Question

explain ordinal utility and cardinal utility.

Answer 1

Explanation:

Cardinal utility is the utility wherein the satisfaction derived by the consumers from the consumption of good or service can be measured numerically. ... Ordinal utility states that the satisfaction which a consumer derives from the consumption of product or service cannot be measured numerically.

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Answer 2

Answer:

Cardinal utility is the utility wherein the satisfaction derived by the consumers from the consumption of good or service can be measured numerically. ... Ordinal utility states that the satisfaction which a consumer derives from the consumption of product or service cannot be measured numerically