General Equilibrium Theory Made Simple | The Role of Relative Prices and the Budget Constraint скачать в хорошем качестве

General Equilibrium Theory Made Simple | The Role of Relative Prices and the Budget Constraint

General Equilibrium Theory Made Simple | The Role of Relative Prices and the Budget Constraint Welcome to this introduction to General Equilibrium Theory — a key concept in microeconomics that explains how markets and individuals reach balance through interaction. In this video, we unpack the core assumptions behind general equilibrium, explore the Edgeworth Box diagram, and show how mutual gains from trade lead to Pareto-efficient outcomes. You’ll learn how the marginal rate of substitution (MRS), indifference curves, and contract curve fit together to illustrate equilibrium between two consumers and two goods. Whether you’re a student or simply curious about how economists model exchange and efficiency, this video gives you a clear, step-by-step foundation for understanding general equilibrium. 👍 Don’t forget to like, subscribe, and hit the bell for more geospatial tutorials! 💬 Drop your questions or share your results in the comments! 🔔 Subscribe and hit the bell icon so you don't miss the next part of the QUEST! 👍 Enjoying our content? Don't forget to hit the like button to show your support! Subscribe to stay updated with our latest tutorials and join our community of Earth enthusiasts. We love hearing from you, so leave a comment below with your thoughts, questions, or suggestions. Let's connect and explore the wonders of our planet together! 🌍✨Cheers and Remember I will see YOU on the other side!!! (ecoreports@gmail.com)