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What extent is ordinal utility approach an advantage to cardinal utility approach?
cardinal utility
To what extent is the ordinal utility approach an improvement of cardinal approach?
to what extent is ordinal utility approach and improvement cardinal in explaining consumer behaviour in economics
How does cardinal utility approach explain consumer behaviour?
When we can not measure in terms of money but we can measure of lavel of satisfaction then it is called cardinal approach
Differentiate between cardinal and ordinal theories of consumer behavior?
. Cardinal Approach refers that you can calculate or Measure the utility (degree of satisfaction) Numerically, while According to ordinal approach you can not measure the utility numerically. 2. Cardinal Approach follow the Law of Diminishing Marginal Utility while Ordinal Approach follow the Indifference Curve. 3.Cardinal Approach Emphasis on units while ordinal approach is based on rank.
'Ordinal approach is rational than cardinal approach' critically evaluate this statement?
'Ordinal approach is rational than cardinal approach' This statement is not a properly formed phrase, please ask questions that make sense.
Define cardinal approach?
The cardinal approach in a careful approach that states that utility is measurable. The ordinal approach disagrees with this theory.
What extent is ordinal utility approach an advantage to cardinal utility approach?
cardinal utility
To what extent is the ordinal utility approach an improvement of cardinal approach?
to what extent is ordinal utility approach and improvement cardinal in explaining consumer behaviour in economics
How does cardinal utility approach explain consumer behaviour?
When we can not measure in terms of money but we can measure of lavel of satisfaction then it is called cardinal approach
Differentiate between cardinal and ordinal theories of consumer behavior?
. Cardinal Approach refers that you can calculate or Measure the utility (degree of satisfaction) Numerically, while According to ordinal approach you can not measure the utility numerically. 2. Cardinal Approach follow the Law of Diminishing Marginal Utility while Ordinal Approach follow the Indifference Curve. 3.Cardinal Approach Emphasis on units while ordinal approach is based on rank.
'Ordinal approach is rational than cardinal approach' critically evaluate this statement?
'Ordinal approach is rational than cardinal approach' This statement is not a properly formed phrase, please ask questions that make sense.
A Explain the difference between cardinal and ordinal approach of consumer behavior?
1. Cardinal Approach refers that you can calculate or Measure the utility (degree of satisfaction) Numerically, while According to ordinal approach you can not measure the utility numerically. 2. Cardinal Approach follow the Law of Diminishing Marginal Utility while Ordinal Approach follow the Indifference Curve. 3.Cardinal Approach Emphasis on units while ordinal approach is based on rank. BY SUMIT SONI(IITTM)
Cardinal utility approach?
The cardinal utility approach also known as classical approach is a measurable utility that expressed an exact unit and measurable monetary terms. In welfare economics if a form of utility program routine is cardinal, interpersonal comparisons of utility differences are allowed.
Explain cardinal utility approach?
it can be expressed in exact unit and is measurable in monetary terms.
What are the similarities between cardinal and ordinal approach?
they both obey the diminishing returns theory
Differences between cardinal and ordinal utility approach?
A difference is that with ordinal utility approaches, you cannot numerically measure the level of consumer satisfaction. With cardinal utility approaches, you can to an extent.
What is consumer equilibrium under cardinal approach?
illustrate and explain e the consumer equilibrium ender cardinalist and ordinalist?
