Top-class, lessons. I find myself searching your name with any economic problem I'm having trouble understanding hoping that you have a video on the topic.
I'm confused about the part with the slope possibly having different values. That's not really the case. In your example, the slope isn't either -1 or -1/16, but either -1 *$/lb* or -1/16 *$/oz*, which is, of course, the same thing. Is the problem that economists don't want to work with different units depending on the situation? (I mean, that's what physicists do all the time, but I understand it could be more complicated when using imperial units ;).) Good video, though, thanks.
Great lesson, part of me never ask why until now. Thank you.
Top-class, lessons. I find myself searching your name with any economic problem I'm having trouble understanding hoping that you have a video on the topic.
good explaination thank you sm :)
I'm confused about the part with the slope possibly having different values. That's not really the case. In your example, the slope isn't either -1 or -1/16, but either -1 *$/lb* or -1/16 *$/oz*, which is, of course, the same thing.
Is the problem that economists don't want to work with different units depending on the situation? (I mean, that's what physicists do all the time, but I understand it could be more complicated when using imperial units ;).)
Good video, though, thanks.
Elasalsity Drawing Graph Y to x Graph Line Upwoard to Down Word.