In economics, a budget constraint represents all the combinations of goods and services that a consumer may purchase given current prices within his or her given income. Consumer theory uses the concepts of a budget constraint and a preference map as tools to examine the parameters of consumer choices . Both concepts have a ready graphical representation in the two-good case. The consumer can only purchase as much as their income will allow, hence they are constrained by their budget. The equation of a budget constraint is where P_x is the price of good X, and P_y is the price of good Y, and m = income. (Wikipedia).
Computing Limits from a Graph with Infinities
In this video I do an example of computing limits from a graph with infinities.
From playlist Limits
From playlist Courses and Series
Lagrange Multipliers - Two Constraints
Thanks to all of you who support me on Patreon. You da real mvps! $1 per month helps!! :) https://www.patreon.com/patrickjmt !! Lagrange Multipliers - Two Constraints. In this video, I show how to find the maximum and minimum value of a function subject to TWO constraints using Lagrang
From playlist All Videos - Part 8
Unit 2 - consumer demand part 3
From playlist Courses and Series
Lagrange multipliers: 2 constraints
Free ebook http://tinyurl.com/EngMathYT A lecture showing how to apply the method of Lagrange multipliers where two contraints are involved.
From playlist Lagrange multipliers
Evaluating Limits Definition of Derivative
I work through 2 example evaluating the limit definition of a derivative. Check out http://www.ProfRobBob.com, there you will find my lessons organized by chapters within each subject. If you'd like to make a donation to support my efforts look for the "Tip the Teacher" button on my chann
From playlist Calculus (New)
Part 1: Formal Definition of a Limit
This video states the formal definition of a limit and provide an epsilon delta proof that a limit exists. complete Video Library at http://www.mathispower4u.com
From playlist Limits
What is a Debt Ceiling? (and How Does it Work?)
Explained simply, the debt ceiling is a legislative limit on the amount of national debt that can be incurred by the U.S. Treasury. It limits the amount of money the federal government may pay on the debt that they already borrowed. The raising the debt ceiling doesn’t actually mean comm
From playlist Concerning Finance
This video covers the properties of limits and verifies them graphically.
From playlist Limits
3. Budget Constraints and Constrained Choice
MIT 14.01 Principles of Microeconomics, Fall 2018 Instructor: Prof. Jonathan Gruber View the complete course: https://ocw.mit.edu/14-01F18 YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G- This lecture continues the discussion about consumer choice
From playlist MIT 14.01 Principles of Microeconomics, Fall 2018
Lec 5 | MIT 14.01SC Principles of Microeconomics
Lecture 5: Budget Constraints Instructor: Jon Gruber, 14.01 students View the complete course: http://ocw.mit.edu/14-01SCF10 License: Creative Commons BY-NC-SA More information at http://ocw.mit.edu/terms More courses at http://ocw.mit.edu
From playlist MIT 14.01SC Principles of Microeconomics
MIT 14.04 Intermediate Microeconomic Theory, Fall 2020 Instructor: Prof. Robert Townsend View the complete course: https://ocw.mit.edu/courses/14-04-intermediate-microeconomic-theory-fall-2020/ YouTube Playlist: https://www.youtube.com/watch?v=XSTSfCs74bg&list=PLUl4u3cNGP63wnrKge9vllow3Y2
From playlist MIT 14.04 Intermediate Microeconomic Theory, Fall 2020
8.4.6 R8. Google AdWords - Video 5: Solving the Problem
MIT 15.071 The Analytics Edge, Spring 2017 View the complete course: https://ocw.mit.edu/15-071S17 Instructor: Velibor Misic How to solve the problem using LibreOffice. License: Creative Commons BY-NC-SA More information at https://ocw.mit.edu/terms More courses at https://ocw.mit.edu
From playlist MIT 15.071 The Analytics Edge, Spring 2017
4. Demand Curves and Income/Substitution Effects
MIT 14.01 Principles of Microeconomics, Fall 2018 Instructor: Prof. Jonathan Gruber View the complete course: https://ocw.mit.edu/14-01F18 YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G- Prof. Gruber begins the lecture by explaining how to deriv
From playlist MIT 14.01 Principles of Microeconomics, Fall 2018
Lec 6 | MIT 14.01SC Principles of Microeconomics
Lecture 6: Deriving Demand Curves Instructor: Jon Gruber, 14.01 students View the complete course: http://ocw.mit.edu/14-01SCF10 License: Creative Commons BY-NC-SA More information at http://ocw.mit.edu/terms More courses at http://ocw.mit.edu
From playlist MIT 14.01SC Principles of Microeconomics
Meaning of Lagrange multiplier
In the previous videos on Lagrange multipliers, the Lagrange multiplier itself has just been some proportionality constant that we didn't care about. Here, you can see what its real meaning is.
From playlist Multivariable calculus
Episode 19: Indifference Curve Analysis
Using Indifference Curve Analysis to determine a consumer's buying choice given income, prices, and preferences. NOTE: The scenario results that I go through at the end of the video are ENTIRELY dependent on the shape of the preferences. You may find that you get slightly different results
From playlist Microeconomics modules
Combinatorial Markets with Covering Constraints: Algorithms and Applications by Ruta Mehta
Algorithms and Optimization https://www.icts.res.in/discussion-meeting/wao2018 DATES: 02 January 2018 to 03 January 2018 VENUE : Ramanujan Lecture Hall, ICTS Bangalore DESCRIPTION: The goal of this discussion meeting is to bring together leading young researchers in the areas of algori
From playlist Algorithms and Optimization
"RM Models for Online Advertising and On-Demand Platforms" by Florin Ciocan - Session I
This mini-course focuses on revenue management applications in online advertising and on-demand platforms with time-sensitive customers that give rise to novel matching and queueing models. For example, online advertising platforms match impressions supply to advertiser demand, whereas on-
From playlist Thematic Program on Stochastic Modeling: A Focus on Pricing & Revenue Management
Limit doesn't exist 2 variables example
Example of how to show a limit doesn't exist for a function of 2 variables.
From playlist Engineering Mathematics