Ordinal Utility Approach - Theory of Consumer Behaviour | Class 11 Economics

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=======================================================
✅ In this video,
✔️ Class: 11
✔️ Subject: Economics
✔️ Chapter: Theory of Consumer Behaviour
✔️ Topic Name: Ordinal Utility Approach
✔️ Topics Covered in This Video: Ordinal Utility Approach
=======================================================
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Mam wo triangle sign ko delta bolte h

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[@aaryanmakwana515]

at 7:49, how is the area between two commodities resulting in satisfaction? area here can't represent anything as it is the multiplication of the quantity of two goods. also since the satisfaction on the indifference curve is the same at all points, this proposition of the larger the area, the larger the satisfaction is false, nor does this follow the rule of diminishing returns.

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3:10 ordinal utility 4:15 indifference curve 14:00 marginal rate of substitution

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[@maxe3629]

Please upload Law of equi marginal utility

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Thank u mam

[@srujanpatil3349]

Mam mrs refers to rate of substitution .Not the level of satisfaction. for example 5 bananas are sacrificed to gain 1 extra appale . Then the equation 5/1=5 it means the rate of substitution is 5 . And the symbol of triangle refers to delta.

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Mam I have seen ur cardinal utility approach video but it doesn't mention marginal rate of transformation & marginal opportunity. Waiting for ur reply

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Maam has taught that topic in a separate video

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[@mohdshoaib2987]

maam the topics [moc and mut] that you are claiming you had taught earlier in cardinal utility approach is missing please add these topics thank you.

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[@joytisingh3911]

mam I want to ask- MRS can be negative or not ?

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The marginal rate of substitution is always negative because it is measuring the rate at which someone is willing to give up some amount of one good in exchange for gaining some amount of another good.❤

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Mam indifferent kya two goods me he Hota hai kya not another value for example 1,2,3,4

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I think it can concave be in case of addiction of some drugs alcohol

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I have to say every vedio i have seen with regard to utility,the object to describe examples has been chocolate and icecream

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Monotonic preference means that a rational consumer always prefers more of a commodity as it offers him a higher level of satisfaction. Monotone preferences essentially say that "more" is preferred to "less".

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Is there any difference between Marginal opportunity cost and marginal rate of substitution ?

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[@tannupatel17]

Yes there is a difference... Marginal Opportunity cost or Marginal Rate of Transformation(MRT) always increases but Marginal Rate of Substitution(MRS) decreases.. That's why the shape of PPC is concave but indifference curve is of convex shape...

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How can A=C??? At 46:42

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: Utility maximize approch

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[@AshutoshKumar-xj8nk]

Ma'am how to get the PPT slides of the lecture.

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Ma'am indifference curve curve hi kyu hota straight line kyu nahi hota hai

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