Youtubedia
Intermediate microeconomics
Chapter 4
Lectures on choice
Optimal choice
Unique optimal choice
First order condition for optimal choice
Mathematical formulation of optimal choice and the Lagrangian
Three strategies for finding the optimal choice
Optimal choice when preferences are not well behaved
Optimal choice for discrete goods and quasi linear preferences
Optimal choice for Cobb-Douglas preferences
Lectures on demand
Demand functions and their dependence on income
Income offer curve and Engel curve
Homothetic preferences
Homogenous of degree 1
Examples of homothetic preferences
Homothetic preferences: results
Demand with quasilinear preferences
Demand functions and their dependence on price
Demand for discrete goods
Toggle Sidebar
Chapter 4
Previous page
Next page
Unique optimal choice
Like
Summary
If preferences are well-behaved then the optimal choice is
unique
.