Amazing video, thank you for explaining it in a simple manner!
@WiseKingGodson3 жыл бұрын
Thank you very much for this video. it really helped me
@TheSmashten Жыл бұрын
I can't find any method to do this stupid fucking problem: At prices p1 =1 and p2 =2 with income m=10, what bundle of goods is optimal for the following utility functions? Budget constraint: x1 + 2x2 The marginal utility of x1 becomes 1 and of x2 becomes 2... so how do you set them equal? I hate Econ so much lol.
@khinekhinetun7832 Жыл бұрын
so did you find answer?
@alexcooper-hohn42593 жыл бұрын
this is a really really great video - thank you so much!
@reginajudie912 Жыл бұрын
Thankyou buddy 🙂
@great87 Жыл бұрын
Thanks very much
@great87 Жыл бұрын
Really precise and beneficial. Please keep the good work.
@shealove7766 Жыл бұрын
How do I find the optimal bundle of P1 = 25, P2 = 14 and M=4500
@ishansengupta3715 Жыл бұрын
First bring the equilibrium condition where - (P1/P2)= - 25/14. There after equate the ratio with - X2/X1. You will get the relation between X1 and X2 . Now bring down that equation into the budget line equation where you can substitute the X2 or X1 according to your choice. There after you will get the value of X1 and X2 simultaneously
@ishansengupta3715 Жыл бұрын
Probably my answer is coming X1 =90 and X2 =160.714 approximately