Published On Feb 29, 2012
I show a trick for finding the Marginal Rate of Substitution function if you have a Cobb Douglas utility function. Works for MRTS (marginal rate of technical substitution) as well. If you want to know why I use U=(x^a)(y^b) rather than U=(x^a)(y^(1-a)), see video here: • Do Cobb Douglas Utility Exponents HAV...
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