Rating is available when the video has been rented.
This feature is not available right now. Please try again later.
Published on Oct 21, 2009
In this video, I clarify the role of diminishing marginal utility in the study of demand curves. In particular, I present a series of examples that demonstrate why diminishing marginal utility is not necessary (or sufficient) for deriving a downward-sloping demand curve.
The first part of the video relies strictly on graphs and intuition. The second part of the video uses calculus to provide a more tangible example.
For a list of videos and links to them (organized by topic), check out my video web page: