Equilibrium in Economics: How a Supply and Demand Graph Dot Explains Producer and Consumer Surplus

Transcript

♪ [music] ♪ - [Alex] Welcome back. Every supply and demand graph features a humble little dot in the middle. Let's call it "equilibrium." And in this video, we're going to explore equilibrium, and how a free market maximizes the gains from trade. We showed in an earlier video that at any price above the equilibrium price, there's a surplus, and the... Read More