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Question
As per Marshall utility theory utility is _________.
As per Marshall utility theory utility is _________.
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Solution
The correct option is A cardinal
The cardinal approach has come to be known as Marshallian approach. That is because it was proposed by Alfred Marshall. According to cardinal approach, the utility or satisfaction obtained from the consumption of goods and services can be measured by an imaginary unit called Utils.
The cardinal approach has come to be known as Marshallian approach. That is because it was proposed by Alfred Marshall. According to cardinal approach, the utility or satisfaction obtained from the consumption of goods and services can be measured by an imaginary unit called Utils.
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