Can you explain why taking a monotonic transformation of a utility function doesn’t
change the marginal rate of substitution?
https://www.onlinefreelancersnetwork.com/wp-content/uploads/2020/08/logoOFN.png00Frank Mainhttps://www.onlinefreelancersnetwork.com/wp-content/uploads/2020/08/logoOFN.pngFrank Main2021-07-21 16:49:282021-07-21 16:49:28Can you explain why taking a monotonic transformation of a utility function doesn’t change the marginal rate of substitution?