
Question on MRS.
L= leisure time
C = consumpition
I somehow understand this equation (?L * MUL) + (?C * MUC) = 0 because of points on the indifference curve, the total utility won't change.
But MUL would change when L changes, such as MUL =10 when L=4 and MUL=5 when L =3. Why is ?L * MUL equal total change in utility of L and the same for consumption? For me it should be ?L * average utility of L = ?C * average utility of C

Question on MRS. L= leisure time C = consumpition I somehow understand this equation (?L *...
It is about marginal rate of substitution.
C stands for consumption
L stands for leisure time
U(C, L) = f(C, L)
I understand that in order to stay on the indifference curve,
the increase in utility of C should be equal to the decrease in
utility of L (suppose I exchange L for C).
My problem is why the equation is ẟL * MUL + ẟC * MUC = 0 and
MRS= MUL / MUC . Does the first equation...
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Question 3 and 4 please ! Please go step by step so I
can fully understand the solution. thank you !
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