Consumer theory
How do you decide what to produce or trade? How can you maximize happiness in a world of scarcity. What are you giving up when you choose something (i.e., opportunity cost)?
This course contains 3 segments:
Introduction to consumer theory: total utility and marginal utility
In this tutorial we look at the utility of getting one more of something and put numbers to it. We then use this to construct a budget line and think about indifference curves.
Utility maximization using marginal utility per dollar spent
Utility maximization with indifference curves
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| Rating | Not enough ratings |
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| Length | 3 segments |
| Starts | On Demand (Start anytime) |
| Cost | Free |
| From | Khan Academy |
| Download Videos | On all desktop and mobile devices |
| Language | English |
| Subjects | Business Social Sciences |
| Tags | Economics-Finance-Domain Microeconomics |
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| Rating | Not enough ratings |
|---|---|
| Length | 3 segments |
| Starts | On Demand (Start anytime) |
| Cost | Free |
| From | Khan Academy |
| Download Videos | On all desktop and mobile devices |
| Language | English |
| Subjects | Business Social Sciences |
| Tags | Economics-Finance-Domain Microeconomics |
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