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Nilanjan Bhowmick AIR 3, CSIR NET (Earth Science)
Rucha rajesh shingvekar
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. For example, if a Nissan car gives 5,000 units of utility, a BMW car would give 8,000 units.
can u explain me consumer's equilibrium -one commodity model, two commodity model, multi commodity level