The chief exponent of the Cardinal utility approach was
a. J.R.Hicks
b. R.G.D.Allen
c. Marshall
d. Stigler
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It was Alfred Marshall who had first discussed the role that is played by the theory of utility in the theory of value .
In Alfred Marshall' theory we get to know that the concept of utility is cardinal.
The price that the consumer is keen on paying will be an indication of the good to the consumer. total utility of a consumer refers to the units that is consumed by the the consumer from all of the goods.
In Alfred Marshall' theory we get to know that the concept of utility is cardinal.
The price that the consumer is keen on paying will be an indication of the good to the consumer. total utility of a consumer refers to the units that is consumed by the the consumer from all of the goods.
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