Consumer & Producer Surplus in Competitive Markets 📈

Hey internet! Thank you for watching my videos. Recently a student requested a lock of my hair. Weird huh? In this episode I talk about how competitive markets allocate resources and consumer and producer surplus. I also talk about inefficiency and deadweight loss. Make sure to practice calculating CS, PS, and DWL. Let me know if you think I should give this guy my hair.

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The answers to the practice multiple-choice questions are below.
1. A
2. B
3. C