For the calculation A to E, the price(x) of A is 10 instead of 20.

The examples you give and the way you explain it makes it so easy for me to study for my exam in Microeconomics. Thank you!!!!!

Wow..I was having trouble calculating the MRS until I saw this video. This clip explains so easily how the calculation works! Thank you so much :-D

So you're awesome! Thanks for the help. my teacher spent around 30 minutes trying to explain this to class but I fully understood you all the way! Thanks a lot! +1

Just to enquire, @ ~4:40, shouldn't A to E be 60 - 40 / 10* - 60 (instead of 20 - 60) because point 20 is for B, not A?? (Nice vid nonetheless...

You are very welcome!!! Make sure you like MyBookSucks on FaceBook (see link in video description). This will help others find the educational videos.

The official tag line is "party more study less" I really hope to free up students so they can do what they love (other than study). Make sure you like MyBookSucks on FaceBook (see link in video description). This will help others find the educational videos.

This is extremely helpful!! Thank you!!

Very good tutorial. Thank you!

Right, but the reason for the second indifference curve is to demonstrate the slope of a line. It is not to suggest that the same consumer has intersecting indifference curves. I do have a new version of this same video and an entire playlist on consumer theory that I would encourage to watch. There are links to these in the video description.

Greatly Explained 👌👌

simple and understandable very nice friend.........

Easy to understand, but from A to E, x is like from 10 to 60

dude this guy is awesome! why didn't I find him sooner.

wow!! that was really easy :) thanks

Good question. A and D are really inverse of each other. If you graphed the slope (MRS) at each point from A, B, C, D you would see a step line (positive slope) that gradually flatness out (at some point be zero) then it would turn downward (negative). Makes Sense?

thanks that was very well explained !

Tq for ur explanation, it helped me a lot

Why the utility of a,b,c are the same?? Also, is that supposed to be 10-60? When A to E? △ X.

@CaMoyBepeH Not sure how to respond because it seems like you missed the first 30 seconds of the video telling you there is a newer version available.

Good question and I can see why you are confused. Marginal Rate of Substitution is the slope of the indifference curve. Slope is rise (change y) divided by run (change in x). You will see MRSxy = - (dy/dx) You may be confusing this Marginal Utility and Marginal Rate of Substitution and is written as MRSxy = MUx / MUy. I just added a link to a video (in this video description) where I describe the differences. Don't be intimated by the calculus and I would encourage you to watch it.

thanks .it helps me a lot!!!!

party more study less??? thats what gotten me in this mess in the first place

excellent video is a shame that my professor don't try to teach me and my classmate like this.

Very good

Yes, I also noted that error regarding A to E - no big deal, he must have overseen it coz it`s a to simple example for him.

You said concave... it's actually convex to the origin.

this helped a lot thank you! 🍉

Thank you for this great video! At the very beginning you say that there is a complicated way to do indefference curves for more goods than just x and y but then you dont talk about it because it is off topic, obviously. Yet I am curious. what do indifference curves with three goods look like? How can one express that idea?

sorry, but indifference curves cannot cross. other than that, thanks for the videos ;)

Yes that would be correct.

Why is it the change first point minus the second point. Shouldn't change be the 2nd point minus the first point?

@mikemmoon Yes, absolutely - I also woundered a bit first!

great!!!

Why is the utility the same at points a b and c ? How ?

How does the MRS differ at A and D on the diagram? How can this be shown diagrammatically?

Wandafull

indifference curves are not budget constraints. budget constraints are always tangent to indifference curves. they touch, but it does not mean that the indifference curve is the budget. You may have unattainable indifference curves that may be obtained with an increase of income or decrease in prices. hope that helps.

when you move to flatter curve from point a to e, the distance in the denominator is from 10 to 60 and not from 20 to 60. please check.

How did he come to the conclusion that the consumer values y more than x at 5:06

U said indifference curve are concave, are they not convex?

"party more and study less" lool, that`s the last thing I expected to hear!

@ilieklolcatz I use a combination of a lot of different software (Flash, Final Cut, Keynote, Soundtrack pro, garage band). It is done on an Apple (computer)

how do you calculate the MRS if there are no values given

Is the function concave or convex

Awesome party more study less haha:-)

Indifference curves cannot intersect. If they did then point B would yield the same level of satisfaction as E which isn't true

Why is it that the MRS answer is not negative?

Great info, but the video did not make me feel like partying... more alike as I was being forced to watch Bingo with my grandmother. You have to speed up a bit, maybe give more i.r.l. or concrete examples, otherwise thanks! 💪

WHEN FINDING DIFFERENCE, WE SUBTRACT INITIAL POINT FROM THE FINAL POINT, TO AVOID CONFUSION OH HOW TO AVOID NEGATIVE SIGN. AND ALSO, THE POINT A- E WOULD BE 10 - 60. WHEN FINDING THE DIFFERENCE, 60-10=50.. AVOID NEGATIVE SIGN..

i was taught that indifference curve do not cross

iNDIFFERENCE CURVE ARE CONVEX...

It is convex to the origin not concave. He made a mistake.

X has to remain same unit of change

This is really helpful! Thank you!