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YouTubeDrAzevedoEcon
Chapter 21: Theory of Consumer Choice - Utility Maximization
In this video I discuss the theory of consumer choice. It covers the budget constraint, indifference curves, utility maximization, the derivation of the demand curve, and the income and substitution effect. Budget constraint 1:50 Consumer utility 27:17 Jeremy Bentham and the Auto-icon 27:52 Indifference curves 30:50 The consumer's utility ...
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