Cardinal & Ordinal Measurement & Cardinal Approach
Please see the attached file for full problem description.
1. Cardinal & ordinal measurement in shortcoming of Ic curve
2. optimum level of consumption in cardinal Approach.
This question has the following supporting file(s):
Cardinal & Ordinal Measurement & Cardinal Approach is highlighted.
This answer includes:
- Plain text
- Cited sources when necessary
- Attached file(s)
- Cardinal and Ordinal utility.doc
Active since 2003
Extracted Content from Question Files:
Differentiate between Cardinal and Ordinal measurement of
utility. Explain also the shortcomings of Indifference curve
How can consumer attain optimum level of consumption in Cardinal
Approach in case of:
a. One good consumed.
b. More than one good consumed.