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Indifference Curves with Goods and Bads

Summary:
This video shows what indifference curves look like when goods can be "bads"- i.e. can give consumers negative utility. Examples of bads include pollution, noise, and so on, and consumption of such goods can be incorporated into the standard utility maximization or consumer choice framework in a pretty straightforward way. By Jodi Beggs - Economists Do It With Models http://www.economistsdoitwithmodels.com Facebook: http://www.facebook.com/economistsdoitwithmodels Twitter: http://www.twitter.com/jodiecongirl Tumblr: http://economistsdoitwithmodels.tumblr.com

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This video shows what indifference curves look like when goods can be "bads"- i.e. can give consumers negative utility. Examples of bads include pollution, noise, and so on, and consumption of such goods can be incorporated into the standard utility maximization or consumer choice framework in a pretty straightforward way. By Jodi Beggs - Economists Do It With Models http://www.economistsdoitwithmodels.com Facebook: http://www.facebook.com/economistsdoitwithmodels Twitter: http://www.twitter.com/jodiecongirl Tumblr: http://economistsdoitwithmodels.tumblr.com Indifference Curves with Goods and Bads

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