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...
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...
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...
The Law of Diminishing Marginal utility is the main focus of this educational video by FLAME. Prof. Rajeshwari explains the concept of 'utility' and 'marginal...
In this video, I use calculus to derive the relationship between marginal rate of substitution and the marginal utilities of the two goods. Check out...