Indifference Curves with goods and bads

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Indifference Curves with goods and bads

Рет қаралды 7,739

Күн бұрын

This brief video gives some intuition for how to draw indifference curves when some goods are actually bads. It is math free, but may still be helpful in some intermediate microeconomics courses. The video is meant to follow from my previous video where I show what an indifference curve actually is: • Where do Indifference ... .

Пікірлер: 32

@ria04466 5 ай бұрын

Thank you thank you thank you!!!! Now I finally understand how to draw ICs. No book, no video, no tutor made this as easy as you did.

@MattBirch 5 ай бұрын

Glad to help! Good luck!!

@koningsberg 5 ай бұрын

I was completely lost till i saw your video. How on earth more people didn't post a video about this. Thank you so much sir you explained the whole situation so well!

@MattBirch 5 ай бұрын

I am glad to hear it! Good luck!

@azhariyyyification 4 жыл бұрын

The use of the mountain reference helped so much!

@MattBirch 4 жыл бұрын

Good. Glad to hear it!

@melissayurinomurayamate3783 Жыл бұрын

Hi! Im a student from Brazil and this video helped me A LOT! Thank you so much!!

@MattBirch Жыл бұрын

Glad to hear it! Good luck in micro!

@satvik1162 4 жыл бұрын

thank you ! really nice way of explaining this topic

@MattBirch 4 жыл бұрын

Glad to hear it helped! Good luck.

@shyruti 4 жыл бұрын

Thank you, this really summed everything up!

@MattBirch 4 жыл бұрын

Glad it helped! Good luck!

@koningsberg 5 ай бұрын

Makes so much sense!!!

@khushisinghal2316 Жыл бұрын

Thanks a lot sir! This really helped a lot😊

@stellaunya5192 3 жыл бұрын

thank you so much

@MattBirch 3 жыл бұрын

My pleasure!

@nonthaprajunnaul4521 Жыл бұрын

Thank you😚😚

@MattBirch Жыл бұрын

Haha, my pleasure!

@mytinyw0rld 9 ай бұрын

What if x & y both are good upto a certain point

@mytinyw0rld 9 ай бұрын

What will be the shape of ic ?

@MattBirch 9 ай бұрын

Put the mountain on the good point and go for it!

@mytinyw0rld 9 ай бұрын

Didn't get it 😕 where should I put the mountain left side or right??

@MattBirch 9 ай бұрын

@@mytinyw0rldif both are good it will not be on either edge. Put it where utility is highest.

@michaelosei7901 3 жыл бұрын

what happens when you are indifferent to both items

@MattBirch 3 жыл бұрын

You tell me. Does utility ever change when we change consumption? What does that mean for the indifference curves that measure different levels of utility?

@michaelosei7901 3 жыл бұрын

@@MattBirch utility doesn't change since you are indifferent to both. I think the indifference curve here would be L shaped. Not sure

@MattBirch 3 жыл бұрын

@@michaelosei7901 if utility doesn't change then the whole graph exists on one level of utility. Your IC is not a single curve, but is just everything. Good luck!

@michaelosei7901 3 жыл бұрын

@@MattBirch so is it just a graph with no IC on it ?

@MattBirch 3 жыл бұрын

@@michaelosei7901 I would lean towards a giant square covering everything. All one level. I dunno though. I have never drawn one like that.