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...
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...
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...
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...