This video goes over the 4 steps necessary to solve for equilibrium price and quantity in common economic and microeconomic problems. These 4 steps involve finding the demand and supply equations, setting each equal to quantity which allows you to set them equal to each other. This means that you are left with one equation and one unknown. The unknown will be the price variable and once you solve for this you will be able to plug it into either quantity equation in order to solve for market equilibrium. More informaiton on this topic is available at http://www.freeeconhelp.com/2011/09/how-to-find-equilibrium-price-and.html
Views: 408004 Free Econ Help
Tutorial on how to solve for quantity demanded and quantity supplied using equations (algebra) used in economics class. Demonstration on how to determine equilibrium price and quantity (or market price and market quantity) and points on the demand and supply curves. Like us on: http://www.facebook.com/PartyMoreStudyLess Related Video: "How to calculate Inverse Supply and Inverse Demand http://www.youtube.com/watch?v=cHq3CBLAB-o
Views: 331589 Economicsfun
This video goes over the process for finding the new equilibrium price and quantity after a shift occurs in the demand curve, the supply curve or both. More information on this topic can be found at http://www.freeeconhelp.com/2012/03/solving-for-equilibrium-price-and.html
Views: 20351 Free Econ Help
This video lesson demonstrates how to find the equilibrium price and quantity for a product when given the demand and supply equations for the product.
Views: 106893 Jason Welker
Now that you've mastered demand and supply equations, it's time to put them together to determine the equilibrium price and quantity in a market! This less shows you how to solve for equilibrium price and quantity using linear demand and supply equations. Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870
Views: 51854 Jason Welker
CA CPT Economics/ Foundation:- Determination Of Equilibrium Price And Equilibrium Quantity
Views: 4763 CA Kapil Goyal - Audit Discussion
In this lesson, we investigate how prices reach equilibrium and how the market works like an invisible hand coordinating economic activity. At equilibrium, the price is stable and gains from trade are maximized. When the price is not at equilibrium, a shortage or a surplus occurs. The equilibrium price is the result of competition amongst buyers and sellers. Microeconomics Course: http://bit.ly/20VablY Ask a question about the video: http://bit.ly/1WJ4kPF Next video: http://bit.ly/1Q0Bs3D
Views: 350570 Marginal Revolution University
Previously we looked at what happens to the equilibrium price and quantity in a market if supply or demand changed. In this video, we explore what happens when BOTH supply and demand are changing at the same time. View more lessons or practice this subject at http://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/basic-economics-concepts-macro/market-equilibrium-disequilibrium-and-changes-in-equilibrium/v/changes-in-equilibrium-price-and-quantity-when-supply-and-demand-change-khan-academy?utm_source=youtube&utm_medium=desc&utm_campaign=apmacroeconomics AP Macroeconomics on Khan Academy: Welcome to Economics! In this lesson we'll define Economic and introduce some of the fundamental tools and perspectives economists use to understand the world around us! Khan Academy is a nonprofit organization with the mission of providing a free, world-class education for anyone, anywhere. We offer quizzes, questions, instructional videos, and articles on a range of academic subjects, including math, biology, chemistry, physics, history, economics, finance, grammar, preschool learning, and more. We provide teachers with tools and data so they can help their students develop the skills, habits, and mindsets for success in school and beyond. Khan Academy has been translated into dozens of languages, and 15 million people around the globe learn on Khan Academy every month. As a 501(c)(3) nonprofit organization, we would love your help! Donate or volunteer today! Donate here: https://www.khanacademy.org/donate?utm_source=youtube&utm_medium=desc Volunteer here: https://www.khanacademy.org/contribute?utm_source=youtube&utm_medium=desc
Views: 18692 Khan Academy
Equilibrium price and quantity for supply and demand Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/microeconomics/supply-demand-equilibrium/market-equilibrium-tutorial/v/changes-in-market-equilibrium?utm_source=YT&utm_medium=Desc&utm_campaign=microeconomics Missed the previous lesson? https://www.khanacademy.org/economics-finance-domain/microeconomics/supply-demand-equilibrium/supply-curve-tutorial/v/long-term-supply-curve-1?utm_source=YT&utm_medium=Desc&utm_campaign=microeconomics Microeconomics on Khan Academy: Topics covered in a traditional college level introductory microeconomics course About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to Khan Academy's Microeconomics channel: https://www.youtube.com/channel/UC_6zQ54DjQJdLodwsxAsdZg Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
Views: 868330 Khan Academy
Do you know what is Equilibrium? If you don't then here is the perfect video for you. We are going to learn the meaning of equilibrium and along with that we will learn what is equilibrium quantity and equilibrium price. This is another important topic of Economics. Make sure to watch it and let me know in the comments what other topics do you want me to cover. Thank you. Subscribe for more: https://bit.ly/2vyxvjs Hey there, Thank you for joining our little nerd family. I am an Undergraduate student and I post these little teach + study videos in Urdu on YouTube. I try to post all the topics from all the subjects that I am studying in my under-graduation. Videos might not be perfect but they do convey the knowledge . So, If you want to keep on watching my videos then Subscribe. https://bit.ly/2vyxvjs FAQ: 1. Where are you from? I am from Pakistan. 2. What is your profession? I am an undergraduate student. #subscribe
Views: 437 Schooling Ruling
This video shows how to find the equilibrium quantity and equilibrium price given the supply and demand function.
Views: 1347 Steve Crow
This is my first video in a series of tutoring videos on basic concepts in economics, business, math, and statistics. If you have any questions or comments please leave them, or if you have a certain topic you would like covered I will try to make a video as soon as possible when you comment.
Views: 59623 tutor717
In this video I explain what happens to the equalibrium price and quantity when demand or supply shifts. Make sure to practice drawing the graph on your own. This is the thrid video in the playlist so make sure that you know how to draw and shift demand and supply before you watching this video. Please leave a comment and subscribe. Demand Video https://www.youtube.com/watch?v=LwLh6ax0zTE Supply Video https://www.youtube.com/watch?v=ewPNugIqCUM Learn it by watching Indiana Jones https://www.youtube.com/watch?v=RP0j3Lnlazs
Views: 821686 Jacob Clifford
This video goes over the method used to find the equilibrium price and quantity for a monopoly. The mathematical process is explained, and future videos will go over examples. A monopoly is one type of market structure that is covered in most introductory microeconomics courses. The trick to finding the profit maximizing output for a monopoly is to find the point where marginal revenue equals marginal cost. This point will show you the optimal level of output for the monopoly, then you need to figure out what they can charge for the good by checking the demand curve. More information on this topic is available at http://www.freeeconhelp.com/2012/03/how-to-find-monopoly-price-and-quantity.html
Views: 63354 Free Econ Help
This video shows how to find the equilibrium price and equilibrium quantity of a good or service mathematically. This can be done by setting the equation for demand and the equation for supply equal to each other and solving for the equilibrium quantity. Once you find the equilibrium quantity you can plug it into one of the equations to find the equilibrium price. The video provides an example to show how the equilibrium price and equilibrium quantity are found using this method. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like Edspira on Facebook, visit https://www.facebook.com/Edspira To sign up for the newsletter, visit http://Edspira.com/register-for-newsletter Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin To follow Michael on Facebook, visit https://www.facebook.com/Prof.Michael.McLaughlin
Views: 2130 Edspira
Three examples are given showing how to mathematically solve for the equilibrium price and quantity.
Views: 7038 1sportingclays
To buy Full Course Lectures click the following link: https://www.instamojo.com/SudhirSachdeva/ Micro Economics DEMO Playlist: https://www.youtube.com/watch?v=DZr8M60cxIA&list=PLVE_dFhGA23xQvMSRRCekLAe0OPcURYj6 Please call @ 9999997086 To Buy Full Course Lectures CA/ CS/ CMA/ B.Com in Pen drive / Download link mode. This video explains Price Determination with the help of Market Demand and Market supply and and determines the Equilibrium level, Equilibrium Price and Equilibrium Quantity. This explains videos helps students understand the impact on equilibrium price and Equilibrium quantity when there is change in either or both of Market supply and Market demand. This video is useful for CA, CS, CMA, B.Com, BBA and Class 11 and 12 students.
Views: 9649 SUDHIR SACHDEVA
Tutorial on how to calculate quantity demanded and quantity supplied with a price floor and a price ceilings (supply and demand). This is typically taught in a economics class. Like us on: http://www.facebook.com/PartyMoreStudyLess
Views: 39487 Economicsfun
This video lesson is for IB Higher Level students or anyone else learning about linear demand and supply equations. We will apply linear equations to calculate the exact impact of an excise tax on cigarettes, determining the new equilibrium price and quantity, and calculating the amount of tax paid by consumers and by producers. Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870
Views: 42568 Jason Welker
In this video I use MS Excel 2010 to plot demand curve and supply curve to find equilibrium price and quantity graphically
Views: 37877 Abdullah M. Khan
This video goes over the process of calculating equilibrium price and quantity as well as consumer and producer surplus given an inverse demand function as well a marginal cost function. A tax is also introduced on the consumer. More information about this topic can be found at http://www.freeeconhelp.com/2012/02/calculating-equilibrium-and-surplus.html
Views: 33327 Free Econ Help
This is an update to the 2012 version of the lesson introducing how to determine an equation for demand using price and quantity data from a demand schedule or a demand curve. In parts 2 and 3 of this lesson we'll examine how changes in price and the non-price determinants of demand will lead to movements along a demand curve or a change in the 'a' and 'b' variables and a shift in demand. Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870
Views: 87763 Jason Welker
This video goes over the math necessary to calculate equilibrium price and quantity as well as the associated consumer and producer surplus when given an inverse demand function and a marginal cost function assuming that we are in a perfectly competitive market. More information on this topic can be found at http://www.freeeconhelp.com/2012/02/calculating-equilibrium-and-surplus.html The trick to solving these problems is understanding how to use the demand and supply functions to get the equilibrium values and sketch out the meaningful points on the graph. You are essentially combining two skills: 1) How to find and calculate for market equilibrium price and quantity and 2) How to calculate consumer and producer surplus mathematically.
Views: 39663 Free Econ Help
This movie describes what consumer surplus is, and how to calculate it with various changes in price, demand, and supply. More information can be found at: https://www.freeeconhelp.com/2011/09/what-is-consumer-surplus-and-how-to.html To summarize consumer surplus is equal to the area underneath the demand curve but above the market price. Another way to think about it is WTP - market price but you have to do this very every possible transaction (hence the triangle). This area can be thought of as the "bonus income" to the consumers because they get to obtain the good or service they desire at a price much lower than their maximum willingness to pay (hence consumer "surplus"). All of them are super lucky and happy--except for one... but it is still a voluntary transaction! Please comment below, I love when you find something helpful or if you have questions or criticism please feel free to share! Also, if you found this helpful remember to like and subscribe to freeeconhelp's channel: www.youtube.com/freeeconhelp/?sub_confirmation=1 Get Social: *********************** Our website: www.freeeconhelp.com Please like us on facebook at: www.facebook.com/freeeconhelp Follow us on twitter: www.twitter.com/freeeconhelp Below is a summary of the transcript for the video: :03.310, :07.020 All right this movie is going to go over how to calculate consumer surplus :07.020, :10.830 And what happens if we have some common changes in Consumer Surplus? :11.590, :13.179 so first :13.179, :16.438 consumer Surplus is easily calculated by :17.619, :23.849 First drawing our typical graph with price and quantity and then measuring out our demand curve :24.850, :30.930 So in order to calculate consumer Surplus we need this demand curve, and we need some price level :32.980, :34.440 We'll call it P star :34.440, :41.460 And then we need to know what this p upper limit is - because we need these numbers in order to calculate :41.8 , :43.270 Consumer surplus :43.270, :48.329 So consumer surplus is the difference between what you're willing to pay :48.610, :54.569 Which is how we construct this demand curve and what you actually have to pay so for each of these :54.850, :59.399 Consumers that are willing to pay a lot more than the actual price they have to pay 1: .129,1:07.469 So it's that area between the demand curve and the price paid that's going to be our consumer surplus 1:08.140,1:09.909 and 1:09.909,1:16.559 As you can see as long as we have linear demand curves consumer Surplus is going to be a triangle 1:18.640,1:23.430 So you have to know how to calculate the area of a triangle and if you don't I'll tell you it's 1/2 1:24.4 ,1:26.110 base 1:26.110,1:28.110 Times height 1:29.479,1:34.419 so let's go through an example if we're given a 1:35.780,1:38.979 curve so we have our q and p and 1:39.649,1:42.399 Our demand and our price 1:43.369,1:48.519 so what if price is five this upper limit price is 10 and 1:49.310,1:51.519 Our equilibrium quantity is five 1:52.520,1:54.610 Okay, so our formula Says 1/2 1:55.850,2:01.899 Base times height well what's the base here the base goes from 0 to 5? 2:02.720,2:04.720 so our base is 5 2:04.849,2:11.919 What's our height goes from 5 to 10 so our height is also 5 so 5 times 5 is 25? 2:12.799,2:19.209 1/2 times 25 gives us 12.5. So our consumer Surplus would be equal to 2:20.780,2:22.780 12.5 2:23.390,2:29.199 Now let's switch it up a little bit. What if we change we shift this demand curve 2:31.940,2:35.380 So let's say that it now intersects at 8 2:36.980,2:38.980 and 2:39.139,2:44.379 Price is still at 5. So this is our demand curve before 2:46.609,2:48.470 5 2:48.470,2:54. 9 Let's call this 3. This is our demand curve before for some reason it shifts left 2:54.010,2:56.590 And this is our new consumer Surplus 2:57.560,3:03.729 How do we calculate the area of that well it's going to be 1/2 times Base 3 3:04.069,3:07.988 Times Height 3 so our new consumer Surplus is 3:09.139,3:15.039 going to be 4.5. So if they ask us to calculate the difference in Consumer Surplus 3:15.560,3:21.130 It's going to be 12 point 5 minus 4 point 5. What is that going to give us? 3:22.430,3:29.260 8 so really to solve these problems all you have to do is shift that curve know what the values are 3:31.190,3:36.939 Calculate the areas of the triangles and then subtract one from the other to find the difference 3:40.070,3:42.070 you can also 3:42.180,3:45.950 Have a situation where the price increases 3:47.490,3:49.490 So if you have Q and p 3:51.9 ,3:53.9 Let's do 10 3:54.480,3:56.480 That's our demand curve 3:56.910,3:58.910 we have a p of 3:59.310,4:01.110 5P star 4:01.110,4:06.230 Or equilibrium quantity is 5 we know what the area of that is but now let's increase 4:07.050,4:08.220 our 4:08.220,4:09.510 p 4:09.510,4:12.739 Star Star, we'll call it to 7
Views: 307075 Free Econ Help
Solving for equilibrium price and quantity when the demand function is nonlinear
Views: 3649 UNCGEconomics
Equilibrium price and quantity from changes in both supply and demand
Views: 7784 Khan Academy
This video shows you how to find the long-run equilibrium price in a perfectly competitive market, in addition to finding the firm's output level, market quantity demanded, and number of firms in the market. A brief review of long-run equilibrium is provided, too.
Views: 34608 1sportingclays
PRICE DETERMINATION UNDER PERFECT COMPETITION MARKET Meaning of Equilibrium, Equilibrium quantity, Equilibrium price, Excess demand, Excess supply explained with schedule and Graph. A market is in equilibrium when market demand is equal to market supply. Excess Demand : When market price is less than equilibrium price Excess supply : when market price is more than equilibrium price Useful for Economics students in class 12th, CA CPT, CS, CMA, MBA, BBA, B.com other courses. FOR MORE VIDEOS SUBSCRIBE AND SHARE THE CHANNEL http://www.youtube.com/c/CEPClasses FOLLOW US ON ---- INSTAGRAM https://www.instagram.com/cep_classes/ FACEBOOK https://www.facebook.com/CommerceEduc... TWITTER https://twitter.com/cep_classes | OTHER USEFUL LINKS :-| PRODUCER EQUILIBRIUM | MR MC APPROACH | IMPERFECT COMPETITION https://youtu.be/_2-XKkVFEls IMPLICATIONS /FEATURES - MONOPOLISTIC COMPETITION https://www.youtube.com/watch?v=KRi_k... IMPLICATIONS /FEATURES - PERFECT COMPETITION https://www.youtube.com/watch?v=vqSVc... #IMPLICATIONS /FEATURES - MONOPOLY COMPETITION https://www.youtube.com/watch?v=7n9kF... CONSUMER EQUILIBRIUM- FULL CHAPTER VIDEOS https://www.youtube.com/playlist?list... PRODUCTION POSSIBILITY CURVE -FULL CHAPTER VIDEOS https://www.youtube.com/watch?v=sfo1F... PRICE ELASTICITY OF DEMAND- FULL CHAPTER VIDEOS https://www.youtube.com/watch?v=vvdeP... THEORY OF DEMAND- FULL CHAPTER VIDEOS https://www.youtube.com/watch?v=Xl3g0... TIPS TO SCORE MORE IN BUSINESS STUDIES https://www.youtube.com/watch?v=vDsI9... Cep classes
Views: 2246 CEP Classes
This video shows how to find the market price and quantity when a per-unit subsidy is in place in a market. For more information and a complete listing of videos and online articles by topic or textbook chapter, see http://www.economistsdoitwithmodels.com/economics-classroom/ For t-shirts and other EDIWM items, see http://www.economistsdoitwithmodels.com/merch/ By Jodi Beggs - Economists Do It With Models http://www.economistsdoitwithmodels.com Facebook: http://www.facebook.com/economistsdoitwithmodels Twitter: http://www.twitter.com/jodiecongirl Tumblr: http://economistsdoitwithmodels.tumblr.com
Views: 15426 jodiecongirl
A quick and comprehensive intro to Supply and Demand. We define the demand curve, supply curve and equilibrium price & quantity. We draw a demand and supply curve graph - and figure out why they look like they do. We find equilibrium quantity and equilibrium price. This video targets a student in an introduction to microeconomics class. •Video 1: Intro to Supply & Demand: http://youtu.be/op70yS_7du8 •Video 2: Shifts to Supply or Demand Cruves: http://youtu.be/es_g3L1kmR8 •Video 3: Shifts in BOTH Supply and Demand: http://youtu.be/EiYbrhFwErI More Intro to Microeconomics Videos: https://sites.google.com/site/curtiskephart/ta/krugman-wells-microeconomics-solutions ------------------------------------------------------ Video Outline: A "market" with price and quantity. Demand Curve 2:00 • The law of demand. • Increases and Decreases in Demand. 5:30 • Another Video on the topic: Supply curve. • The law of supply 9:30 • Increases and decreases in Supply. 11:44 • Another video on this topic Demand and Supply together. 15:50 • Equilibrium price and quantity supplied and demanded. 16:20 • Forces that tend toward equilibrium. Shortage, 18:15. Surplus 21:20
Views: 347904 economicurtis
In this video lecture we seek to understand what makes equilibrium price and quantity the most efficient price and quantity combination in a competitive market. Economic efficiency is defined, and we examine the effect on efficiency of any quantity of output less than or greater than the equilibrium quantity, at which marginal benefit equals marginal cost.
Views: 49925 Jason Welker