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Deriving the budget equation and identifying its slope and intercept
Deriving the budget equation and identifying its slope and intercept
4:44
About this lesson
- All the available options when income is used
- \(Q_x P_x + Q_y P_y\) = I
- \(Q_x \, \)→\( \, \) quantity of x, \( Q_y \, \)→\( \, \) quantity of = y
- \(P_x \, \)→\( \, \) price of x, \( P_y \, \)→\( \, \) price of = y
- \(I \, \)→\( \, \) income
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Video 1 of 12
Deriving the budget equation and identifying its slope and intercept
5 min
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Six ways to shift the budget line by changing prices and income
10 min
Setting up and graphing a budget equation for two goods
4 min
Budget equation for monitors and laptops with slope and graph
4 min
Graphing the budget line with an original income of 60
4 min
Graphing the new budget line after an income increase to 100
2 min
Determining if the budget line slope is unchanged
1 min
Identifying slope and y-intercept of the new budget line
1 min
Setting up and graphing the original budget line for pencils and erasers
3 min
Deriving and graphing the new budget line after a price increase
3 min
Comparing slope steepness after a budget change
1 min
Slope and y-intercept of the new budget line
1 min