4. Demand Curves and Income/Substitution Effects

Comments · 183

• MI

  @mitocw · 1 year ago · pinned

  * View newer version of the course: <a href="https://ocw.mit.edu/14-01F23">https://ocw.mit.edu/14-01F23</a> *

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• CO

  @Coffeeinthecity3 · 6 years ago

  Dude just murdering chalk every lecture hahaha

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• PA

  @patwailes5927 · 3 years ago

  What a privilege it is to have access to this incredibly useful information presented by such a distinguished spork advocate

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• LI

  @Liom89 · 5 years ago

  I&apos;m currently a first year economics student in the UK, and these lectures have been super useful revision tools for my microeconomics module. Great job here.

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• IS

  @isabellelvvv1114 · 5 years ago

  literally saving me from desperately useless lectures that I have...Thank you for uploading this

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• CH

  @christopherhood2426 · 3 years ago

  I like that these videos have no adds

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• CE

  @certifiedteacher89 · 5 years ago

  Here is the place, I was looking for, MIT is contributing to education so much that I can&apos;t explain. Love it

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• CH

  @chizzy12boss · 2 years ago

  Am an undergraduate Economicst from Nigeria and this is helpful to me THANKS

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• YA

  @yashchugh9132 · 5 years ago (edited)

  @ <a href="https://www.youtube.com/watch?v=x0scPosOsoI&amp;t=141">2:21</a> bc1 and bc 2 are mixed up<br>@<a href="https://www.youtube.com/watch?v=x0scPosOsoI&amp;t=447">7:27</a> the demand curve should have price on the y axis which is wrongly marked as pizza and point B should have price 9 instead of 7

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• BO

  @bored8321 · 5 years ago

  I haven&apos;t even taken a microeconomics class yet, but his lecture are extremely interesting to the point I&apos;m learning the material

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• TA

  @tarafahey6217 · 5 years ago (edited)

  <a href="https://www.youtube.com/watch?v=x0scPosOsoI">00:00</a> Lecture outline<br><a href="https://www.youtube.com/watch?v=x0scPosOsoI&amp;t=53">00:53</a> Deriving Demand Curves<br><a href="https://www.youtube.com/watch?v=x0scPosOsoI&amp;t=635">10:35</a> Elasticity of Demand<br><a href="https://www.youtube.com/watch?v=x0scPosOsoI&amp;t=743">12:23</a> - - &gt; Perfect Inelasticity<br><a href="https://www.youtube.com/watch?v=x0scPosOsoI&amp;t=903">15:03</a> - - &gt; Perfect Elasticity<br><a href="https://www.youtube.com/watch?v=x0scPosOsoI&amp;t=1154">19:14</a> Income Shifts<br><a href="https://www.youtube.com/watch?v=x0scPosOsoI&amp;t=1409">23:29</a> - - &gt; Normal &amp; Inferior Goods<br><a href="https://www.youtube.com/watch?v=x0scPosOsoI&amp;t=1559">25:59</a> - - &gt; Luxuries &amp; Necessities<br><a href="https://www.youtube.com/watch?v=x0scPosOsoI&amp;t=1689">28:09</a> Effects of Price Change<br><a href="https://www.youtube.com/watch?v=x0scPosOsoI&amp;t=1775">29:35</a> - - &gt; Substitution<br><a href="https://www.youtube.com/watch?v=x0scPosOsoI&amp;t=1990">33:10</a> - - &gt; Compensated Demand<br><a href="https://www.youtube.com/watch?v=x0scPosOsoI&amp;t=2419">40:19</a> - - &gt; Income Effect<br><a href="https://www.youtube.com/watch?v=x0scPosOsoI&amp;t=2661">44:21</a> - - &gt; Inferior &amp; Normal Goods Comparison Table<br><a href="https://www.youtube.com/watch?v=x0scPosOsoI&amp;t=2788">46:28</a> - - &gt; Giffen Goods

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• HE

  @hellohello5944 · 3 years ago (edited)

  SOME MISTAKES IN THE VIDEO TO CONSIDER WHILE TAKING NOTES<br><br>@ <a href="https://www.youtube.com/watch?v=x0scPosOsoI&amp;t=141">2:21</a> bc1 and bc 2 are mixed up<br>@<a href="https://www.youtube.com/watch?v=x0scPosOsoI&amp;t=447">7:27</a> the demand curve should have price on the y axis which is wrongly marked as pizza and point B should have price 9 instead of 7<br><br>👆These are from @yashchugh9132&apos;s comment below.<br><br>👉And also @<a href="https://www.youtube.com/watch?v=x0scPosOsoI&amp;t=2420">40:20</a> , point B should be tangent to the dotted line.

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