Micro: Unit 2.2 -- Utility Maximization

Hey Everyone! I'm Mr. Willis, and You Will Love Economics!
In this video, I will:
- Explain the process by which consumers choose the utility maximizing combination of
goods
when faced with an income constraint
- Practice calculating the marginal utility per dollar (MU/P) for every unit of a good and then
evaluate how to spend a limited income to maximize utility
- Demonstrate how a consumer will determine the number of units to purchase
until all disposable income is spent and utility has been maximized (MU/Px = MU/Py)
- Discuss how consumer decision-making and purchases will change if product prices and
income level change
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[@nguonchhaysong5580]

I got a microeconomic exam tomorrow but i skipped class on this one so you blessed me haha, thanks you

[@lukeshen8301]

Thank you so much. You've proved that subject expertise =/= teaching ability.

[@margravekevin7765]

I'm here trying to salvage whatever I can in my microeconomics class...

[@taneahaleciaklass8505]

Felt🙌🏽

[@lesley.l.goodson]

What a great channel. Thank you!!

[@ragibishraq6425]

Thank you so much sir, your explanations actually are very clear and to the point👌

[@fatinistiaque5892]

Very well explained 💖

[@nyeletipraisemakhubele3017]

thank you very much well understood

[@musaa.olarray6456]

Thanks for the splendid explanation, but is their mathematical way of doing this?

[@nahianfarabi5160]

this saved my life

[@kayod6611]

I understand this, but when my lecturer explained this he didnt use a table so i was kinda confused. Thanks.

[@zaramobeen6646]

THANK YOU BLESS YOUUU

[@mahwishmahmood2905]

Like for example,
There is a one percent increase in income, how much the utility will increase???
Please answer

[@zebaali2529]

Why everytime that a consumer maximises its utilty, the MU per doller spent on Good A equals MU per dollar spent of Good B. Because even if it is not equal i will not consume more as my income if over.

[@mahwishmahmood2905]

What if the consumer's income increases in percentage? Kindly answer

[@PeacefulKrahang]

Cool

[@lolubusi2022]

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[@villassopie4308]

shout sayo maam shen