Marginal Utility, Formula, Calculation & Examples - Video & Lesson Transcript
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Consumer Utility, Marginal Utility, and Marginal Rate of Substitution
A consumer has utility function μ = u(x,y) which assigns utility numbers μ to baskets of commodities (x, y) as follows: u(10, 12) = 19, u(13,13) = 29, u(11, 11) = 20
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