The only difference between this and the original is that I increased the volume on the audio... An experiment in consumption illustrates one of the...
This video introduces the Cobb-Douglas utility function for two goods and demonstrates some of its properties. I demonstrate how to compute marginal rate of substitution...
Mr. Clifford's 60 second explanation of utility maximization including how to calculate utility per dollar.Please keep in mind that these clips are not designed to...
In this video, I explain the concepts of Marginal Rate of Substitution (MRS) and Marginal Utility. I then offer a non-calculus-based motivation for the formula...
In this video, I introduce quasilinear utility. I show how to compute marginal rate of substitution for quasilinear utility, as well as the result that...