How to calculate Total utility, marginal utility and weighted marginal utility

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Күн бұрын

This video illustrated how to complete a table of total, marginal and weighted marginal utility as well as how to find the consumer equilibrium in utility in microeconomics.

Пікірлер: 47

@Nahangoselly Ай бұрын

I used to get confused on the "mu" formula, but now I understand, thank u soo much ma'am

@NamakauZhinga 7 ай бұрын

I don't respond to KZfaq videos but this one I have too You have really saved my CA

@ollyedulearning 7 ай бұрын

Thank you...Much appreciated 👏

@j-man7994 2 жыл бұрын

Very helpful. Ms explained everything very well and clearly.

@natalianangula3359 2 жыл бұрын

very much Helpful, now I understand better. Thank you so much !

@ngaripuetjangura6294 Жыл бұрын

This was really very helpful ...thank you 👏 🙂 ☺ 👌 😊 👍 👏

@nobuhlemiya4280 Жыл бұрын

The explanation was good and clear😊😊😊

@simonvataleni6829 2 жыл бұрын

thank you so much, i wish you can be my teacher one day,, i have already subscribed

@patrickkatanga3918 Жыл бұрын

Good morning Madam, I really appreciate your video, thanks ones again.

@Sayda-yj8fy Ай бұрын

Thank you so much for this video ...... This video really helped me a lot .....😊

@ollyedulearning Ай бұрын

Most welcome 😊

@justyshimana4865 Жыл бұрын

This was very helpful. Thank you ms

@davidkalakpegbonimy3545 Жыл бұрын

thanks a lot you explained very well

@GamerGod-hq3ws Ай бұрын

Nice lesson

@wezichileshe1032 Жыл бұрын

Thanku you’re good at it

@tapiwadenzel4064 28 күн бұрын

thank you so much mam

@ntandoluphahla5620 Жыл бұрын

Thank you soooo much ❤️😭you literally just saved my degree

@ollyedulearning Жыл бұрын

Hi Luphahla....I'm glad my video was of help..plz subscribe and share with your colleagues. I will appreciate that🙏👏❤

@houstonulomi6720 Жыл бұрын

Thank you so much

@gabanthateemilymoliki7925 Жыл бұрын

Very helpful, if only I can understand the last part of equilibrium

@rundunaizer7024 2 жыл бұрын

Thanks again

@juliamarianajohnson3618 2 жыл бұрын

Very helpful! Thanks!

@kianabulanadi6070 2 жыл бұрын

Thank you so much po!!!

@ollyedulearning 2 жыл бұрын

You welcome Kiana😊

@gabanthateemilymoliki7925 Жыл бұрын

❤

@siphephiledlamini2970 Жыл бұрын

Thanks a lot for this video. It most definitely did help me. My question is, do we never consider weighted marginal utility that are not equal?

@ollyedulearning Жыл бұрын

Hi Siphephile Dlamini....Thank you for your comment. To answer your question, No if the marginal utilities are not the same we do not consider that as it does not meet the 2 conditions for consumer equilibrium or utility maximisation. 1. The budget is full spent on the 2 goods. 2. The weighted marginal utility for 2 goods are equal.

@siphephiledlamini2970 Жыл бұрын

@@ollyedulearning wow, thanks a lot.🙂😃

@strongestbelier_na8425 3 жыл бұрын

Thank you Miss

@ollyedulearning 3 жыл бұрын

You Welcome Hango

@wilkajoel5791 2 жыл бұрын

How will you calculate the weighted utility with the missing price?

@rithashintango5072 Жыл бұрын

How do we calculate or get Total Utility (TU ) when it’s not given ?

@ollyedulearning Жыл бұрын

Hi Ritha....Total utility is the sum of all marginal utilities...

@ALMA_iileka Жыл бұрын

Absolutely lovely 🫶🏽 clear explanation 🤌🏾

@clarksales4088 Жыл бұрын

What if the difference of quantity is not 1? For example quantities are not 0, 1, 2 but 2, 4, 7?

@ollyedulearning Жыл бұрын

@Clark Sales Thanks for the comment, It's safe to use the formula which is change in total utility ÷ change in quantity. Example: Quantity Total utility marginal utility 1 60 60-0/1-0 = 60 3 180 180-60/3-1=40 7 240

@crystalmillavanderbyl8173 2 жыл бұрын

What if it exceeds the budget?

@ollyedulearning 2 жыл бұрын

Hi Crystal milla Vanderbyl.....Thank you for your question We are looking for the optimal quantities that can be purchased using the available budget. Exceeding the budget will not be optimal because we can not afford such a combination. Take an example, You have $20 dollars only and that is your budget for apples and bananas per week. If one apple is $2 and one banana is $5. Now we want to find out the maximum number of bananas and maximum number of apples we can buy using $20. We can not afford to go beyond the budget. I hope i have answered your question.