Supply and Market Supply

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Supply: Effect of Substitutes and Complements

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Factors Affecting Supply

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Market Equilibrium

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Few Examples

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Application: Price Control

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Consumer Surplus

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Producer Surplus

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Total Surplus

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Effect of Price Control on Surplus

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Lecture-22 Implications of Market Equilibrium

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Lecture-23 Price Elasticity of Demand

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Lecture-24 Elastic, Inelastic and Unit- elastic Demand

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Lecture-25 Perfectly Elastic and Perfectly Inelastic Demand

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Lecture-26 More on Elasticity

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Lecture-27 Factors Affecting Price Elasticity of Demand

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Lecture-28 Effect of Taxation

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Lecture-29 Tax Imposed on Seller

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Lecture-30 Incidence of Tax

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Lecture-31 Incidence of Tax: Four Extremes

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Lecture-32 Incidence of Tax: Effect on Surplus

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Lecture-33 Towards Consumer Theory

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Lecture-34 Budget Line and Budget Set

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Lecture-35 Factors Affecting the Budget Line

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Lecture-36 Few Examples of Changes in Budget Line

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Lecture-37 Consumption Set

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Lecture-38 Convexity of Consumption Set

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Lecture-39 Describing Utility

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Lecture-40 Some Axioms

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Lecture-41 Preferences as a Mathematical Construct

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Lecture-42 Rationality in Real Life Vs. Rationality in Economics

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Lecture-43 More on Three Axioms of Rationality

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Lecture-44 Defining Utility Function

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Lecture-45 Ordinal Vs. Cardinal Utility

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Lecture-46 Properties of Preferences: Continuity

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Lecture-47 Indifference Set

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Lecture-48 Indifference Curve

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Lecture-49 Behavioural Assumption: More is Better

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Lecture-50 Properties of Preferences: Convexity

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Lecture-51 Marginal Rate of Substitution (MRS)

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Lecture-52 DMRS and Convexity: Example

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Lecture-53 Summary

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Lecture-54 Utility Maximization

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Lecture-55 Utility Maximization: tangency criterion

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Lecture-56 More on Utility Maximization

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Lecture-57 Utility Maximization: Example

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Lecture-58 Example Revisited

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Lecture-59 Marginal Utility Vs. Marginal Rate of Substitution (MRS)

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Lecture-60 Perfect Substitutes

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Lecture-61 Perfect Complements

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Lecture-62 An Example with Quasi Linear Preferences

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Lecture-63 Demand Revisited

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Lecture-64 Effect of Income on Quantity Demanded

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Lecture-65 Effect of Change in Price

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Lecture-66 Substitution Effect and Income Effect

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Lecture-67 Giffen Good

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Lecture-68 Expenditure Minimization as a Dual Problem of Utility Maximization

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Lecture-69 Marshallian and Hicksian Demand Function

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Lecture-70 Slutsky Equation

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Lecture-71 An Application: Subsidy Vs. Direct Benefit Transfer

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Lecture-72 Towards Producer Theory

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Lecture-73 Technology or Production Function

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Lecture-74 Isoquants

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Lecture-75 Few Axioms Related to Technology

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Lecture-76 Axioms/ Assumptions Continued

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Lecture-77 Production in Short Run

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Lecture-78 Average and Marginal Product of Labour (APL & MPL)

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Lecture-79 More on APL and MPL

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Lecture-80 Law of Diminishing Marginal Returns

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Lecture-81 Production in Long Run

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Lecture-82 MRTS: Few Examples

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Lecture-83 Decreasing MRTS

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Lecture-84 Elasticity of Substitution

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Lecture-85 Returns to Scale

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Lecture-86 Elasticity of Scale

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Lecture-87 Economic Terminology: Opportunity Cost

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Lecture-88 Economic Terminology: Sunk Cost

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Lecture-89 Economic Terminology: Economic Profit and Accounting Profit

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Lecture-90 Diminishing Marginal Product Vs. DMRTS

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Lecture-91 Returns to Scale through Graphs

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Lecture-92 Cost in Long Run

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Lecture-93 Cost Minimization

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Lecture-94 Cost Minimization: Few Examples

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Lecture-95 Cost Minimization: Cobb-Douglas Production Function

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Lecture-96 More on Cost Minimization

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Lecture-97 Cost Function in the Long Run

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Lecture-98 Cost in Short Run: TC, FC and VC

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Lecture-99 Cost in Short Run: MC

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Lecture-100 Shape of Cost Curves

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Lecture-101 Factor Demand Function

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Lecture-102 Output Expansion Path

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Lecture-103 Cost Revisited: Quasi Fixed Cost

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Lecture-104 Cobb-Douglas Function: Cost and Returns to Scale

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Lecture-105 Short Run Vs. Long Run Cost Minimization

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Lecture-106 Short Run Vs. Long Run Cost Minimization Through Graphs

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Lecture-107 Average Cost in Short Run Vs. Long Run

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Lecture-108 Short Run Marginal Cost Vs. Long Run Marginal Cost

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Lecture-110 Marginal Revenue

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Lecture-109 Profit Maximization

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Lecture-111 Profit Maximization in Short Run Through Graphs

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Lecture-112 Profit Maximization in Short Run Through Algebra and Calculus

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Lecture-113 Market Environment

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Lecture-114 Perfectly Competitive Market

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Lecture-115 Supply Curve

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Lecture-116 An example obtaining the short run supply function

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Lecture-117 Two Interpretation of Supply Function

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Lecture-118 Profit maximization implies cost minimization

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Lecture-119 Producer’s Surplus Revisited

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Lecture-120 Profit Maximization and Returns to Scale

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Lecture-121 Short Run Supply Vs. Long Run Supply

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Lecture-122 Long Run Equilibrium and Supply Function

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Lecture-123 Introduction to Monopoly

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Lecture-124 Marginal Revenue of the Monopolist

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Lecture-125 Monopoly: Price Elasticity of the Demand and MR

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Lecture-126 Profit Maximization for the Monopolist

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Lecture-127 Inverse Elasticity Pricing Rule

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Lecture-128 Profit Maximization for the Monopolist through Graph

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Lecture-129 No Supply Function for Monopoly

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Lecture-130 Monopoly: Comparative Statics

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Lecture-131 Imposition of the Tax on the Monopolist

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Lecture-132 Welfare Effects of Monopoly Pricing

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Lecture-133 Price Discrimination

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Lecture-134 Monopoly: Example

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Lecture-135 Responses from Policy Makers

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Lecture-136 Introduction to Oligopoly

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Lecture-137 Nash Equilibrium

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Lecture-138 Cournot Model of Duopoly

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Lecture-139 Stackelberg Model of Duopoly

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Lecture-140 Bertrand Model of Duopoly

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Lecture-141 Market Environment: Comparison Table

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