To earn a profit, businesses must increase your “consumer surplus” by giving you better products or charging you less money. Watch more with Dan Russell: https://www.youtube.com/watch?v=5xf_t... Russell, Dan. “Consumer Surplus” YouTube. YouTube, 22 June 2017. Web. https://www.youtube.com/watch?v=mOzgm... .SUBSCRIBE: http://bit.ly/2dUx6wg LEARN MORE: Explaining The Concept Of Consumer Surplus (article): Michel Kelly-Gagnon argues that anti-smoking activists overlook smokers’ consumer surplus. http://www.huffingtonpost.ca/michel-k... How Much Would Be Lost if Uber Simply Went Away? (article): Economists have been able to calculate the amount of consumer surplus has been created by Uber. In this article, Tyler Cowen explains just how valuable Uber is to the American consumer. https://fee.org/articles/how-much-wou... What Is Subjective Value? - Learn Liberty (video): Consumer surplus would not exist if value were not subjective. In this video, Professor Don Boudreaux explains subjective value and why it’s so important in to economics. https://www.youtube.com/watch?v=AYuHU... TRANSCRIPT:For a full transcript please visit: http://www.learnliberty.org/videos/co... LEARN LIBERTY:Your resource for exploring the ideas of a free society. We tackle big questions about what makes a society free or prosperous and how we can improve the world we live in. Watch more at http://www.learnliberty.org/ .
Tagsconsumer surplus microeconomics consumer surplus formula libertarian liberty Institute for Humane Studies Learn Liberty Dan Russell Freedom Center