God bless you, sir, for you are LEGENDARY! You've helped me understand so many concepts in such little time. Please continue to make these videos, I cannot stress as to how many students will benefit from this content.
Thank you so much Sir for your simple explanation. I studied the concept of utility for a day but never grasp anything. Yet you come in with your 10min explanation and help me understand more than I need to know about Utility.
Just note that the marginal utility curve is the gradient function of the total utility curve, therefore as differentiation (for those who do maths) states, the turning point of the total utility curve is when the gradient is 0, therefore the gradient function (which is MU) will be 0 at the turning point of the total utility curve.
Am I wrong, but don't economists only use one value to measure utility? Why don't economists use multiple values to effectively measure utility? It is possible that consumption of something acquired could end up increasing satisfaction in one area, and decrease it in another one? Am I missing something?
I realised allot of teachers who touches upon this subject uses numbers of 100s or even 1000s to show utility while you use two digit number to show it. Is there a rule to this or can it be any number as long as ratio is right?
But why is it that these calculations am not getting them since the way back more so for Marginal which is a change. So may I have a simple video on that please. On how those negative digits are got please
If you dont do this video i will fail the topic, you are the only tutor i understand, used the channel for my AS and got an A, im using it for A2 too to maintain the A. Thanks for the vid in advance
Why can't consumers stop consuming at 4 units, provided that total utility is the same for both 4 units and 5 units? The only difference being you could have consumed one extra at no 'extra cost' or no extra benefit - but is this needed? Because utility has already been maximised
I really like the course - great to learn and it provides you guys with a great grounding in economics. The exams will be tough, to learn all that content for a very intense period of examinations will be testing
No, the marginal utility already takes into account both the costs and benefits (in terms of utility). This is why after the 6th one the MU is negative.
God bless you, sir, for you are LEGENDARY! You've helped me understand so many concepts in such little time. Please continue to make these videos, I cannot stress as to how many students will benefit from this content.
Thank you so much Sir for your simple explanation. I studied the concept of utility for a day but never grasp anything. Yet you come in with your 10min explanation and help me understand more than I need to know about Utility.
Just note that the marginal utility curve is the gradient function of the total utility curve, therefore as differentiation (for those who do maths) states, the turning point of the total utility curve is when the gradient is 0, therefore the gradient function (which is MU) will be 0 at the turning point of the total utility curve.
Yes a good reminder indeed
how can i use this in a level?
@@BBK583 u don’t need to know it for a level dw that’s something you do at uni
You're a legend Sir !! Good Job 👍 Helping me in preparing for the Exams (A2 Economics)
A great teacher. Very illustrative and well delivered. Thank you.
This is what gets me up in the morning, keep it up 👍🏻
Ben Muncaster Big love for econplusdal thankful always
@@thesnackbandit dont care
This is helping me in my BSc Econ revision. Thank you sir
This is very interesting, I am not in economics but you explained so well that I understood what the Utility theory is.
bro i got a "A grade" in my As level because of u and now beginning A2 prep with this video of yours
"Cuka-cula". Love you xx
Can you explain indifference curve plz??
Pleaseeeee
thank you so much sir you help me understand
that my teacher was teaching for two weeks
you have made it so simple n easy to understand......bless up
what would my life be without you
vikkstar never dissapoints
You are brilliant. I appreciate your lessons.
Thank you so much for excellent explanations sir!
Great work sir! Very helpful videos for revision
Excellent I am subscribing your videos. You explained the concept and then provided and example in day to day life
thank you for a very good and simple way to explain UT.
thank you so much for helping me understand
You're the best. thank you!.
Good old dal lad sorting the boys out as always!
Sir please add inndifference curve and budget line in your playlist very imp part of the aleval sylabus
Thanks so much but what is cardinal utility and what are it's assumptions
Is there a video on indifference curve?
Great job sir!
this assumes the cups are uniform utility but can we imbue each proceeding cup with more utility than the one before it?
Am I wrong, but don't economists only use one value to measure utility? Why don't economists use multiple values to effectively measure utility? It is possible that consumption of something acquired could end up increasing satisfaction in one area, and decrease it in another one? Am I missing something?
love u bro, u the goat
Wow! Really good video!👌
Good explanation thanks mate!
great video, will there be behavioural videos out soon?
I realised allot of teachers who touches upon this subject uses numbers of 100s or even 1000s to show utility while you use two digit number to show it.
Is there a rule to this or can it be any number as long as ratio is right?
awesome sir, very useful .....
clearly explained. THANK YOU..
But why is it that these calculations am not getting them since the way back more so for Marginal which is a change. So may I have a simple video on that please. On how those negative digits are got please
Thank you very much sir..please do a video on indifferencs curv3s and budgetlines😭
If you dont do this video i will fail the topic, you are the only tutor i understand, used the channel for my AS and got an A, im using it for A2 too to maintain the A. Thanks for the vid in advance
Indifference curve ?
Why can't consumers stop consuming at 4 units, provided that total utility is the same for both 4 units and 5 units? The only difference being you could have consumed one extra at no 'extra cost' or no extra benefit - but is this needed? Because utility has already been maximised
love dis brudda
I just wanna ask, why is it that price is assumed to be equal to utility?
Excuse me, sir how to find the marginal utility?
This is fire💥
life saver
Thanks
Thank you🙏
hi I just want to ask whether you have budget line and indiffernce curve video lesson?.. id didnt find it
i love you man
Nah thank YOU mybro 🧏♂️✊🏿
but even at 4 cups the total utility is 20
Hi Noor, don't worry about the numbers too much. Just think it is worth drinking cups as long as the marginal utility is positive
thanks for replying
you da best, i looooooooooe u
INSIGHTFUL
what is your view on the new exam style and the new topics for this year? exams are now linear.
I really like the course - great to learn and it provides you guys with a great grounding in economics. The exams will be tough, to learn all that content for a very intense period of examinations will be testing
@@EconplusDal e
thank you
thankyou sir
King 🤴
Is the slope of MU curve constant or constantly declining?
can you add a MC curve on this diagram? to show MC=MU where you'd actually consume?
No, the marginal utility already takes into account both the costs and benefits (in terms of utility). This is why after the 6th one the MU is negative.
Perfect
good
Sir will you upload videos on demand and supply and their elasticity? Also videos on the production function in the short and/or long run?
Tabby .. Im pretty sure hes already done elasticities of supply and demand
Love u
wow
👍