17. Mapping Consumer Theory to Producer Theory

[@mizzthizzkakes]

Thanks a lot. My professor recommended that the class watch your videos as a supplement to help us understand the textbook better and they are helpful

[@gwessel1]

I wish I found these videos two years ago, for clarity on the very basics. I am PhD cand in Law. Some concepts are scary if you do not have the right background. GREAT JOB MAN. One comment... I would focus the camera on the whiteboard and forget about you. The cameraman is making the whole stage look good but in reality only the board matters. Some forms are too small. I am being picky here, you job is FABULOUS. We , the lawyers of the world, owe you so many hrs of free legal advise!!

[@MeganSpikeLover]

Hi! I just wanted to say thank you soo so much for making these videos!! I have beeen watching them and they explain the concepts so well and makes the material very easy to understand. I unfortunately have a professor who has problems speaking english and it has been such a constant struggle to understand anything he teaches in class. Although this professor might have threatened my A average, these videos are saving my life! :) Thanks again!! I really do appreciate it so much :D

[@Cogrum]

Econ Minor over here and very much enjoy your videos. Please keep them coming.

[@RamrodL]

top work, explained it so simplistically and in 8 minutes unlike my lecturer who took weeks and was very confusing

[@intromediateecon]

Yes. Now, I do. I didn't when you posted the comment. This video was my first on producer theory. Now, I have five more videos (17A, and 18 - 21). A comment on the difficulty/level of those videos. Of all of my videos, 17A is the most advanced mathematically. Videos 18-21 are pretty basic so far. I plan to cover the same topics (but using calculus) sometime in the near future. Stay tuned.

[@intromediateecon]

Good suggestion. With this video, my intended audience isn't necessarily familiar with calculus (so I didn't go into this kind of detail b/c it may have been confusing coming from that background), but I agree that such a video would be useful. In my companion video (17a), I do a little calculus (and perhaps hint at these two streams... though I don't recall doing it as clearly as you suggest b/c the video is a Cobb-Douglas example with calculus)

[@intromediateecon]

@Virtuoso883 I presume you are referring to the comment at 2:22 where I inserted the comment "That's because everything above that indifference curve is not affordable." You're right that everything above the budget constraint isn't affordable, but that's true for every point on the budget line. At the optimal point, it is also true that every bundle that is above the indifference curve is not affordable. That is a consequence of the tangency. That comment refers to the optimal bundle.

[@ianmendes]

Thank you so much for the explanation! I found it really helpful. Could you please consider setting down the camera when you video yourself? The shaky footage makes it harder to focus. Thanks!

[@intromediateecon]

@1099513 Sorry for not replying sooner. I don't think the allegory goes through, but then again, I am confused about what you mean. One reason I don't think it goes through is because you only talk about one input (time)... the problems I talk about here are fundamentally about trading off two inputs. I'm also not sure about the link btw avg cost and the isoquant (doesn't make sense to me). Lumpy investments and dynamic investment necessarily require a different set of mathematical tools.

[@lamina11]

This video is really helpful. Do you have any more videos on theory of the cost, production and profit maximization?

[@intromediateecon]

@MeganSpikeLover Thanks! I'm glad these videos are helpful to you.

[@obzzervant]

great explanation!

[@lindajoseph7370]

Nice video and illustration, but Please what are the major contradictions between a Consumer optimization and a producer optimization. I need urgent reply please.

[@ELIASGTR]

Good work bro

[@iamthegreatestsloth]

Perhaps would have been good to compare the two streams (expmin and utilmax) of consumer theory with their respective producer theory analogues (costmin and profitmax), and the similarities/differences of the resulting functions

[@floridaalvarado4277]

Hello, I really appreciate your efforts in creating these videos. I am curious to know how many semesters of calculus you had to take, and are you an Economist? Flor9da

[@nutmeg8000]

Many thanks for your video's, but isn't the y or i guess k intercept (vertical intercept) equal to B*/Pk, just as the horizontal intercept is B*/PL? I don't understand how B*/L can be the intercept when for the old budget line the horizontal intercept is B/Pk and the vertical is B*/PL. The horizontal intercepts have the same denominator but the vertical's don't? How can that be, and if it is correct how so? Regards,

[@banaluke]

good illustrations

[@pogota1]

you are the best thank u!

[@dattapuneet]

great video but audio is too low. Going forward it would be great idea if you could use better mic or something.. cheers .. your video got me an A. thanks for that

[@vidura89]

you are a god.

[@matbooker]

love your videos thanks a lot......only thing is they always take really long to load...this happen to anyone else? :S

[@tjkhk]

thank you :)

[@Logictemplates]

meh samples .