Question

Which of the following utility approaches is based on the theory of Alfred Marshal. a) Ordinal utility approaches b) Cardinal utility approach c) Independent variable d) Dependent variable ​

Answer 1

Answer:

(a) Utility Analysis or Cardinal Approach by British economist Prof. Alfred ... (b) In difference Curve Analysis or Ordinal Approach by Prof. ... Alfred Marshall has shown ... In the following figure „c‟ is more preferred to.