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In the year 2035, Uber produces rides using self-driving cars (S) and human drivers (D). Drivers cost $24/hour and self-driving cars cost $50/hour. Ubers hourly
In the year 2035, Uber produces rides using self-driving cars (S) and human drivers (D). Drivers cost $24/hour and self-driving cars cost $50/hour. Ubers hourly production of rides is given by (,)=2/31(2/3). Calculate Ubers marginal rate of technical substitution between self-driving cars and human drivers when =55 and =25, putting the marginal product of self-driving cars in the numerator.
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