Thank God for Khan Academy. my uni econs teacher is absolutely of no use

I spent so many days trying to understand my professor`s presentations... This video is amazing!

I felt so dumb when I couldn't explain perfect complements but now I still feel dumb but a lot more clear in the head thank you

my uni econ prof. spent half an hour trying to explain these while you only needed in five mins cool

Thank u sir...u really explained the perfect substitutes case very well..I always wondered why in every book and website they always give the example .. of 1:1 ratio..whereas it can be any fixed ratio....... thanks once again 🙏

hello khan academy I have some questions about micro economic I like the teaching method of you can u tell me is there any difference b/w kinds of indifference curve and properities of indifference curve , and consumer equilibrium of equi marginal utility and equi marginal utility

SO MUCH BETTER THAN MY PROFESSOR AND TA COMBINED

i so so jealous of this guy's voice... when i try to sound like morgan freeman i end up sounding like megan fox ..wtf

Thanks so much! Your vids really help me understand my homework! =)

Khan academy has made life easy. Thank you

"quantity of Raichu's" hahahaha @4:22

Sounds like the person who makes tutorials on VB...well done, thanks teacher.

thanks for the vid ! it really helped me

Absolutely helpful

I LOVE KHAN ACADEMY!

Great video!!!!

Thank you, loved the m&m example haha

Seriously you're putting it now when my econ exam is tomorrow? Dam... :)

would a close substitute curve for 2 goods be the same as the curve for normal goods?

How does the MRS change as we move to higher utilities in the normal good case? Are in general the curves associated to higher utility flatter?

Thanks bro Very useful

I thought he said "the quantity of Raichu's" and got rather excited to see where he was going with that xD

@davidhenry8658

6 жыл бұрын

calm down goof

What is the elasticity of perfectly subtitutes indifference curve ?

Khan, do a video on SOPA!

@sveinntryggva You are correct if you are thinking that the value of y $10 bills is equal to trice as many $5 bills-- but that is not what we are talking about here. Sal has it right for describing points we are indifferent between: the line he drew was y=10-2x. At x=0,y=10 you have $50, and you also have $50 at (2,9), (4,8), etc. with a slope of -2, willing to trade 2 x for 1 y.

" I should have dine red M&Ms from red" how thoughtful :D

How do you make an indifference curve for a product that has 4 parameters to it?

i love this contain ❤❤❤❤❤❤❤❤❤❤

and this is the quantity of squirtles :D

nice work professor!

Thank you 😊

@attilapocsai3157

7 жыл бұрын

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Under perfect compliments, why wouldn't the indifference curve have a slope of 1? That way the x and y would always be equal. With the right angle indifference curve, it looks like it could be 1 right shoe and 2 or 3 and so on left shoes.

@MehakpalSinghJosan

6 жыл бұрын

Editor Edited It 1.5 right shoes for 1.5 left shoes? Haan????

tq

Can you explain indifference curve for two goods that provide utility only upto a certain level beyonf that level they provide no utility???

For perfect substitutes, is the marginal rate of substitution (IC) constant or -1?

Not to hate on my economics teacher, but I've always understood everything better from you than from her.

i saw this in class

pokemon go - RAICHU !!!

Havent heard someone say m&ms so much

Saying that these are "Normal Goods" in the first graph is incorrect. One of them might be an inferior good, especially with the way you drew them- higher budget, lower x. Inferior. You mean "the common case", but not "Normal Goods".

In 4:22 I thought he said "Raichu's" when he said "Right Shoes", lol.

left shoes and right shoes classic example just like my professor, that has a lot of assumptions like you have two legs. hahaha

Why are indifference curves important? Their objective is to show that goods trade according to rules or patterns. Why does that matter? Econ theory proposes a kind of trade pattern, the resolves to a math equilibrium. Purely deductive. But caution: deduction is axiom based. What are the axioms here? If you have a lot of one "normal" good, and a little of another, you give a lot up to get a little. Now think: food, clothes, transport, etc. You have many shifts, one pair of pants.

@hedonism13 He did

I'm afraid graph no2 is incorrect. Y=10$bills; x=5$ bills = y=2x would be the right function, but your plot suggests that 0 units of 10$ bills equals 2 units of 5$ bills. That would be a poor tradeoff :)

According to this hypothesis, if you have many shirts and few pants, you'll trade a lot of shirts for one more pair of pants. Would the person you trade with ask for more shirts, when you show up at a market? Without special knowledge, they can't tell if you have 1 shirt or 50. Further, if normal goods are common, you'd need to be a mental wizard to figure your point on all those simultaneous curves. If my one pair or pants is torn, II need to buy another pants, and be willing to pay more.

What about when one good is a superior version of another?

@sabedi2129

2 жыл бұрын

Maybe a bit late, but then the marginal rate of substitution would just be higher. (You would need 5 more of the less superior good to trade of one of the superior one)

Quantity of " i dunno" LOL.. :D

what does pikachu kick a ball with?.... his raichuu... hehehe goodbye

ooooooo

But this is not "marginal", rather it's at the extreme. Once I've got pants on, I'll use my regular consumer skills to purchase more, whether #3 or #6. Once over-supplied with pants, then my attitude changes,. and I only buy great deals, perhaps. But this is again at the extreme, not at the margin. This isn't a curve; it's a step function. Sensible, probably easier to test. But it doesn't have a single equilibrium. Guess what - that's why it's a curve.

there is a problem with turkish