Micro: Unit 2.1 -- Marginal Utility

Hey Everyone! I'm Mr. Willis, and You Will Love Economics!
In this video, I will:
- Define marginal utility (MU) and the law of diminishing marginal utility
- Practice calculating the marginal utility per unit of a good
- Explain the correlation between diminishing utility and the law of demand
- Define marginal utility per dollar (MU/P)
- Practice calculating the marginal utility per dollar per unit of a good
- Use marginal analysis to predict consumption patterns and determine the quantity of the
good that should be consumed
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[@NickKoco]

Always coming back to the GOAT Mr. Willis!!

[@mariakatsarou6037]

Excellent videos Mr. Willis! Thank you for making us understand economics 🙂

[@assil110]

I dont believe that marginal utility can be negative. Actually, owning a good or a service does not mean that we have to consume it (for instance, owning or buying many cookies does not necessarily imply that we will have to eat all of them). So, I think the lowest possible value of MU is zero. Why do we need to assume that rational individuals would literally consume the good or service if they know, ex ante, that it would harm them or decrease their satisfaction level !!! What about the preference propriety: "More is Better"???

[@nandreshiram2269]

Love the videos Willis!

[@yudhisthir7247]

As always Great Explanation.

[@ridoquee]

Great videos Mr Willis! May I ask which programm you use for editing? Greetings from Greece!

[@nasridley6459]

This man saying lives

[@joshtabannejad3332]

thank you

[@edsonphiri4098]

EXCELLENT

[@PeacefulKrahang]

Cool

[@tanishkjalan3493]

Gjb tha (it was amazing)