Marginal Analysis and Consumer Choice- Micro Topic 1.6

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Marginal Analysis and Consumer Choice- Micro Topic 1.6

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Күн бұрын

Want to know the longest wait time? Scroll to the bottom of this description to find out.
Hey students. This video is designed to help you calculate and apply marginal utility and marginal utility per dollar. Many teachers and professors ask questions that require you to determine the utility maximizing combination with two goods. Be sure to try the practice free response question below as well as the study guides in my Ultimate Review Packet. Thanks for watching.
Practice Question with Answers: goo.gl/arwNno
Economics of Disneyland: goo.gl/xyZDuR
According to my research, the longest wait at a Disney theme park was 7 HOURS for Guardians of the Galaxy- Mission: Breakout! What do you think? Let me know.

Пікірлер: 389

@JacobAClifford 6 жыл бұрын

Guess how long the longest wait time was at a Disney theme park? The answer is in the description above.

@spoonfullanutella1620 6 жыл бұрын

I am currently studying Micro economics and your videos help me a lot to understand all the concepts I cover in school. Can you please make a video on Consumer Equilibrium?

@skyflakesbasilio8561 6 жыл бұрын

Do you have a lesson of natural resource market? & Environmental policy?

@skyflakesbasilio8561 6 жыл бұрын

Pls help ❤

@lavidaviva8014 5 жыл бұрын

Jacob Clifford Hi Dr. Clifford, I bought your review packet, but some pages in the packet I just can’t print them out, I don’t know why.

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hope I had an economics teacher like you. you are the best economics teacher i ever seen

@17Koche 5 жыл бұрын

writing my economics exam tomorrow gives me -50 utils

@jaydjr.3759 4 жыл бұрын

U mean a UTIL between 90 -- 100

@sircookieknight8566 Жыл бұрын

literally

@DaCatsCrazyQuartet Күн бұрын

I’m also taking an econ test tomorrow 😢

@kingofbirbs5705 5 жыл бұрын

3:18 Mr. Clifford: "This is worth at least 50 utils" Guy in the next cart: "wtf?"

@larrymee1484 5 жыл бұрын

I'm a first year Econ student and that honestly had me laughing my ass off!

@karanparajia5879 4 жыл бұрын

@@larrymee1484 same which university? 😂

@yahyamotara7590 3 жыл бұрын

@@karanparajia5879 Oxford. you?

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@joemubusisi5638 3 жыл бұрын

@@yahyamotara7590 Havard

@wepranaga 6 жыл бұрын

you're so brave. talking about economics in disneyland. props 👏👏👏

@rayyanyusuf7849 5 жыл бұрын

amen

@Megaritz 2 жыл бұрын

The logistics of navigating the complicated queue system to optimize one's returns, both by the park designers and by the consumers, are also quite interesting. This is discussed in Defunctland's "FastPass" video.

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@pruthasiras7351 2 жыл бұрын

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@vinnieraps 2 жыл бұрын

Man I love Jacob Clifford. Had a class with my lecturer a few weeks ago but I found it hard to understand the Marginal utility concept, been trying to study and understand it better but I still couldn't grasp it. Thanks to this video I now understand this topic. Need to take this guy to Disneyland as a reward for his lessons.

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2024 and still finding his videos very much helpful

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Thanks Abdullahi. I appreciate it

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@shaanshaikh7057 Жыл бұрын

ONE OF THE BEST TEACHER I FINALLY FOUND ON KZfaq. THE WAY YOU ENCOURAGE TO VIEWER TO DO THAT FIRST IS THE MAIN RECIPE OF THIS VIDEO BECAUSE IT HELP ME TO UNDERSTAND IT MUCH BETTER

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@nyx_bts4992 4 жыл бұрын

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@leongrenyion9548 2 жыл бұрын

Technology enables us in The United States to learn access our learning and to do lectures at anywhere and anytime. Finally, I just wanted to say, this video is awesome. I learned a lot from it. Thank you to my school Broward College, Mr. Clifford, and God bless America.

@xt_richyoungin707 5 ай бұрын

This video is from 5 years ago but it still is relevant and helping, all your videos by the way, love your work Prof. I got enough satisfaction from this, 50 utils (in Econ language) hahaha!

@meem524 4 жыл бұрын

my professor didn't even bother to discuss this part and gave us this link lol HUGE THANKS to jacob for being a life saver. Your channel gives me infinity utils the day before exam

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I wish this mans was my father. Truly makes Econ fun and is a great teacher

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Mr Clifford: Sweetie why are you walking so far behind me? Daughter: Because you keep yelling about utils on every ride dad!

@zacharychristian6436 5 жыл бұрын

Man I went to my college lecture on this, read the chapter, and looked over the powerpoint and still had a shaky understanding of this concept. But after I watched this 10min video I got it intestinally. Thank you!

@jewelforgenie7115 5 жыл бұрын

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Aye, I completely self taught myself AP Micro in a span of like... 3 weeks using your videos and livestreams prior to the exam last year and got a 5. Thank the good lord for your vids, and I'm looking forwards to doing the same this year for macro, albeit in perhaps more than 3 weeks time.

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@museyasmin 5 жыл бұрын

I wish my professor was so motivated two years ago. He still tried to give us ice cream and wine examples but that's the most exciting it got... And trust me, 4 hours with a guy who's falling asleep himself are not very informative. Now I'm writing this comment two days before my retake exam. Seriously, thank you for putting so much effort and fun into your videos!

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@alexcantin2246 3 жыл бұрын

How is that going?

@Smeckless 3 жыл бұрын

@@alexcantin2246 hahaha sooo I was doing a 2 majors, one in Economics and one Accounting (stupid idea). I really struggled to learn economics with my lecturers not willing to go into detail about the topics. I found I was just naturally better at accounting instead and although I enjoyed economics I was spending way too much time due to the lack of teaching provided and not doing very well. So in the end i dropped economics and have nearly graduated with a very high average in accounting.

@alexcantin2246 3 жыл бұрын

@@Smeckless Congrats man that's big. If you don't mind me asking, what college do you go to? I want to make sure the schools I'm applying to have good econ teachers.

@Smeckless 3 жыл бұрын

@@alexcantin2246 Thank you!!! I go to the University of Wollongong it's in Australia but it sounds like you might be from the US so that's not really helpful to you. Anyways Im sure you'll go to a good school just do lots of research. good luck!

@alexcantin2246 3 жыл бұрын

@@Smeckless Yeah I am from the US. Either way, thank you. Good luck in accounting!

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I scored 5/7 for the test. I had some trouble understanding questions B and C. Thank you for the great videos they are a great help.

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@marissasuezann6099 4 жыл бұрын

Thank you for posting this video about Economics. I understood it way better with the Disney theme park example than I did in class when it was taught to me. Economics is really hard for me and this video helped me so much!!

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you really got me when you said the total utility was 538 and I got 290

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@hudanur1707 8 ай бұрын

Is there someone to explain question d ? because when the combination 3 units of x and 4 units of y, MUx/Px does not equal to MUy/Py

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Who else thought Jacob himself was in that rollercoaster video?

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@assil110 3 жыл бұрын

Mux/px = Mux/py is the FOC when you are maximization a continuous utility function, but when we are in a discrete world, it is not always true. You can end up optimally choosing x units of good X and y units of Good Y, where Mux/px and Mux/py are different, yet you are still choosing the first best solution!

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@kennyhill9238 5 жыл бұрын

I need to make a list off my Total Utility and Marginal Utility when it comes to drinking.

@abands5082 3 жыл бұрын

Don’t forget marginal utility per dollar 😂😂😂😂

@besaru5103 Жыл бұрын

Sir, you are a true legend. My respects to you!

@hudanur1707 8 ай бұрын

Can you explain question d, please ? because when the combination 3 units of x and 4 units of y, MUx/Px does not equal to MUy/Py

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Wow man, am studying Econ and got a lot confuses. After watched your video, everything become easier and make sense!!! Nice illustrator.

@curiousgeorge3911 2 жыл бұрын

i did the practice and after catching my mistake before i checked my work, I got all of them right!

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@hghg46204 5 жыл бұрын

Just some food for thought: Lets say that our good is shoes and more specifically 1 shoe at a time. Buying one shoe would give you some utility. Of course, having one shoe is fine but most people stand on two feet. When you buy the second shoe, your marginal utility greatly increases because with 2 shoes would complete the pair and thus give you more satisfaction than one.

@arjunsrivastava5334 Жыл бұрын

Your video are awesome ! Such clarity I got about the questions, just too good.

@Bekdawnrose 5 жыл бұрын

Your videos have saved my grades this year. Thank you!! Your an amazing teacher!

@erickpeterson6030 5 жыл бұрын

Great video Jacob. I teach Principles at the community college level and your videos are an awesome resource.

@vandnasobti7124 6 жыл бұрын

*Do I see myself being Jacob Clifford in some years? Well, h e l l y e a h*

@panashevengesai223 5 жыл бұрын

I LOVE YOU MR C...Wish i'd met you sooner...you actually make learning fun

@lujainalsharif 5 жыл бұрын

thank you so much you helped me a lot to understand economics 🙏🏼

@cimpo327 2 жыл бұрын

7:34 at this right moment you have the ability to choose between 10 more Utils but wouldnt it be wise to choose the 10 Utils from the ride that costs only 2$ first? you get same Utils at a cheaper ride

@YNZADistributors 5 жыл бұрын

You make Micro fun ! thanks for the test - got 7/7

@desreeisibor5855 4 жыл бұрын

nahhh ! you inspire me!!! YOUR ENTHUSIASM GETS ME!!!

@Stuffingsalad 5 жыл бұрын

I kind of understood this before but now even more. This vid is baller

@smirkymines3819 6 ай бұрын

Mr. Clifford, you have "watchig" in the description instead of "watching"

@JacobAClifford 6 ай бұрын

Thank yuo :)

@zanelemofikoe2374 5 жыл бұрын

Thank you so so much, writing an exam tomorrow - and this makes so much sense

@hermes112 Күн бұрын

bro he gave me a heart attack at 8:12 man that was good

@vishwashmishra1823 5 жыл бұрын

You make economics look so easy sir. It Was a great video.

@someone8245 3 жыл бұрын

I love you Mr MicroEconDaddy

@Sketchylemons 4 жыл бұрын

you are a gift to humanity

@ParadoxicalBry 3 жыл бұрын

"this is worth at least 50 utils" lmao thanks for getting me to laugh while studying

@LooNciFeRx 4 жыл бұрын

You are really good at explaining!

@markjason9323 6 жыл бұрын

Great material. I used it to study for my test. Maryland

@awikajane6547 5 жыл бұрын

This video can help me from my midterm exam 🙏🏼😭

@collinwelke1240 3 жыл бұрын

At 7:55, wouldn't you be able to get 2 more Utils/$ if you rode the roller coaster 2 times and the rockets 4 times, rather than 3 and 2 as explained?

@pigwartisubscribeback8198 4 жыл бұрын

thanks big man cliff. you didnt mention consumer surplus but its pretty basic. hopefully i study this class in 2 days and get a 5 on Wednesday!!!!!!!!111