Question

what is cardinal utility theory



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Answer 1

Answer:

Cardinal Utility is the idea that economic welfare can be directly observable and be given a value. For example, people may be able to express the utility that consumption gives for certain goods. ... The idea of cardinal utility is important to rational choice theory.

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Answer 2

Answer:

A type of idea

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Explanation:

Cardinal Utility is the idea that economic welfare can be directly observable and be given a value. For example, people may be able to express the utility that consumption gives for certain goods. ... The idea of cardinal utility is important to rational choice theory.