9. Supply and Demand & Consumer/Producer Surplus
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- Опубліковано 4 вер 2024
- MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
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This lecture covers supply and demand curves, consumer surplus, and producer surplus.
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The only Prof. who could use f-word in the class and get away with stellar teaching skills!! Salute!
0:32 "What Do They Know? Do They Know Things? Let's Find Out!"
Jesus, it’s sad nobody got this reference!
what reference
14:07 Thank me later. This professor is fucking awesome.
Yeah and knowing that he's a prominent health economist makes it even more enjoyable.
Thank you 🤣
This Professor is so good
sorry to be offtopic but does anybody know a tool to log back into an Instagram account??
I was dumb lost the password. I would love any tips you can offer me
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@Terrance Aryan It did the trick and I actually got access to my account again. I'm so happy!
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@Tadeo Elias you are welcome :D
Qqq
Really nice. It is just super amazing to watch MIT prof. explaining principles of microeconomics like this. I am truly grateful :)
28:50 and the different class exercises of consumer's surplus calculation
18:00 The reason we can't decrease price in perfectly elastic demand
@SkumarC But sir, every per unit product u sell u will incurr a loss. So doesn't matter how much revenue u make, u r incurring loss on every unit, hence ur SP
This is amazing! Please do more videos like this :)
He’s a great professor but did he just use the f word? Guess that makes him great...
awesome professor, wish i took his class instead of my university class.
43:25
Nice
That's nice to watch how he explained it's process
JD Salinger presents MIT open courseware stars and celebrities, what do they know? Do they know things? Lets find out!
The Bojack Horseman reference though
man can you explain it? i didnt get it
@@Iisluna844 what minute was it?
@@rubencrisitano9 i search it and got the reference but thanks for helping
This is amazing! Thanks
Substitute/alternative for higher gas price is switching to electric vehicles
Thank you sir.
44:42 can anyone explain how efficient producers have higher producer surplus?
Because if they are efficient that means that they can produce the products for cheaper and that mean that compared to inefficient producer they would have a higher margin of profit due to efficient production.
👍
This man is living in 3020
Is LR demand always more elastic than SR demand?
I'm not an expert here, but I think when we consider demand for a whole market e.g. 'food industry' then demand will be inelastic in both cases as there's no real substitute, so I think there's few cases but in general demand in lr will be more elastic
Depends on the good, where close substitutes are easily available SR demand will always be more elastic than LR.
24:13 so basically girl math?
How Spanx being such a trivial company made billions for no legit reason.
Why honest company even exist.
Why always celebrities create fragrance, cosmetics and fitness businesses. 14:11
Great job but he didn't address what happens when a CEO just decides to raise prices and blame inflation
What if the demand remains the same but the supplier wants more money and charges more? Will people buy less gas and hell stagnate so he reduces his supply and cost goes up etc. He'll reach equilibrium again when only a few consumers buy at a very high rate. He doesn't really care because he's making more money for less work. That's how u make a third world huh? There is a philosophy behind a good market.
He must listen to Kendrick Lamar 😁
He used the F word😅
bojack!
I am able to summarize the 47:49 in just 49 seconds: The solution, based on what’s going on in the entire world is: females close your legs, and males zip your pants, starting by mine. In 2000 we were 6 billions, 20 years later we are roughly 8 billions.
I guess you are smarter than Elon Musk: ua-cam.com/video/_U2kR6TOQcY/v-deo.html