :3

[@trazyliu]

The problem is I dont have the highest price of the demand curve on the y-axis so i cant find the area.

[@jaydee____7247]

Trazy Tracy same, how do you solve it if that’s the case?

[@montesguitar]

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.

[@kunalsharma5920]

My professor is soo useless. Thanx for the video. I learned more from this than from class.

[@economicsfun]

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.

[@DaniDavis312]

this was 150% helpful.. They are Helping me pass!

[@handy333]

can i ask ? how U found the number 12 in price. because that number is essential to calculate consumer surplus after price ceiling

[@amandy39]

+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.

[@handy333]

wow, thank you for Your kind replay That very helpful

[@dubistnichtmeinfreundkumpe3237]

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 :).

[@economicsfun]

@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.

[@MxCCDistance]

Amazing explanation, biggggggggggg help to understand the concept, but where did the total benefit before(54) come from?

[@economicsfun]

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?

[@economicsfun]

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.

[@economicsfun]

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)

[@economicsfun]

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.

[@greenfein786]

Did you make up the Price ceiling number along with QS and QD number? I am very confused

[@kalebjohnson7704]

Awesome video, great work

[@karlhans4116]

Oh my oh my. Don't know how to thank you 😍😍😍

[@shrimpinpat]

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!

[@theprocrastinator5786]

If i could give two likes i'd do it! Thank you for your help!

[@anniesimmons8451]

Thank you! I understand it better now!

[@economicsfun]

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.

[@economicsfun]

@xxzzdatx appreciate the positive feedback.

[@economicsfun]

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.

[@heymylove8617]

Can I ask ???

[@thomaswordi6902]

Nice to watch

[@economicsfun]

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.

[@zakiyautube]

perfect explanation. Thank you

[@tiamc2004]

THANK YO SOOOO MUCH!!!! OMG, You broke this down wonderfully.

[@economicsfun]

Great to hear! Hopefully you can watch more of the videos on the channel economicsfun and they will help you. Make sure you like MyBookSucks on FaceBook (see link in video description). This will help others whose teachers suck find the economics videos.

[@economicsfun]

@xxzzdatx thanks for the feedback. really appreciate it.

[@economicsfun]

You are very welcome! Make sure you like MyBookSucks on FaceBook (see link in video description). This will help others find the educational videos. Good luck on you test too! You can do it!!!!

[@economicsfun]

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.

[@EvanthaDivulwewa]

what if there is a searching activity is involved? will the consumer surplus shrink only to the triangle then?

[@arnav3253]

fantastic explanation