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In this video I explain how to maximize utility given two goods that are perfect substitutes.

Shows how to determine optimal bundle in case of perfect substitutes.

in this video we will learn about the types of utility functions in economics that are Cobb-Douglas, perfect substitutes, perfect ...

Hi Everyone in this video I go through a practice problem where I solve for the optimal consumption bundle when we have perfect ...

Consumer Behaviour - Class 5 | Optimal Choice Under Perfect Substitutes Utility Function** Welcome to **The Supply Curve!

Exploring consumer theory, this video discusses 'perfect substitutes' in utility maximization under a budget constraint. Beginning ...

In this video I explain how to calculate the marginal rate of substitution given a utility function, including three step-by-step ...

CONTENTS 0:00 Introduction 0:19 Indifference Curves 3:06 The Optimal Point is on the Corner 3:54 The Corner and the ...

In this video I explain the concept of corner solutions as they relate to indifference curves in microeconomics.

In this tutorial, the private tutor delves into perfect substitutes' intuition, building upon previous problem-solving methods.

... utility and preferences helping explain how and why demand changes in response to price shifts perfect substitutes are goods ...

In this video, I introduce the utility function, a fundamental concept in microeconomics that allows economists to represent ...

This is an important result: perfect complements utility functions will always have a substitution effect of zero because the goods ...

His utility function over these two goods is given by b * t, where b is baklava and t is Turkish coffee. When the price of baklava is ...

Consumer Behaviour | Class 6 | Indifference Curve of Perfect Complement Utility Function** In this class, we dive into the ...

... came up with it first they really owe a great deal to both benem who focused on this idea of utility but also Ricardo who did focus ...

This is a full review of the concepts of intermediate microeconomic theory. It covers topics in consumer theory, producer theory, ...

... angle curve for perfect complements for this particular specification we can do the same thing for a Cobb Douglas utility function ...

In this video I have two exercises and demonstrate how to represent preferences with indifference curves and a utility function ...