A.13 Characteristics demand | Consumption - Microeconomics

Learn more: www.policonomics.com/character...
This video helps understand how characteristics demand works. We start with a simple example, using just two brands. Then, we'll see what happens when we allow for convex demand curves. Finally, we'll see how a new brand might change the analysis.
Related videos:
-Indifference curves: • A.2 Indifference curve...
-Utility function: • A.1 Utility function |...
Related articles:
-Preferences: www.policonomics.com/preferences/
-Utility function: www.policonomics.com/utility/
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[@Policonomics]

This week's featured video is about Characteristics Demand, which is useful when analyzing brand loyalty and the effects of introducing a new brand to a market: A.13 Characteristics demand | Consumption - Microeconomics Learn, and enjoy!

[@trisha_mehta]

Didn't understood this section- From 2:57 yo 3:13 Plz elaborate

[@rodneyturkson918]

hey could you do videos on market structures?

[@Policonomics]

Hi +Rodney Turkson , Yes, we plan to do so. Early 2016 we'll start uploading videos on Game Theory, our 4th series. Our 5th series, which will cover Market Structures, will be uploaded around summer. Thanks for watching! The Policonomics Team

[@Policonomics]

Dear +Rodney Turkson , We just uploaded our fourth video to our series on Game Theory. It's about the Battle of the Bismarck Sea, we hope you find it interesting! kzbin.info/www/bejne/aHWniqeaaqt3i80 If you like it, spread the word! Thanks for watching, The Policonomics Team

[@mugibentang7328]

We can Opt for Point D 3:08, WHAT IS THAT MEAN? Please! I dont get it

[@Policonomics]

Dear Mugi Bentang , Since the price of one of the brands drops, we can now opt for a higher indifference curve. Also, since we allow for convex demand curves (meaning we can choose baskets of goods containing both brands), we are able to choose point D. Thanks for watching! The Policonomics Team

[@maheshbisht-]

few difficult to understand