Economy, asked by dancingsuperstar83, 4 months ago

Q.11 Explain whether Utility is measurable?​

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Answered by dineshwari8
3

Answer:

☆ It's difficult to measure a qualitative concept such as utility, but economists try to quantify it in two different ways: cardinal utility and ordinal utility. Both of these values are imperfect, but they provide an important foundation for studying consumer choice ☆.

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