Three Measures of Consumer Welfare: Compensating Variation, Equivalent Variation, Consumer Surplus

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How to calculate CV, EV and change in consumer surplus from a price change.

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This video explained to me what 132 slides couldn't. Thanks!

anki
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One of the best videos on this lesson. Super duper helpful

cartilo
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I was just examined on this 3 days ago!
Anyway great stuff, most useful uni econ tutor on the internet :)

Explorer
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Donated cuz u saved me for midterm. Pls keep saving me tysm!

lalalander
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Couldn't be any more simpler...thanks a lot.

ThobelaGoge
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Hi there, How do we find the utility function of society when it comes to prepare some compensation policy due to price increase of an administered price?

pututp
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Sir
How to find ev if u(x, y)=x+y
Income=8
Orignal price of x=4 & y=2
Then price of x falls to 1.

abdulrahmanqadeer
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Hi sir. I used this same method for quasi-linear utility function but EV is different from CV. However, understand that EV=CV in case of quasi-linear. Please advise. Thanks.

beomkomap
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Hey, kindly help me with this question.

When is the equivalent variation equal to compensatory variation which is equal to
consumer surPlus?
A. When income effect is equal to zero
B. When income effect is less than one
C. When income effect is equal to substitution
D. When income effect is greater than one

aakritiaggarwal
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in equivalent variation why is the budget after price change also being taken as 10?

chinmayasreeram
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Sir how to find EV and CV when price decreased?

nafeulferdousshopnil
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What if demand for X depends on Y? You have used a poor example to help many problems as your MUy differentiates to 1

HJProductions
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In the CS equation how the square upon Px is gone?

sarahsparsha
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graphical representation would have been helpful

juliano.