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Consumer Behaviour
Consumer Behaviour
Utility
Utility
What is more valuable: a diamond or a bottle of water? Which of the two is more expensive? Why? Akshita Agarwal explains how the law of diminishing marginal returns can explain the paradox of value.
(Video: 3m 45s)
Indifference curves
Indifference curves
Arizona State University’s Professor Joana Girante shows how to graph an indifference curve. She also talks about marginal rates of substitution and how perfect substitutes and perfect complements goods change the shape of an indifference curve.
(Video: 8m 27s)
Producers in the Short Run
Producers in the Short Run
Cost curves in the short run
Cost curves in the short run
This video explains how different types of costs affect the production process. It starts by explaining the main characteristics of fixed and variable costs and how these form total cost. Then it explain relationship between costs and returns to scale.
(Video: 2m 52s)
This video explains how average and marginal costs are calculated.
(Video: 3m 20s)
This video explains how costs behave in the short run, and analyses when a company should start producing.
(Video: 3m 20s)
Producers in the Long Run
Producers in the Long Run
Cost curves in the long run
Cost curves in the long run
This video explains how to analyze cost curves in the long run, it shows how they are derived from multiple short-run cost curves.
(Video: 3m 15s)
This video explains how the average cost curve defines when economies of scale appear and then analyzes the difference between economies and diseconomies of scale.(Video: 1m 59s)
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