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Lecture 13: Welfare Economics

Lecture 13: Welfare Economics

This video was recorded at 14.01SC Principles of Microeconomics, Fall 2011. When changes occur in a market—whether they are shifts in demand, shifts in supply, or government policies that interfere in the market's workings—they affect the welfare that market participants gain by virtue of being in the market. We can understand these changes by analyzing producer and consumer surplus, and this is the focus of this lecture.... Show More

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