Question

12. The concept of cardinal utility was given by
a. A. Marshall
b. J.R. Hicks
C. P. 'Samuelson
d. J.M keynes

Answer 1

Answer:

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It was Alfred Marshall who first discussed the role played by the theory of utility in the theory of value. In Marshall's theory, the concept of utility is cardinal. The price that a consumer is willing to pay for a good is an indication of the utility of that good to the consumer.

Answer 2

Answer:

It was Alfred Marshall who first discussed the role played by the theory of utility in the theory of value.

Explanation:

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