i could not understand what my professor was getting at with these diagrams but you explained it so well!!! thank you!!!!
@femiairboy943 жыл бұрын
I have a candidacy exam in three weeks, you just saved me about three hours worth of review. God bless.
@headrushbeats1879 жыл бұрын
I'm sorry for being immature, but Slutsky is hilarious.
@Policonomics9 жыл бұрын
multiLOLable Indeed!
@Kons2136 жыл бұрын
There's a Russian football coach with the same last name, Leonid Slutsky, who used to coach team Russia in football. Later moved to the UK to work there, British football fans had a field day with his last name... xd Motto was "In Sluts We Trust"... lol
@dennisajala75444 жыл бұрын
A very impressive performance you have here. Thanks for these simplifications. However, I could not comprehend what you expressed when you talked about substitution effect at the beginning of the video. Please I would need it in writing. Thanks.
@Prolui8 жыл бұрын
This was pretty helpful, thanks.
@Policonomics8 жыл бұрын
Dear +Prolui , 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
@hassankourani41552 жыл бұрын
@@Policonomics am””
@ahmedalam50484 жыл бұрын
most concise VDO on the topic .....ever !!!! bestttt :D
@giftyboakye-boateng2323 Жыл бұрын
Can the Hicksian substitute effect be used to discribe a perfect complement preference?
@palesamofokeng69842 жыл бұрын
so when the indefference curve shifts upwards the equilibrium also changes?
@meow1990_27 жыл бұрын
I don't understand the red line parallel to the new budget line?
@IsisMarquesDesign6 жыл бұрын
Yes, so you can compare how much you actually can consume of x,y with your new bugdet and the amount of x,y you'd have consumed with your old budget. It is as if you had fixed the utility curve and changed the price ratios.
@navinarajan13538 жыл бұрын
Shouldn't the income effect be the derivative of the marsh demand multiplied by the Hicksian demand function not marsh (as derivative of the expenditure function wrt to prices is the hicksian demand)?
@shwetaram47025 жыл бұрын
In which direction will the substitution effect change the firm’s employment and capital stock if the price of capital increases?
@gowharayoub850628 күн бұрын
Income effect for inferior good is negative so is substitution effect. And giffen good income effect is negative also.
@ashishdhungana6334 жыл бұрын
how to draw a graph by ourselves in word or PowerPoint? is there any application to draw a graph like you did?
@fillermusic87606 жыл бұрын
How would the table look like for a decrease in price of the good?
@Economaa8 жыл бұрын
Minute 4:56 are you sure that there will be no effect on consumer welfare in this case? After all, there still is a price increase. I think you mean there is no effect on quantity of x consumed, however, the effect on consumer welfare is negative.
@wisdomsimeon4315 жыл бұрын
Great video, thank you!
@Policonomics5 жыл бұрын
Thank you for watching! 😀🅿
@lourensstrydom15025 жыл бұрын
I would like to see you listening to yourself once upon a time when you also did this for the fist time
@sheema1077 жыл бұрын
grt job.really u made economics simple thumbs up!
@youarif118 жыл бұрын
what will happen for non-market environmental goods???
@tahmidishraque64595 жыл бұрын
Why SE is negative for normal goods? I can't understand :(
@irentagreneity2125 жыл бұрын
Exactly,bt it's negative.. little difficult to understand. *_*
@user-md4tw8sp1c4 жыл бұрын
the substitution effect
@andrei-teodorene97294 жыл бұрын
Let's say you have pizza and burgers. A pizza is 3€ and a burger is also 3€. You don't really care about which one you buy, because both are the same price and same tasty. Suddenly, all the restaurant owners say that a pizza is 100€, you simply can't buy a pizza for less then 100€. What are you going to do? Spend 100€ for a damn pizza or just buy burgers for 3€???? I would buy burgers, everybody would do the same, I am not going to buy pizza, so, the demand for pizza is going to decrease, that's why the SE is negative, because you don't want pizza anymore, as it's too expensive, you want cheap and tasty burgers!
@Zen-ds4od Жыл бұрын
For price increase, the SE is negative. Because increase in price will make you want to consume less of it and more of the other good instead. For price decrease it is positive.
@Victual88 Жыл бұрын
Thank you very much
@mohammadfarhan73497 жыл бұрын
what happen in giffen good case when price of x increases
@irGuilty7 жыл бұрын
the demand would increase for the giffen good as well
@mohammadfarhan73497 жыл бұрын
irGuilty thanks
@user-md4tw8sp1c4 жыл бұрын
Great, loving you.
@NamalIndrajith-MCP4 жыл бұрын
Superb...
@heyptech17267 жыл бұрын
amazing thank you
@raaifriz33333 жыл бұрын
Why do we even talk about the income effect? There is no change in Income right? Could someone please explain
@Zen-ds4od Жыл бұрын
increase in purchasing power, same as income increase
@gouriramkumar84307 жыл бұрын
Shouldn't the red parallel restriction line pass through the initial equilibrium?
@ruthn32936 жыл бұрын
No
@gabordanos74696 жыл бұрын
veery nice
@rossanabarazorda57336 жыл бұрын
gracias,muy bien explicado :)
@Policonomics6 жыл бұрын
Gracias a ti ❤ Acabamos de abrir nuestro canal en español! 🅿kzbin.info/door/khb76DGIpws2gZGC9UeyHw
@mdfahim87923 жыл бұрын
Sister its not math its eco
@nickspencer52342 жыл бұрын
stupidly overcomplicated
@10pmmemes885 жыл бұрын
How much did you pay for a corpse to narrate the video?