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Lecture 2: Consumer Choice
Description
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=PLUl4u3cNGP63wnrKge9vllow3Y2OOOKqF
How should rational consumers decide what to buy? Economists break the problem down into its component parts: feasible available commodity bundles, preferences over goods and services, and budget constraints.
License: Creative Commons BY-NC-SA
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