A.8 Consumption duality | Consumption - Microeconomics

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Versión en español:    • A.8 Dualidad de consumo | Consumo - M...  

This video shows how useful a good understanding of consumption duality can be. Starting with utility maximisation and cost minimisation, this video explores everything you need to understand about consumer theory. We also explain formulas such as Roy's identity or the Hotelling/Shephard lemma.

Related videos:
-Utility maximisation:    • A.6 Utility maximisation | Consumptio...  
-Cost minimisation:    • A.7 Cost minimisation | Consumption -...  

Related articles:
-Utility function: http://www.policonomics.com/utility/
-Cost minimisation: http://www.policonomics.com/cost-mini...

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