I'm listening to you, to learn something new.
Show me everything and tell me how
micro policy affects the economy. 
I can see there's so
much to learn It's all so close and yet so far.
Let's start with the concept of price
ceilings a legal max price below equilibrium!
I wanna know, 
can you show me 
I wanna know
about micro policy. Tell me more, please show me
excise taxes and subsidies. 
One thing to
know, about excise tax that the government
imposes to raise money or stop consumption
of harmful goods. 
If demand's inelastic, consumers pay
and quantity demanded stays the same.
But if it's elastic, producers pay and quantity
demanded decreases! I wanna know, can you
show me,
I wanna know about micro policy.
Elasticity, sloping, sensitive, changing.
Show me, buyers, just how much you respond to change in price
The change in ratio
affects buyer to buyer. 
Over, sideways and under in elasticity.
A whole new world, a new elastic
point of view 
what is the ratio, how does it show
price impact on total revenue? 
An elastic world, a sensitive place I never knew.
But when I see this graph, it's not hard to
grasp 
that now I'm in an elastic world with you.
Unbelievable slopes, indescribable fractions,
rising, falling, fluctuating in an endless demand curve!
An elastic world (Don't you
dare change your price) a luxury product (Hold
your breath, save your income). I'm like a
falling star, my change is clear 
I now know the graph of elasticity.
How do you know what
to buy? 
What goods and services will you choose?
There's so many different things that you
can buy. 
Be mindful or you'll blow your budget away.
How do you know what to buy? How do
I choose what I like?
Consumer choice relates preferences for consumption 
of both goods
and services. 
Based on your wealth you will purchase
a little bit every day! 
That's how
you know, that's how you know, what to buy.
Consumer theory's a way of analyzing
how consumers
may achieve equilibrium.
Between preferences and expenditures 
by maximizing utility! 
Well if he takes you out dancing just so he can hold you close,
which dance club will he choose?
Maybe it's cuz it's cheaper, or it's got really good booze? 
That's how you know, consumer
choice guides you.
