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Intro to finding the optimal choice using budget lines and indifference curves
📝 My Notes
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Intro to finding the optimal choice using budget lines and indifference curves
4:07
About this lesson
- Maximize Utility on Budget Line
- Indifference Curve Intersects Budget Line
- Maximized when Budget Line is Tangent to IC
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Video 1 of 11
Intro to finding the optimal choice using budget lines and indifference curves
4 min
• Selected
How price changes shift the budget line and optimal choice
9 min
How changes in income shift the budget line and optimal choice
5 min
Checking if a bundle is affordable after price changes
2 min
Comparing budget lines to determine preferred price combination
9 min
Checking if a bundle is affordable after price changes
2 min
Comparing two price scenarios using budget lines and indifference curves
8 min
Finding Kevin's optimal tea and pizza combination on a budget line
4 min
Finding optimal choice after a tea price increase to $4
3 min
Finding Kevin's optimal chocolate and vanilla purchase on a budget
4 min
Finding optimal choice when vanilla price increases to $25
4 min