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Concepts Of Utility From A Consumer's Perspective - A Crash Course
Theory of Utility
Introduction (2:00)
Features of Utility (7:49)
Total Utility & Marginal Utility (4:55)
Assumptions of Marginal Utility Analysis (4:51)
Law of Diminishing Marginal Utility (DMU)
How Marginal Utility Operates? (5:46)
Relationship between TU & MU with Mathematical Explanation (4:00)
Assumptions in the Law of Diminishing Marginal Utility (5:30)
Exceptions to the Law of DMU (2:22)
Indifference Analysis
Problems in Utility Measurement & the Game Changing Solution (4:36)
Indifference Curve with Graphical Representation (6:33)
Assumptions of Indifference Curve Analysis (2:36)
Graphical Presentation of Indifference Curve Properties (7:25)
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Problems in Utility Measurement & the Game Changing Solution
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