Sir, you just got me ready for my final next week in a big way on this exact topic. On point at the highest level.
@odinponzi92247 жыл бұрын
Hungry for Apples
@asifhussain81685 жыл бұрын
Sir plz made video in case of inferior good when their prices rises
@suggestmeagoodname87783 жыл бұрын
Great explanation sir, Respect from Nepal
@gconomics37663 жыл бұрын
Glad it was useful.
@suggestmeagoodname87783 жыл бұрын
@@gconomics3766 I found price effect in case of inferior goods on your channel but not in case of giffen goods. If there is any send me one please . I love your explaination and I can't understand in others.
@gconomics37663 жыл бұрын
@@suggestmeagoodname8778 Thanks. I haven't recorded a video for giffen goods. I'll try to record a new one in the coming weeks.
@suggestmeagoodname87783 жыл бұрын
@@gconomics3766 Ok sir thankyou
@michaelaustin14696 жыл бұрын
your illustration makes it seem like the income effect outweighs the substitution however in the case of a normal good the sub effect should overpower the negative income effect
@gconomics37666 жыл бұрын
Not the case, Both goods are normal, and the income and substitution effects work in the same direction. In other words, when the price of apples increases, both income and substitution effects reduce the consumption of apples.
@michaelaustin14696 жыл бұрын
thanks sorry for the delayed response however what is the case for a giffen good
@sobiajavaid60646 жыл бұрын
Sir how do we know that which point is best affordable on a budget line?
@gconomics37666 жыл бұрын
sobia javaid this analysis enables you to identify the point at which utility is maximised from a given income/budget - we are trying to highlight where utility is maximised as opposed to which basket of goods is most affordable.
@MahzabinOyshee-hr2kv9 ай бұрын
Bro just saved my life
@omareldeeb6163 жыл бұрын
good day, I am always finding difficulty knowing where to place the optimal bundle (point B). For example, why would point B not be slightly higher or slightly lower on IC1? In my textbook, point B is between points A and C as opposed to being lower than both of them. So my question is how do we know where to plot point B? Any help would be much much appreciated. Thanks for the wonderful video
@gconomics37663 жыл бұрын
In order to show that both the income effect and the substitution effect reduce the demand for good X (apples), B will appear between points A and C in most textbooks.
@omareldeeb6163 жыл бұрын
@@gconomics3766 thank you
@vitoscaletta14576 жыл бұрын
that was so helpful but tt sound effect after e video brain washed everything .
@ayeshaquratulain1554 Жыл бұрын
From where can we get this book free online ?
@melisamoen9676 жыл бұрын
great explanation. thank you!
@Sofia-hs1vu3 жыл бұрын
Hi sir, may you please tell me the mpact of an increase in indirect taxation on the quantity demanded of a good depends on whether it is a normal or inferior good
@mikegee24196 жыл бұрын
Thanks sir🤗
@cassiemusongo8824 Жыл бұрын
Thanks a lot
@gconomics3766 Жыл бұрын
No worries!
@parthk4966 жыл бұрын
Sir but when the price of the apples rises, why BL2 will be drawn inside of Initial BL1??
@gconomics37666 жыл бұрын
Parth Khedekar if the price of apples rises then the maximum number you can afford to buy falls.
@parthk4966 жыл бұрын
Just like in Demand ri8?
@gconomics37666 жыл бұрын
Parth Khedekar yes, except it pivots rather than shifts because the price of cola hasn’t changed, therefore, the same amount of cola can still be bought.
@spacees1234 жыл бұрын
Hi, what if the income decreases as well?
@zahraakhodabocus42746 жыл бұрын
This really helped me, thank you.
@gconomics37666 жыл бұрын
Super!
@drakewilliams10dw7 жыл бұрын
Thank you for the lecture
@danielmusonda54663 жыл бұрын
👏👏
@halifauthman79826 жыл бұрын
Good lecturing
@amirahmarday26554 жыл бұрын
Hi sir, can you upload a video for a price increase for a giffen good?