As per the law of diminishing marginal utility,measurement of utility is assumed to be .........................
option
a)ordinal
b)cardinal
c)both ordinal and cardinal d)none of the above
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Answer:
c) both ordinal & cardinal
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Answer:
i think the answer is option 'c'.
Explanation :Top 6 Difference Between Cardinal And Ordinal Utility
Cardinal UtilityOrdinal Utility MeasurementUtility is measured on the basis of utilsUtility is ranked on the basis of satisfactionRealisticIt is less practical.It is more practical and sensible.
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