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

And this tutorial men talk about consumer surplus and producer surplus, I am talk about price ceilings, I am gonna calculate total benefit before and after a pricing. As usual put price along the vertical axis in quantity along the horizontal axis, gonna put in a supply curve in the demand curve, equilibrium is right there with their daughters and also that is a price I am 8 in quantity of 6. Where they get a and six I just made it up for this example consumer surplus is area but price and below the demand curve or the area outlined their in the yellow triangle, so the blue triangle is consumer surplus, so consumer surplus is the...

posted on: Jul 12, 2015 | author: Jan

How The Stock Exchange Works (For Dummies)...

What is the Stock Exchange and how does it work? The Stock Exchange is nothing more than a giant globally network tend to organize the market place where every day huge sums of money are moved back and forth. In total over sixty trillion (60,000,000,000,000) Euros a year are traded. More than the value of all goods and services of the entire world economy. However it’s not apples or second hand toothbrushes that are traded on this marketplace. But predominantly securities. Securities are rights to assets , mostly in the form of shares. A share stands for a share in a company. But why are shares traded at all? Well, first and foremost the value of a share...

posted on: Jul 11, 2015 | author: Jan

Health Economics

Hi! My name is Doctor Sanjay Sharma, I am a professor of ophthalmology and epidemiology at Queen’s University. As a researcher I am very interested in a particular area of Epidemiology called Health Economics. Prolific goal of health economics is to work out the cost-benefit, numbers for a new intervention in a way that can help doctors and policymakers. Make the often difficult decision on which interventions to pay for and which may be too expensive for the public health care system to find, I want to give you a high-level overview and how we do this. The key thing is being able to put a value on a new drug or procedure. In health care we measure...

posted on: Jul 10, 2015 | author: Jan

Equity and Efficiency in Economics

Through basic concept an economics that we want to keep in mind particularly as we investigate, there for situation and problems and possible solutions. We wanna discern the difference between Efficiency vs Equity, that is argument to make an economic system more efficient vs argument to make economic system more equitable. Efficiency generally means operating the lowest possible cost for what you really is your producing, what are output you are creating. We argue in Microeconomics that free competitive markets would achieve get efficiency, they would true computational regulator they would keep prices on the market relatively low and this low prices would force firms to operate and minimum cost. So that you and I the consumer are...

posted on: Jul 9, 2015 | author: Jan

Economics Shifting Supply and Demand

Welcome to the No Bull review session for students in AP macro and microeconomics last time we looked at the laws of supply and demand, today we are going to focus on shifting the supply-demand curves. Let’s begin with the rightward shift to the demand curve suppose that we have a market for video games which is initially at equilibrium with market price of fifty dollars and 80,000 video games, now suppose the video games become wildly popular causing the demand curve to increase to shift to the right. When that shift curves the market price will increase from fifty to sixty dollars, and the equilibrium quantity will increase from eighty to ninety thousand video games. So when...

posted on: Jul 8, 2015 | author: Jan

Economics Game Theory

Game theory is one of those particular concepts tha pupils can find either very easy or very difficult depending on how it is taught, could be the focus needs to be on firms but a good way to start is by considering the prisoner’s dilemma. Using the prisoner’s dilemma gives people the opportunity to focus on examples that they may be used in from school, or allow them to at least understand concepts that they are able to have seen I at work or on TV programs. That gives them a basis in a background for them to then apply the same concepts here in this example will be working through, what I have got is two firms...

posted on: Jul 7, 2015 | author: Jan

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