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Title: Lecture 16: Welfare Consequences of a Price Change View count: 164 Rating: 5.0 (5 ratings) Description: In this video, I introduce two measures of consumer welfare: compensating variation and equivalent variation. In the process of introducing these concepts, I demonstrate how to identify CV and EV graphically, and I give an intuition for how these compensation techniques measure consumer welfare. Tags: consumer welfare, compensating variation, equivalent variation, hicks decomposition, microeconomics, microeconomics lectures, welfare effects, welfare consequences, income effects, Author: intromediateecon |
