Explain cardinal approach to consumer equilibrium in detail

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 fo...

Definition: The Cardinal approach to Consumer Equilibrium posits that the consumer reaches his equilibrium when he derives the maximum satisfaction for given resources (money) and ...

dear student cardinal means which can be explained in mathematical units. Cardinal utility, is based on marginal utility analysis. As against this, the concept of ordinal utility i...