Shaista naaz Asked a Question
January 27, 2021 11:13 pmpts 1 pts
Which of the following are not the assumptan related to the theory of consumer behaviour as the cardinal utility approach? 1. Rational consumer 2. Unlimited money income 3. Utility cardinally measurable 4. Diminishing marginal utility of money 5.Constant marginal utility of commodities 6. Maximisation of satisfaction 7.Utility is additive
  • 1 Answer(s)
  • Shares
  • Kalai thankyou
    Cardinal utility theory measure utility in numbers and thus additivity of utility is notnecessary for cardinal utility theory.
    Likes(0) Reply(0)