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Deadweight Loss, Consumer & Producer Surplus- Microeconomics 2.7 (Holiday Edition)
 
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Welcome to ACDC Econ and my first holiday edition. In this video I explain consumer surplus, producer surplus, and deadweight loss. Make sure that you can see how each change when there is a change in the market. *Correction* The consumer surplus at 0:59 in the video is $6000. ($8-$5) x 4000/2. It is a triangle! Notice that deadweight loss happens whenever the optimal quantity is not being produced. This also happens when there are taxes or externalities. By the way, my wife, Paula, was the one throwing snowballs at me. We had to do it in two takes and I think she enjoyed it way too much. Why you should never give gifts to others- Video isn't available yet Microeconomics Videos https://www.youtube.com/watch?v=swnoF533C_c Macroeconomics Videos https://www.youtube.com/watch?v=XnFv3d8qllI Watch Econmovies https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH Follow me on Twitter https://twitter.com/acdcleadership I got the rock'n version of Deck the Halls here: https://www.youtube.com/watch?v=QF84X6kLrIA
Views: 272914 ACDCLeadership
What is DEADWEIGHT LOSS? What does DEADWEIGHT LOSS mean? DEADWEIGHT LOSS meaning & explanation
 
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What is DEADWEIGHT LOSS? What does DEADWEIGHT LOSS mean? DEADWEIGHT LOSS meaning & explanation. In economics, a deadweight loss (also known as excess burden or allocative inefficiency) is a loss of economic efficiency that can occur when equilibrium for a good or service is not achieved or is not achievable. Causes of deadweight loss can include monopoly pricing (in the case of artificial scarcity), externalities, taxes or subsidies, and binding price ceilings or floors (including minimum wages). The term deadweight loss may also be referred to as the "excess burden" of monopoly or taxation. For example, consider a market for nails where the cost of each nail is 10 cents and the demand will decrease linearly from a high demand for free nails to zero demand for nails at $1.10. In a perfectly competitive market, producers would have to charge a price of 10 cents and every customer whose marginal benefit exceeds 10 cents would have a nail. However, if there is one producer who has a monopoly on the product, then they will charge whatever price will yield the greatest profit. For this market, the producer would charge 60 cents and thus exclude every customer who had less than 60 cents of marginal benefit. The deadweight loss is then the economic benefit foregone by these customers due to the monopoly pricing. Conversely, deadweight loss can also come from consumers buying a product even if it costs more than it benefits them. To describe this, let's use the same nail market, but instead it will be perfectly competitive, with the government giving a 3 cent subsidy to every nail produced. This 3 cent subsidy will push the market price of each nail down to 7 cents. Some consumers then buy nails even though the benefit to them is less than the real cost of 10 cents. This unneeded expense then creates the deadweight loss: resources are not being used efficiently. If the price of a glass of wine is $3.00 and the price of a glass of beer is $3.00, a consumer might prefer to drink wine. If the government decides to levy a wine tax of $3.00 per glass, the consumer might prefer to drink beer. The excess burden of taxation is the loss of utility to the consumer for drinking beer instead of wine, since everything else remains unchanged.
Views: 1406 The Audiopedia
What is Deadweight Loss?
 
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Welcome to the Investors Trading Academy talking glossary of financial terms and events. Our word of the day is “Deadweight Loss” Deadweight loss is the fall in total surplus that results from a market distortion, such as a tax. In economics, a deadweight loss (also known as excess burden or allocative inefficiency) is a loss of economic efficiency that can occur when equilibrium for a good or service is not achieved or is not achievable. Deadweight loss can be stated as the loss of total welfare or the social surplus due to reasons like taxes or subsidies, price ceilings or floors, externalities and monopoly pricing. It is the excess burden created due to loss of benefit to the participants in trade which are individuals as consumers, producers or the government. For example, if a certain tax is imposed on the producer for each unit of the good he sells, it is likely that the new equilibrium price that is settled for the transaction will be higher and therefore some burden of this will be passed on to the consumer. By Barry Norman, Investors Trading Academy - ITA
What is a Deadweight Loss?
 
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Here we talk about the fundamental idea of deadweight loss: Something that causes a loss of total surplus, consumer + producer surplus.
Views: 378 BurkeyAcademy
Short Answers - Deadweight Loss of Welfare
 
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​This video looks at the answer to two short questions on the concept of the deadweight loss of welfare. The two questions are: What is meant by a deadweight loss?​ Explain why the long run equilibrium in monopoly is likely to lead to a deadweight loss of economic welfare​​
Views: 1630 tutor2u
10a: what is deadweight loss
 
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This video shows how, if there are no external effects, a perfectly competitive equilibrium maximizes social surplus. We define deadweight loss as the loss of social surplus compared to the maximum level and show how to find it and how to interpret it.
Views: 11572 stephen king
Dead-weight loss
 
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Eaisy economics
Views: 733 Easy Economics
Deadweight Loss of Economic Welfare Explained
 
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The idea of a deadweight loss relates to the consequences for economic efficiency when a market is not at an equilibrium. The concept links closely to the ideas of consumer and producer surplus.
Views: 2062 tutor2u
Deadweight Meaning
 
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Video shows what deadweight means. The largest weight of cargo a ship is able to carry; i.e, the weight of a ship when fully loaded minus its weight when empty.. A useless, usually encumbering factor.. Deadweight Meaning. How to pronounce, definition audio dictionary. How to say deadweight. Powered by MaryTTS, Wiktionary
Views: 845 SDictionary
What is Deadweight Loss? | Deadweight Loss Explained
 
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A deadweight loss, also known as excess burden or allocative inefficiency, is a loss of economic efficiency that can occur when equilibrium for a good or a service is not achieved. That can be caused by monopoly pricing in the case of artificial scarcity, an externality, a tax or subsidy, or a binding price ceiling or price floor such as a minimum wage. Examples: An example is a market for nails where the cost of each nail is $0.10 and the demand decreases linearly, from a high demand for free nails to zero demand for nails at $1.10. If the market has perfect competition, producers would have to charge a price of $0.10, and every customer whose marginal benefit exceeds $0.10 would have a nail. However, if there is one producer with a monopoly on the product, it will charge whatever price will yield the greatest profit. The producer would then charge $0.60 and thus exclude every customer who had less than $0.60 of marginal benefit. The deadweight loss would then be the economic benefit foregone by such customers because of monopoly pricing. Conversely, deadweight loss can come from consumers if they buy a product even if it costs more than it benefits them. To describe this, if the same nail market had the government giving a $0.03 subsidy to every nail produced, the subsidy would push the market price of each nail down to $0.07. Some consumers would then buy nails even though the benefit to them is less than the real cost of $0.10. That unneeded expense would then create a deadweight loss, with resources not being used efficiently. If the price of a glass of wine is $3.00 and the price of a glass of beer is $3.00, a consumer might prefer to drink wine. If the government decides to levy a wine tax of $3.00 per glass, the consumer might prefer to drink beer. The excess burden of taxation is the loss of utility to the consumer for drinking beer instead of wine since everything else remains unchanged. Sources: Text: Text of this video has been taken from Wikipedia; which is available under the Creative Commons Attribution-ShareAlike License
Views: 26 Free Audio Books
Dead Lifts (Hindi / Punjabi)
 
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One of THE MUST DO exercise that often gets neglected. Add german volume and try to use alternate grip if lifting heavy weights. Aim for quality sets with proper posture and form. Learn, Comment, Like & Share! Make sure to share this video! https://www.facebook.com/mybollywoodbody https://www.twitter.com/mybollywoodbody https://instagram.com/mybollywoodbody
Views: 351769 MY BOLLYWOOD BODY
DEAD WEIGHT LOSS monopoly formula definition tax price floor subsidy
 
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DEAD WEIGHT LOSS monopoly formula definition tax price floor subsidy VISIT OUR WEBSITE https://www.souravsirclasses.com/ FOR COMPLETE LECTURES / STUDY MATERIALS /NOTES /GUIDENCE / PAST YEAR SOLVED +SAMPLE PAPAERS /TRICKS /MCQ / SHORT CUT/ VIDEO LECTURES /LIVE + ONLINE CLASSES GIVE US A CALL / WHAST APP AT 9836793076 Also find us at…. BLOGSPOT http://souravdas3366.blogspot.com/ SLIDES ON COURSES https://www.slideshare.net/Souravdas31 TWITTER https://twitter.com/souravdas3366 FACEBOOK https://www.facebook.com/Sourav-Sirs-... LINKED IN https://www.linkedin.com/in/sourav-da... GOOGLE PLUS https://plus.google.com/+souravdassou... a deadweight loss a deadweight loss arises in monopoly because a deadweight loss hivemind a deadweight loss is a consequence a deadweight loss is a situation where a deadweight loss is the total of a deadweight loss occurs when a deadweight loss occurs whenever a tax that has no deadweight loss apa yang dimaksud dead weight loss arti kata dead weight loss benefits of deadweight loss dead doctors don't lie weight loss deadlift weight loss deadweight loss deadweight loss 2-9 deadweight loss activity 2-9 deadweight loss ad valorem tax deadweight loss adalah deadweight loss after tax deadweight loss and distortion deadweight loss and elasticity deadweight loss and externalities deadweight loss and market failure are created when a market produces deadweight loss and monopoly deadweight loss and tax deadweight loss and tax revenue deadweight loss and welfare loss deadweight loss area deadweight loss bad deadweight loss bertrand deadweight loss binding price floor deadweight loss black market deadweight loss burden deadweight loss by monopoly deadweight loss by subsidy deadweight loss by tax deadweight loss calculation deadweight loss calculation monopoly deadweight loss caused by monopoly deadweight loss caused by monopoly pricing is represented by the area deadweight loss caused by tariff deadweight loss caused by tax deadweight loss causes deadweight loss consumer surplus and producer surplus deadweight loss cournot deadweight loss curve deadweight loss declines in size when a unit of output is produced for which deadweight loss define deadweight loss definition deadweight loss diagram deadweight loss due to monopoly deadweight loss due to monopoly pricing deadweight loss due to price ceiling deadweight loss due to subsidy deadweight loss due to tariff deadweight loss due to taxation deadweight loss econ deadweight loss economics deadweight loss economics definition deadweight loss eesti keeles deadweight loss equals zero deadweight loss equation deadweight loss example deadweight loss excess burden deadweight loss explained deadweight loss externality deadweight loss for subsidy deadweight loss formula deadweight loss formula monopoly deadweight loss from externalities deadweight loss from monopoly deadweight loss from monopoly can best be described as the deadweight loss from price ceiling deadweight loss from price floor deadweight loss from tariff deadweight loss from tax deadweight loss from underproduction deadweight loss government intervention deadweight loss government subsidy deadweight loss graph deadweight loss graph example deadweight loss graph explained deadweight loss graph explanation deadweight loss graph microeconomics deadweight loss graph monopoly deadweight loss graph tax deadweight loss health insurance deadweight loss holiday gift giving deadweight loss horizontal supply curve deadweight loss how to calculate deadweight loss in economics deadweight loss in health care deadweight loss in monopoly deadweight loss in price ceiling deadweight loss in price floor deadweight loss in subsidy deadweight loss in taxation deadweight loss in taxes deadweight loss interpret deadweight loss is defined as deadweight loss is maximized when deadweight loss joke deadweight loss khan deadweight loss labor market deadweight loss linguee deadweight loss loss deadweight loss lump sum tax deadweight loss là gì deadweight loss meaning deadweight loss measures monopoly inefficiency deadweight loss measures the loss deadweight loss measures the loss quizlet deadweight loss minimum wage deadweight loss monopoly deadweight loss monopoly and perfect competition deadweight loss monopoly equation deadweight loss monopoly example deadweight loss monopoly formula deadweight loss monopoly graph deadweight loss natural monopoly deadweight loss natural monopoly graph deadweight loss nedir deadweight loss negative deadweight loss negative consumption externality deadweight loss negative externality deadweight loss news deadweight loss nghĩa là gì deadweight loss notes deadweight loss numerical deadweight loss occurs in which type of market structure deadweight loss of a tariff
Dead Weight Loss (DWL)
 
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Source: http://cfa.minute-class.com Explain DWL and DWL due to Price Ceiling
Views: 25182 johnbernke
Consumer Surplus, Producer Surplus, and Deadweight Loss
 
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This video defines, describes and calculates consumer surplus, consumer surplus, and deadweight loss.
Views: 39711 mcneilecon
Dead Weight Loss due to Subsidary
 
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More at http://cfa.minute-class.com
Views: 30656 johnbernke
Understanding Dead Weight and Volumetric Weight (English)
 
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In this video, you will understand the concept of dead weight and volumetric weight.
Measuring Pressure with a Deadweight Tester
 
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Operating a deadweight tester is easy if you understand some fundamental principles. Watch this video to learn: factors that impact pressure; how to avoid complex calculations; what about gravity; and details behind the specs.
Views: 22132 Fluke Calibration
Dead weight Meaning
 
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Video shows what dead weight means. unremitting heavy weight that does not move. that which is useless or excess; that which slows something down. Dead weight Meaning. How to pronounce, definition audio dictionary. How to say dead weight. Powered by MaryTTS, Wiktionary
Views: 54 SDictionary
Panic! At The Disco: Death Of A Bachelor [OFFICIAL VIDEO]
 
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Panic! At The Disco's official video for 'Death Of A Bachelor.' New album Death Of A Bachelor available now on DCD2 / Fueled By Ramen. Get it on iTunes http://smarturl.it/PATDDeathOfABachelor, Amazon http://smarturl.it/DOABAmazon and Google Play http://smarturl.it/DeathOfABachelorGP Stream on Spotify http://spoti.fi/1RItJL1 or Apple Music smarturl.it/DeathOfABachelorAM Subscribe to P!ATD on YouTube: http://bit.ly/1jTpNa1 Upcoming tour dates - http://www.panicatthedisco.com/tour Site: http://panicatthedisco.com Facebook: http://facebook.com/panicatthedisco Twitter: http://twitter.com/panicatthedisco YouTube: http://youtube.com/panicatthedisco Instagram: http://instagram.com/panicatthedisco Spotify: http://spoti.fi/1CsbsdC Shazam: http://bit.ly/1KiNmW5 Store: http://panicatthedisco.gomerch.com Directed by SCANTRON and Mel Soria LYRICS Do I look lonely I see the shadows on my face People have told me I don't look the same Maybe I lost weight I'm playing hooky With the best of the best Pull my heart out my chest So that you can see it too I'm walking the long road Watching the sky fall The lace in your dress Tangles my neck How do I live The death of a bachelor Oh oh oh Letting the water fall The death of a bachelor Oh oh oh Seems so fitting for Happily ever after Whooo How could I ask for more Lifetime of laughter At the expense Of the death of a bachelor I'm cutting my mind off Feels like my heart is going to burst Alone at a table for two And I just want to be served And when you think of me Am I the best you've ever had Share one more drink with me Smile even though you're sad
Views: 104669296 Fueled By Ramen
Underproduction Meaning
 
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Video shows what underproduction means. The production of an insufficient amount. Underproduction Meaning. How to pronounce, definition audio dictionary. How to say underproduction. Powered by MaryTTS, Wiktionary
Views: 8 ADictionary
Taxes on Producers- Microeconomics 2.11 ACDC Econ
 
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I explain excise taxes any show what happens to consumer surplus, producer surplus, and deadweight loss as a result of a tax. Make sure to watch the section about tax incidence and who pays the majority of a tax.
Views: 452330 ACDCLeadership
Episode 27B: Deadweight Loss from Monopoly
 
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This video shows more formally how society as a whole loses under a monopoly vs. a competitive market. "EPISODE 27B: Deadweight Loss from Monopoly" by Dr. Mary J. McGlasson is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
Views: 48458 mjmfoodie
Micro 4.3 Monopoly Dead Weight Loss Review: AP Microeconomics
 
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Mr. Clifford's 60 second explanation of how to identify the consumer and producer surplus on the monopoly graph. Notice that monopolies charge a higher price and produce a lower output than perfectly competitive markets. Since monopolies are inefficient they also have dead weight loss. Please keep in mind that these clips are not designed to teach you the key concepts. These videos are a review tool to help you better understand what you learned in class. ACDC is Mr. Clifford's teaching philosophy: Active Learning Cooperative Learning Discovery Learning Community
Views: 222462 ACDCLeadership
Price Ceilings and Floors- Economics 2.6
 
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In this video I explain what happens when the government controls market prices. Price ceilings are a legal maximum price and price floors are a minimum legal price. Make sure that you can draw each of them on a demand and supply graph and identify if there is a shortage or a surplus. Keep in mind that your teacher may use the word "binding" to describe the situation where the price control has an effect on the market. If you need more help, check out my Ultimate Review Packet http://www.acdcecon.com/#!review-packet/czji Next videos showing what happens to consumer surplus, producer surplu, and dead weight loss https://www.youtube.com/watch?v=n0LXkA9kato All Microeconomics Videos https://www.youtube.com/watch?v=swnoF... All Macroeconomics Videos https://www.youtube.com/watch?v=XnFv3... Watch Econmovies https://www.youtube.com/playlist?list... Follow me on Twitter https://twitter.com/acdcleadership
Views: 503727 ACDCLeadership
How to calculate deadweight loss
 
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This video goes over the basic concepts of calculating deadweight loss, and goes through a few examples. More information on this topic is available at http://www.freeeconhelp.com/2011/10/how-to-calculate-deadweight-loss-easy-4.html
Views: 197056 Free Econ Help
Subsidies
 
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What is a subsidy? A subsidy is really just a negative or reverse tax. Instead of collecting money in the form of a tax, the government gives money to consumer or producers. In this video, we look at the subsidy wedge and who benefits the most from different subsidies. Microeconomics Course: http://bit.ly/20VablY Ask a question about the video: http://bit.ly/1WJcibm Next video: http://bit.ly/1Q0RBpE Help us caption & translate this video! http://amara.org/v/GCs5/
The science is in: Exercise isn’t the best way to lose weight
 
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Why working out is great for health, but not for weight loss, explained in five minutes. Subscribe to our channel! http://goo.gl/0bsAjO Vox.com is a news website that helps you cut through the noise and understand what's really driving the events in the headlines. Check out http://www.vox.com to get up to speed on everything from Kurdistan to the Kim Kardashian app. Check out our full video catalog: http://goo.gl/IZONyE Follow Vox on Twitter: http://goo.gl/XFrZ5H Or on Facebook: http://goo.gl/U2g06o
Views: 6664722 Vox
Micro 2.7 Consumer and Producer Surplus and Dead Weight Loss
 
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Mr. Clifford's 60 second explanation of consumer's surplus (CS) and producer's surplus (PS) and how to identify where it is on the graph. The bonus round shows how a price ceiling changes CS and PS and results in dead weight loss. Please keep in mind that these clips are not designed to teach you the key concepts. These videos are a review tool to help you better understand what you learned in class. ACDC is Mr. Clifford's teaching philosophy: Active Learning Cooperative Learning Discovery Learning Community Q: Why is he dressed like a pirate? A: Why not
Views: 152424 ACDCLeadership
Deadweight tonnage
 
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Deadweight tonnage (also known as deadweight; abbreviated to DWT, D.W.T., d.w.t., or dwt) is a measure of how much weight a ship is carrying or can safely carry. It is the sum of the weights of cargo, fuel, fresh water, ballast water, provisions, passengers, and crew. The term is often used to specify a ship's maximum permissible deadweight, the DWT when the ship is fully loaded so that its Plimsoll line is at the point of submersion, although it may also denote the actual DWT of a ship not loaded to capacity. Deadweight tonnage is not a measure of the ship's displacement and should not be confused with gross tonnage or net tonnage (or their more archaic forms gross register tonnage or net register tonnage). Deadweight tonnage was historically expressed in long tons but is now usually given internationally in tonnes (metric tons). In modern international shipping conventions such as the International Convention for the Safety of Life at Sea and the International Convention for the Prevention of Pollution From Ships, deadweight is explicitly defined as the difference in tonnes between the displacement of a ship in water of a specific gravity of 1.025 (corresponding to average density of sea water) at the draft corresponding to the assigned summer freeboard and the light displacement (lightweight) of the ship. This video is targeted to blind users. Attribution: Article text available under CC-BY-SA Creative Commons image source in video
Views: 8271 Audiopedia
How to calculate the impact of import and export tariffs.
 
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A tutorial on how import prices increases consumer surplus and decreases producer surplus, the impact of tariffs and the deadweight loss to society. Like us on: http://www.facebook.com/PartyMoreStudyLess
Views: 166072 Economicsfun
How to Fix a Slow Metabolism: MUST WATCH!
 
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Take Dr. Berg's Advanced Evaluation Quiz: http://bit.ly/EvalQuiz For more in-depth info go here: https://shop.drberg.com/dr-bergs-adrenal-body-type-exclusive-membership-1y Dr. Berg talks about the details on how to fix a slow metabolism. Dr. Eric Berg DC Bio: Dr. Berg, 51 years of age is a chiropractor who specializes in weight loss through nutritional and natural methods. His private practice is located in Alexandria, Virginia. His clients include senior officials in the U.S. government and the Justice Department, ambassadors, medical doctors, high-level executives of prominent corporations, scientists, engineers, professors, and other clients from all walks of life. He is the author of The 7 Principles of Fat Burning, published by KB Publishing in January 2011. Dr. Berg trains chiropractors, physicians and allied healthcare practitioners in his methods, and to date he has trained over 2,500 healthcare professionals. He has been an active member of the Endocrinology Society, and has worked as a past part-time adjunct professor at Howard University. DR. BERG'S VIDEO BLOG: http://www.drberg.com/blog FACEBOOK: http://www.facebook.com/DrEricBerg TWITTER: http://twitter.com/DrBergDC YOUTUBE: https://www.youtube.com/user/drericberg123 ABOUT DR. BERG: http://www.drberg.com/dr-eric-berg/bio DR. BERG'S SEMINARS: http://www.drberg.com/seminars DR. BERG'S STORY: http://www.drberg.com/dr-eric-berg/story DR. BERG'S CLINIC: https://www.drberg.com/dr-eric-berg/clinic DR. BERG'S HEALTH COACHING TRAINING: http://www.drberg.com/weight-loss-coach DR. BERG'S SHOP: http://shop.drberg.com/ DR. BERG'S REVIEWS: http://www.drberg.com/reviews The Health & Wellness Center 4709 D Pinecrest Office Park Drive Alexandria, VA 22312 703-354-7336 Disclaimer: Dr. Berg does not diagnose, treat or prevent any medical conditions; instead he helps people create their health to avoid health problems. He works with their physicians, which regular their medication. This video is not designed to and does not provide medical advice, professional diagnosis, opinion, treatment or services to you or to any other individual. Through my videos, blog posts, website information, I give suggestions for you and your doctor to research and provide general information for educational purposes only. The information provided in this video or site, or through linkages to other sites, is not a substitute for medical or professional care, and you should not use the information in place of a visit, call consultation or the advice of your physician or other healthcare provider. The Health & Wellness and Dr. Eric Berg, D.C. are not liable or responsible for any advice, course of treatment, diagnosis or any other information, services or product you obtain through this video or site.
Views: 2577089 Dr. Eric Berg DC
What is EXCESS BURDEN? What does EXCESS BURDEN mean? EXCESS BURDEN meaning, definition & explanation
 
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What is EXCESS BURDEN? What does EXCESS BURDEN mean? EXCESS BURDEN meaning, definition & explanation. In economics, the excess burden of taxation, also known as the deadweight cost or deadweight loss of taxation, is one of the economic losses that society suffers as the result of taxes or subsidies. Economic theory posits that distortions change the amount and type of economic behavior from that which would occur in a free market without the tax. Excess burdens can be measured using the average cost of funds or the marginal cost of funds (MCF). Excess burdens were first discussed by Adam Smith. An equivalent kind of inefficiency can also be caused by subsidies (that are actually taxes with negative rates). Economic losses due to taxes were evaluated to be as low as 2.5 cents per dollar of revenue, and as high as 30 cents per dollar of revenue (on average), and even much higher at the margins. The cost of a distortion is usually measured as the amount that would have to be paid to the people affected by its supply, the greater the excess burden. The second is the tax rate: as a general rule, the excess burden of a tax increases with the square of the tax rate. The average cost of funds is the total cost of distortions divided by the total revenue collected by a government. In contrast, the marginal cost of funds (MCF) is the size of the distortion that accompanied the last unit of revenue raised (i.e. the rate of change of distortion with respect to revenue). In most cases, the MCF increases as the amount of tax collected increases. The standard position in economics is that the costs in a cost-benefit analysis for any tax-funded project should be increased according to the marginal cost of funds, because that is close to the deadweight loss that will be experienced if the project is added to the budget, or to the deadweight loss removed if the project is removed from the budget.
Views: 1002 The Audiopedia
Micro 6.3 Negative Externalities: Econ Concepts in 60 Seconds-Externality
 
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Mr. Clifford's 60 second explanation of negative externalities (aka: spillover costs). Notice that there are two different supply curves. One is the marginal private cost which ignores the spillover costs and the other is the marginal social cost (MSC) which includes the additional costs to society. Please keep in mind that these clips are not designed to teach you the key concepts. These videos are a review tool to help you better understand what you learned in class. ACDC is Mr. Clifford's teaching philosophy: Active Learning Cooperative Learning Discovery Learning Community
Views: 333842 ACDCLeadership
Deadweight Loss   Introductory Economics
 
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This is a brief demonstration of the effects of imposing a tax - Consumers can afford less (fewer cakes) and Producers receive less (they sell fewer cakes) - the result is deadweight loss. This is a very BASIC example of a much more complicated subject - intended as an INTRODUCTION to the subject in a Principles class for NON-Majors. We followed up with more in-depth work with the graphs - labeling and calculating values - and a discussion of the effects of elasticity on the shared tax-burden, etc... Nevertheless, this demonstration got the ball rolling in the right direction.
Views: 136 Steve Oberg
Producer surplus | Consumer and producer surplus | Microeconomics | Khan Academy
 
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Looking at the supply curve as an opportunity cost curve. Understanding the producer surplus as the area between the supply curve and the market price Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/microeconomics/consumer-producer-surplus/deadweight-loss-tutorial/v/rent-control-dead-weight-cost?utm_source=YT&utm_medium=Desc&utm_campaign=microeconomics Missed the previous lesson? https://www.khanacademy.org/economics-finance-domain/microeconomics/consumer-producer-surplus/consumer-producer-surplus-tut/v/total-consumer-surplus-as-area?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: 298028 Khan Academy
Deadweight Loss in Monopoly
 
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Prelim Requirement in Sir Arnold Buck's Economics Class-- Created using PowToon -- Free sign up at http://www.powtoon.com/youtube/ -- Create animated videos and animated presentations for free. PowToon is a free tool that allows you to develop cool animated clips and animated presentations for your website, office meeting, sales pitch, nonprofit fundraiser, product launch, video resume, or anything else you could use an animated explainer video. PowToon's animation templates help you create animated presentations and animated explainer videos from scratch. Anyone can produce awesome animations quickly with PowToon, without the cost or hassle other professional animation services require.
Views: 9 Mo Due
What is DEADWEIGHT TONNAGE? What does DEADWEIGHT TONNAGE mean? DEADWEIGHT TONNAGE meaning
 
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What is DEADWEIGHT TONNAGE? What does DEADWEIGHT TONNAGE mean? DEADWEIGHT TONNAGE meaning - DEADWEIGHT TONNAGE definition - DEADWEIGHT TONNAGE explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. SUBSCRIBE to our Google Earth flights channel - https://www.youtube.com/channel/UC6UuCPh7GrXznZi0Hz2YQnQ Deadweight tonnage (also known as deadweight; abbreviated to DWT, D.W.T., d.w.t., or dwt) or tons deadweight (TDW) is a measure of how much mass a ship is carrying or can safely carry; it does not include the weight of the ship. DWT is the sum of the weights of cargo, fuel, fresh water, ballast water, provisions, passengers, and crew. DWT is often used to specify a ship's maximum permissible deadweight (i.e. when she is fully loaded so that her Plimsoll line is at water level), although it may also denote the actual DWT of a ship not loaded to capacity. Deadweight tonnage is a measure of a vessel's weight carrying capacity, and does not include the weight of the ship itself. It should not be confused with displacement (weight of water displaced) which includes the ship's own weight, nor other volume or capacity measures such as gross tonnage or net tonnage (or their more archaic forms gross register tonnage or net register tonnage). Deadweight tonnage was historically expressed in long tons but is now usually given internationally in tonnes (metric tons). In modern international shipping conventions such as the International Convention for the Safety of Life at Sea and the International Convention for the Prevention of Pollution From Ships, deadweight is explicitly defined as the difference in tonnes between the displacement of a ship in water of a specific gravity of 1.025 (corresponding to average density of sea water) at the draft corresponding to the assigned summer freeboard and the light displacement (lightweight) of the ship.
Views: 111 The Audiopedia
Understanding Dead Weight and Volume Metric Weight (Hindi)
 
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Dear Friends IN THIS VIDEO WE HAVE EXPLAINED ABOUT Dead Weight and Volume Metric Weight. Please do not forget to subscribe to this channel as you will get lot of videos about eCommerce, marketplaces,business idea ,marketing and sales , business management ,Also do not forget to like this video if you have liked it. Thank you all
Views: 501 Business Guruji
Tax Incidence
 
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What happens to consumer and producer surplus when the government imposes a tax? Both consumers and producers are burdened with this tax. Consumer and producer surplus will decrease. The money that goes to the government from both consumers and producers is called tax revenue. As a result of this tax there will be dead weight loss (dwl). Both quantity demanded and quantity supplied will decrease from it's market equilibrium starting point.
Views: 3720 Chris Thomas
Consumer surplus introduction | Consumer and producer surplus | Microeconomics | Khan Academy
 
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Consumer surplus as difference between marginal benefit and price paid Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/microeconomics/consumer-producer-surplus/consumer-producer-surplus-tut/v/total-consumer-surplus-as-area?utm_source=YT&utm_medium=Desc&utm_campaign=microeconomics Missed the previous lesson? https://www.khanacademy.org/economics-finance-domain/microeconomics/consumer-producer-surplus/consumer-producer-surplus-tut/v/demand-curve-as-marginal-benefit-curve?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: 336767 Khan Academy
What is MARKET POWER? What does MARKET POWER mean? MARKET POWER meaning, definition & explanation
 
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What is MARKET POWER? What does MARKET POWER mean? MARKET POWER meaning - MARKET POWER definition - MARKET POWER explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. In economics and particularly in industrial organization, market power is the ability of a firm to profitably raise the market price of a good or service over marginal cost. In perfectly competitive markets, market participants have no market power. A firm with total market power can raise prices without losing any customers to competitors. Market participants that have market power are therefore sometimes referred to as "price makers" or "price setters", while those without are sometimes called "price takers". Significant market power occurs when prices exceed marginal cost and long run average cost, so the firm makes economic profits. A firm with market power has the ability to individually affect either the total quantity or the prevailing price in the market. Price makers face a downward-sloping demand curve, such that price increases lead to a lower quantity demanded. The decrease in supply as a result of the exercise of market power creates an economic deadweight loss which is often viewed as socially undesirable. As a result, many countries have anti-trust or other legislation intended to limit the ability of firms to accrue market power. Such legislation often regulates mergers and sometimes introduces a judicial power to compel divestiture. A firm usually has market power by virtue of controlling a large portion of the market. In extreme cases—monopoly and monopsony—the firm controls the entire market. However, market size alone is not the only indicator of market power. Highly concentrated markets may be contestable if there are no barriers to entry or exit, limiting the incumbent firm's ability to raise its price above competitive levels. Market power gives firms the ability to engage in unilateral anti-competitive behavior. Some of the behaviours that firms with market power are accused of engaging in include predatory pricing, product tying, and creation of overcapacity or other barriers to entry. If no individual participant in the market has significant market power, then anti-competitive behavior can take place only through collusion, or the exercise of a group of participants' collective market power. The Lerner index and Herfindahl index may be used to measure market power.
Views: 2755 The Audiopedia