Thank You for the clarification of the whole Intermediate Microeconomics class! We are studying on the Varian's book, and it is not clear enough. Watching your videos a night before the exam. I hope to be able to pass this course.
Hi, sorry if this is very basic info... but math is a LONG time ago (10 years) and I have to do these calculations now for a minor. Why is there at 12:33 the addition of the 2 in '2M/2Py' - in the final part of the formula for Y? I do not get where this 2 is suddenly coming from and cannot recognize it in the simplification. Thanks in advance!
Hi Simone - I did that so that both terms in the expression have a denominator of 2py, so that I can subtract them. If I multiply the bottom of the fraction M/py by 2, then I have to multiply the top by 2 as well to keep the value of the fraction the same. Once both terms have a common denominator of 2py, I can subtract the second term from the first. Hope this helps! Thank you for watching!
Note that for any set of preferences, there are an infinite number of indifference curves. Each indifference represents a different utility level for the consumer. The more to the northeast an indifference curve is, the higher their utility is. All indifference curves for a consumer will always be parallel to each other. In the slide at 6:29, the formula for each indifference curve is C = U - T/2, where U represents the consumer's utility level on each indifference curve. On the lowest one, the formula is C = 20 - T/2, and the consumer's utility is 20. On the next one up that is labeled, the formula is C = 30 - T/2, and the consumer's utility is 30. Hope this helps.
I assume you are working by hall varian book of intermediate microeconomics because order of the lessons is the same.Thank you so much for your work your lessons are really helpfull.Please continue if your time allows.
Yes you are absolutely right - when I first made these videos I was teaching Intermediate Micro using Varian - hence the matches. The videos only ended up on RUclips because my students asked me to put them there. I have ideas for other video series (Intermediate Macro and Game Theory), but I haven't done them yet due to time. Thank you for the encouragement, and thank you for watching!
Thank You for the clarification of the whole Intermediate Microeconomics class! We are studying on the Varian's book, and it is not clear enough. Watching your videos a night before the exam. I hope to be able to pass this course.
I think we’re in the same class 😂😂😭😭😭
Thank you for watching!
@@MsSupergirl112 hahaha ;)
Hi, sorry if this is very basic info... but math is a LONG time ago (10 years) and I have to do these calculations now for a minor.
Why is there at 12:33 the addition of the 2 in '2M/2Py' - in the final part of the formula for Y? I do not get where this 2 is suddenly coming from and cannot recognize it in the simplification. Thanks in advance!
Hi Simone - I did that so that both terms in the expression have a denominator of 2py, so that I can subtract them. If I multiply the bottom of the fraction M/py by 2, then I have to multiply the top by 2 as well to keep the value of the fraction the same. Once both terms have a common denominator of 2py, I can subtract the second term from the first. Hope this helps! Thank you for watching!
@@KatherineSilzCarson Thank you again! I see it now!
Vey helpful thank you ! Do you allow persons to send questions to you if they need assistance ???
I desperately need assistance haha.
Yes, I do - although I cannot guarantee that I can answer them all! Thank you for watching!
where did you get the other indifference curves at 6:29 ?
Note that for any set of preferences, there are an infinite number of indifference curves. Each indifference represents a different utility level for the consumer. The more to the northeast an indifference curve is, the higher their utility is. All indifference curves for a consumer will always be parallel to each other. In the slide at 6:29, the formula for each indifference curve is C = U - T/2, where U represents the consumer's utility level on each indifference curve. On the lowest one, the formula is C = 20 - T/2, and the consumer's utility is 20. On the next one up that is labeled, the formula is C = 30 - T/2, and the consumer's utility is 30. Hope this helps.
Outstanding, thank you.
Thank you for watching!
I assume you are working by hall varian book of intermediate microeconomics because order of the lessons is the same.Thank you so much for your work your lessons are really helpfull.Please continue if your time allows.
Yes you are absolutely right - when I first made these videos I was teaching Intermediate Micro using Varian - hence the matches. The videos only ended up on RUclips because my students asked me to put them there. I have ideas for other video series (Intermediate Macro and Game Theory), but I haven't done them yet due to time. Thank you for the encouragement, and thank you for watching!
fantastic!
please teacher the formula of U 5.50
5:50