I'm given the following utility function (utility expressed as a function of consumption and leisure):

U(C,L) = (C-240) (L-80)

I need to find the marginal rate of substitution for it.

I know I just need to derive it, since the MRS is the slope of the curve. This function represents an indifference curve, so I know it will have negative slope and be convex.

I'm just derping and can't think of how this should be derived. I'm more used to deriving Cobb-Douglas functions, so this is tripping me up for some reason. I need to sketch a picture, so I need to know how steep the slope is.

any help would be appreciated.

do you just need the derivative?

d U(C,L)/dL (respect to leisure) = (C-240)

d U (C,L)/dC (respect to consumption) = (L-80)

lol I think this is right?

I also believe that it correct. It was a simple matter of taking partial derivatives, and that's what I was failing to see.

>_>'

I just learned it a couple weeks ago in Calc 3 and it is just a nifty concept. helps me out too cuz I took micro econo a few years back (macro was frigging awesome for a first semester of college)