mention limitation of cardial theory
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The cardinal utility theory has three basic limitations as follows : Utility cannot be cardinally measured. Hence, the assumption that utility derived from the consumption of various commodities can be measured and expressed in quantitative terms is very unrealistic….
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What are the limitations of cardinal utility approach?
1. Learning Objectives
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The cardinal utility theory has three major flaws. First, utility cannot be measured cardinally. As a result, it is implausible to believe that utility generated from the consumption of multiple goods can be quantified and articulated.
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