Cardinal Utility Analysis: Lecture 1 | Marshall's Approach

Welcome to Part 1 of our dedicated lecture series on Marshall's Cardinal Utility Analysis and Consumer Equilibrium! 📈 In this first part, we establish what utility means, analyze the relationship between Total Utility (TU) and Marginal Utility (MU), explore the core assumptions, and understand the Law of Diminishing Marginal Utility as well as unpack its three stages. Watch other parts (Playlist):    • Microeconomics | Utility Analysis   --- ⏱️ Video Chapters / Timestamps: 00:00 Introduction of Utility 01:40 What is Utility? 04:45 Marshall's Cardinal Utility 06:23 Utils, Total Utility & Marginal Utility 09:10 TU and MU Schedule 19:55 Marginal Utility of Money 21:20 TU and MU Graph 25:20 Law of Diminishing Marginal Utility First Explanation 27:33 TU v/s MU 28:38 Assumptions of Cardinal Utility Analysis 31:25 Law of Diminishing Marginal Utility Main Explanation 38:20 Three Stages of Law of DMU --- 🔔 Don't forget to LIKE, SHARE, and SUBSCRIBE! Click the notification bell so you don't miss Part 2 ! Where we dive deep into Single-Commodity Equilibrium (MUx = Px), Multi-Commodity Equilibrium (Law of Equi-Marginal Utility), Consumer Surplus, and Major Criticisms! #microeconomics #marginalutility #cueteconomics #ugcneteconomics #mba #bba #baeconomics #bcom