Question

briefly distinguish between the cardinal utility approach and ordinal utility approach to consumer behavior . explain with illustration the law of eventual diminishing marginal utility ?

Answer 1

Cardinal utility analysis is an oldest theory of demand which provides an explanation of cosumers demand. For a product and derives the law of demand which establishes an inverse relationship between price and quantity demand of product

Answer 2

Explanation:

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SER has no ribosomal particles on thesurface, hence look smooth. It helps in manufacturing of lipids and fat molecules. RER has particles of ribosome on the surface, therefore are rough in texture.