Understanding Indifference Curves (IC) and Marginal Rate of Substitution (MRS)|6-Minute Crash Course
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YouTubeLearn Economics with Anjuli
Understanding Indifference Curves (IC) and Marginal Rate of Substitution (MRS)|6-Minute Crash Course
In this 6-minute crash course, master the essentials of Indifference Curves (IC) and Marginal Rate of Substitution (MRS). Learn why ICs are convex, how monotonic preferences shape our choices, and how to calculate the MRS to understand the trade-offs consumers make for maximum satisfaction. 📝 Chapters: 0:00 Introduction 0:30 What are ...
2.6K viewsNov 4, 2024
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Convex vs Concave Lens – See the Difference in 60s! 👀 #Physics #Class10 #CBSE2025 #physicsfun
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