Episode 18: Consumer Equilibrium

How can we tell what buying decision a consumer will make, given preferences, income, and prices? How will the consumer maximize his/her own happiness?
"Episode 18: Consumer Equilibrium" by Dr. Mary J. McGlasson is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.

[@wtffffffffffffffffffffffff]

The dude basically survived on two pizzas, five beers and six PACKETS of cigarettes for a whole week. God Bless America

[@milindogugu5327]

So you learnt that ?

[@SubSub-dm6nd]

@@milindogugu5327 lmao

[@SubSub-dm6nd]

lol lol

[@HabtOp]

😂😂

[@AmosMwenda-uh7ek]

😂😂 c’mon

[@fishguy1057]

These are very good. I use these for my students as supplemental study material. They love them.

[@mjmfoodie]

This example is contrived, of course, to work out perfectly -- but the principle is the same. Spend your money down as far as you can, making sure at each step that you get the most "bang for your buck."

[@Sourcelighteer]

Hello. Thank you very much. Really appreciate your work. Finals coming up soon and your channel is like a gold mine :)

[@laughterfactory2352]

That was so easy!!!! Thank you ma'am it really helped me a lot! Ly 💜❤💓💖

[@bilalrehman5466]

Very nice . You made it so easy to understand. Thank you very much

[@lunaria8949]

After 3 packs of cigarettes I would have lung cancer

[@abishekkameswaran2407]

😂

[@eloisasumulong9493]

Thank you so much!!! 😢😢😢

[@meganmae6144]

cigarrets should have been labeld as the more expensive item not to mention if that said person spent that amount on cigarrets alone i would consider him be in a rehab unit gosh golly ughhh

[@arjunvenkatesh8151]

Number 1 purchase- Health Insurance

[@hasanthianishadesilva8283]

Thanks for this!!

[@izaansharief3443]

GREAT 🙏😊💞👍🙂

[@tyelawson4900]

Good vid

[@wnsbug]

pizza beer cigs it's what i used to live on. now it's pasta and water!

[@akgamingyt1650]

yup 11 yr ago how r u bro

[@wnsbug]

@ pizza pasta and water!

[@usamashoaib3696]

Thank you.

[@jonakchetia]

im so fucked this finals :(

[@SlamburglarWSU]

"Pizza, beer, and cigarettes" lol

[@666alberto]

Who and How is measured the Units of Utility (/satisfaction)? Seems like we're just putting the problem inside a different bag..

[@Irefuse960]

Actually no one can ever measure utility and that is why this cardinal approach of studying consumer's equilibrium proposed by Marshall failed.

[@TheGerogero]

These are some unhealthy preferences.

[@484joshineha2]

I'm here in nov 2021

[@Lucky10279]

You shouldn't just choose based on satisfaction. Sure cigarettes might give you more satisfaction at first but then you get sick from then.

[@adityajayanthvadali4691]

its microeconomics. purely theoretical

[@archiewolfzilla6967]

It's just an example

[@nellypisfil-rodriguez1427]

How were the MUs calculated? Will they always be provided?

[@anyweighs]

MU = change in total utility divided by change in units consumed

[@Sourcelighteer]

It's an economic theory. Unless you put some kind of unit onto it you wouldn't been able to measure & compare options

[@jessica386m]

Why after the third pack of cigarettes does he choose beer when the satisfaction is still higher for cigarettes on the 4th unit still? the satisfaction is 8.25 and the others are lower.

[@pack44]

Amazon was named after you.

[@jinusanghavi]

Is that the law of equi marginal utility?

[@Lucky10279]

Isn't it kind of silly to measure satisfaction in numbers? I mean it's not a physical object. It doesn't make sense to measure it in numbers.

[@anyweighs]

it’s theoretical

[@saharshjuneja3837]

Why can't we save

[@adijo123]

Why is it "per dollar"??

[@anyweighs]

because that’s the most used unit of measurement, it can be per cent per penny etc

[@dreamtowngirl]

my mind is f*cked +.+

[@NutanNaik-rp9jo]

Any one November 2024

[@aidanbrannan8409]

where is unemployment?

[@Moe-bj6ug]

Pizza, beer, and cigarettes this guy is bum