Question

81.Hiw
does
the
Consumer
maximize
Satisfaction
through
ordinal
utility approach​

Answer 1

Answer:

Explanation:

Ordinal Utility Approach

It states that satisfaction derivable from consumption of goods cannot be measured in numbers. It uses 'ranks' to describe different levels of utility. Thus, goods that provide a higher level of satisfaction should be assigned higher ranks than those which give the consumer lower satisfaction.

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