Economy, asked by Anonymous, 5 months ago

ordinal concept of utility expresses utility in terms of____

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Answered by Snehpreetkaur92

In ordinal concept of utility, utility is ranked in the order of preference of the consumer. Utility cannot be measured in cardinal numbers in ordinal utility theory. Ordinality means that utility can be ranked.

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Answered by sumul

Answer:

In ordinal concept of utility, utility is ranked in the order of preference of the consumer. Utility cannot be measured in cardinal numbers in ordinal utility theory. Ordinality means that utility can be ranked

Explanation:

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