Introduction to Indifference Curves and Budget Lines Economics
Microeconomics, Managerial Economics, Indifference Curve, Budget Line Related Links: PlayList on Consumer Theory http://www.youtube.com/playlist?list=PL2D715…
Video Rating: 4 / 5
Microeconomics, Managerial Economics, Indifference Curve, Budget Line Related Links: PlayList on Consumer Theory http://www.youtube.com/playlist?list=PL2D715…
Video Rating: 4 / 5
Great video, everything is much clearer now. However, there is one point
that you make which I’m curious; “Utility is a *function* of consumption” –
I would argue that Utility be a *derivative* much moreover a function…
seeing as how a function is defined as a role or purpose in something
(noun), rather than the received happiness or satisfaction as you and I
would describe from the consumption (ie; eating a steak). Thank you for the
video!
REQUEST REQUEST ..can u please do a video on decomposition of price effect
into income effect and substitution effect for normal.inferior and giffen
goods
how can budget line be explained using indifference curve???!!!
Wow wat a grt lecture
I don’t often comment on videos, but yours are the best. Thanks!!
at 8.00 when you find the slope of the line, why does it equal to -1/2 not
-2. isn’t it supposed to be the change in Y over X (Y/X)?
very easy to learn by your lecture
Thanks, a great informative video but it was rather boring! There is such a
lack of enthusiasm and energy!
excellent vid mate !
Sorry, if you have any!
Wow! This is one of the easiest to follow lectures that I have ever
listened to! I had real trouble understanding this material and spent
nearly 5 hours trying to learn this stuff & you explained it and made me
understand it in 10 minutes. You are an excellent teacher! Please keep up
the good work.
What if I’m allergic to steak, and someone broke into my house and stole my
potatoes. Does that mean the budget line would shift to the left? Likewise,
if I was making a meal with potatoes AND steak, but then I burned the steak
on accident, and decided to peel the skin off the potatoes, would the
quantity demanded for potatoes move down the line since I can’t eat my
steak, even though I don’t like the skin so that partially lowers my
quantity demanded for potatoes?
thanks 🙂 helped lots with my ap studies
@ItsGJPA appreciate the positive feedback.
birds background. do you hear? 😀
OMG! Thank you so much, I just realized what I did wrong!!!! Thank
youuuuuuuuu……….
my university prof can SMD this is awesome (Y).
Irmi is a student with 11 euros to spend on two goods x and y. Her utility
function is u (x, y) = (x + 2) (y + 1) and the price of each of the goods
is 1 euro per unit. (a) Draw Irmi’s budget line and an indifference curve
for the utility level u = 36. Is it possible for Irmi to reach this utility
level? (b) Derive the conditions for Irmi’s optimal consumption plan. How
does this optimal consumption plan look like?
Excellent presentation.
wow… who would have thought that economics is ACTUALLY interesting Thanks
man, you are great! 😀 I wish I could replace my professor with you 🙂
Nice. Great video
@xcineguy101 haha! just stay focused on your studies.
Thank you very much. It helped to maximized my study satisfaction.
@MeLoveParisHilton Haha…yes, sometimes things can’t be explained by
economics.
Hello sir can you explain about calculating expected value and expected
utility , Jazakallah Khair..