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...
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...