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16a. More on CV and EV

In this video, I use calculus and some basic algebra to augment the graphical intuition from Lecture 16 on compensating and equivalent variation. In particular, I demonstrate how CV and EV are areas under Hicksian demand curves, and use this intuition to argue that these concepts are closely related to changes in consumer surplus. For a list of videos and links to them (organized by topic), check out the Intromediate Microeconomics video web page: http://blog.thisyoungeconomist.com/p/learn-microeconomics.html
Length: 06:48

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