Economy, asked by gurdeepd937, 5 months ago

7)Which of the following utility approach suggests that utility is a measurable and quantifiable entity

Answers

Answered by vivekvikky8154

Explanation:

Cardinal utility approach is based on the fact that the exact or absolute measurement of utility is not possible. However, modern economists rejected the cardinal utility approach and introduced the concept of ordinal utility for the analysis of consumer behavior

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