Your video was a savior! I could answer one of the questions from my eco assignment which is due in a few hours with the help of this video. You helped someone today and that someone is really grateful! :)
+Yuki Izawa Set what's in parenthesis equal to get 2x = y. If you plug x = 1 into the last equation, you get 2(1) = y, or y = 2. So, if x =1, you need 2 units of y. If you had two units of x, you would need 2(2) = y, or y = 4. Therefore, every unit of x needs 2 units of y. I hope this helps.
@@EconomicsinManyLessons Hello, thank you for this very helpful video, I do have a question though lets say we have 3x=4y in this case what would the ratio of x to y be for perfect complements and why? (Thank you again for any help !)
I use a lot of sources, including my own material and notes when I was a student. For intermediate microeconomics: I have the following textbooks: Microeconomic Theory: Basic Principles and Extensions by Nicholson Microeconomics Theory and Applications with Calculus by Perloff Intermediate Microeconomics by Varian Microeconomics by Goolsbee, Levitt, and Syverson Microeconomics by Besanko and Braeutigam Microeconomics by Pindyck and Rubinfeld
Your video was a savior! I could answer one of the questions from my eco assignment which is due in a few hours with the help of this video. You helped someone today and that someone is really grateful! :)
taught me more than than 10 weeks of class! thank you so much :)
Thanks, my lecturer failed to go over this. Thank god for TH-cam.
Very helpful. Thank you. Love from India.
I love this channel so much thank you for being you
I appreciate that so much!
Hi, would you explain why each unit of x requires 2 units of y? Thank you! :) Grateful for your reply.
+Yuki Izawa Set what's in parenthesis equal to get 2x = y. If you plug x = 1 into the last equation, you get 2(1) = y, or y = 2. So, if x =1, you need 2 units of y. If you had two units of x, you would need 2(2) = y, or y = 4. Therefore, every unit of x needs 2 units of y. I hope this helps.
1sportingclays thank you! No wonder! I was still wondering how did you deduce that without workings :)
@@EconomicsinManyLessons Hello, thank you for this very helpful video, I do have a question though lets say we have 3x=4y in this case what would the ratio of x to y be for perfect complements and why? (Thank you again for any help !)
@@am11a84 Solve the equation 3X = 4Y for X/Y. In this case, X/Y = 4/3. The ratio of X to Y is four-thirds a unit of X to one unit of Y.
why each unit of X must be consumed with two units of Y is 2x=y？isnt it x=2y？
good job dude...
thank you so much!
It helped me a lot thank u!
Thank you for the help!
if this equation is rather min(aX, bY*2) or y square, would we solve it in the same way??? Kindly guide
Thank you 👌🏾
I think you mean that the maximum utility a consumer can get is 20 when income is 140.
Can you please tell me your referenced readings
I use a lot of sources, including my own material and notes when I was a student.
For intermediate microeconomics: I have the following textbooks:
Microeconomic Theory: Basic Principles and Extensions by Nicholson
Microeconomics Theory and Applications with Calculus by Perloff
Intermediate Microeconomics by Varian
Microeconomics by Goolsbee, Levitt, and Syverson
Microeconomics by Besanko and Braeutigam
Microeconomics by Pindyck and Rubinfeld
which is the correct ratio that is used in the case of perfect complements y/x = b/a or y/x = a/b ?? please help
very helpful!!!!
can you also graph the indifference curve for this problem?
Great suggestion! Please see here: th-cam.com/video/Xspx2hLgx28/w-d-xo.html
Draw your U better