Price Ceiling: Consumer Surplus, Producer Surplus, & Deadweight loss

This video shows (using equations and graphs) how to find consumer surplus, producer surplus, and deadweight loss from a price ceiling. Two extensions are given at the end of the video that show consumer surplus is overstated in the basic presentation of a price ceiling: 1) assumes consumers who buy the product have random valuations for it, and 2) assumes producers can charge under-the-table payments.