Mathematically Solving for the Income and Substitution Effect of a Price Change

[@Bethlehem0BC]

Never thought the perfect youtube tutorial could exist. Perfect structure and explanations. Thank you

[@austinaune2589]

Econ 10a ucsb?

[@parkerfrancisgauthier7360]

I remember asking my micro professor for help on IE and SE. His conclusion to me was "you're overthinking it." I probably was, but your video was leagues more helpful. Wish I knew this existed then!

[@dylangranum5838]

online micro with calc just became a lot easier. thank you.

[@elinadas74]

Thank you so much! Clear and concise explaination. Cleared up my doubts completely.

[@sjaoenvf]

the math of the utility function really helps to understand these effect. Thank you.

[@Orochimaru500]

I understood everything u have done. But that was because of your pure explanation. Thanks Sir.

[@cherisejanari8661]

Thank you for that simple and very enlightening explanation.

[@akankshap8649]

your method of explaining this concept is perfect,it clear my all doubt thanks.

[@shivamkumartiwari6545]

Now I become your new subscriber. You teach very effectively. Thanks

[@EconomicsinManyLessons]

I appreciate that!

[@migueru1464]

thank you very much for the videos for people like you is that internet is an actual advancement in society

[@dinacamalia7256]

Thank you sir for the very clear and simple explanation. Great video sir 😊

[@thenozar7603]

Alright alright alright Mr Matthew Mcconaughey, thanks for the great video

[@beomkomap]

Thank you sir! very helpful.

[@marcosporras6547]

Thank you so much, professor

[@meloney55]

thank you so much, it was really helpful!!!!

[@GraysonWheeler-ll9hh]

Thank you!

[@EconomicsinManyLessons]

You are very welcome!

[@HD-vx5gp]

u ment good y goes to price 10 in 1:10?

[@ekonomiaklassroom2442]

So nicely explained, thank you so much sir

[@canzonibelle8844]

I don't understand why at 06:05 he plugs 5X into the equation...

[@aymanmasud831]

Because when the price of good x increased to 10, you plug it into the budget constraint equation. from that he got y=5x. And I'm pretty sure we hold utility constant. Thus, set the Utility equal to the initial utility. Hope that helps

[@nopchannnuon8776]

Very Good job!

[@teddy6347]

Thanks！It helped a lot！

[@FullShadowGaming]

Lifesaver

[@jonasf7498]

big thanks!!!

[@frankconte9869]

Thank you.

[@EconomicsinManyLessons]

You are welcome!

[@shafeeinsyed4263]

thank you so much for this video, really explained everything in detail

[@EconomicsinManyLessons]

My pleasure. Thank you for the nice comment.

[@senthamizhvithagan2023]

I have a doubt.can be the income effect work alone without substitution effect??

[@simonedisalvatore6832]

thank u very much sir !

[@EconomicsinManyLessons]

You are welcome!

[@mosessilungwe4090]

Suppose that the price of good X increases as is the case in the video. Calling the budget W (the budget is unknown), how would you solve x and y under the new prices as a function of W ( the unknown budget).

[@elvinkarimli7690]

Did you find the answer? )

[@orey643]

this guys goated

[@EconomicsinManyLessons]

Thank you!

[@gracebwakya5493]

Thank you

[@mrsoumikghosh5900]

but this is hicks substituition effect

[@Re-BornFree]

Yes, that's what I've been telling myself all along but for unknown reasons the Hicks method is more understandable than than Slutsky.

[@mateusmurta9447]

thanks a lot

[@emreyaln7780]

LET HIM COOK!

[@pearldamptey5390]

Hii

[@BalticDude_DCS]

What a terrible video. First of all your arithmetic is terribly confusing and inefficient, and then you tell us that, "A normal good is something you buy less of as your income goes up" I understand they are opposite when referring to income and substitution effects, but you need to explain that. A dislike from me.