3
Question
Utility can be measured cardinally.
Utility can be measured cardinally.
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Solution
The correct option is B False
Utility is always measured ordinally. You are assuming ordinal utility which a consumer can rank as the combination of goods depending on the utility he derives from it.
Utility is always measured ordinally. You are assuming ordinal utility which a consumer can rank as the combination of goods depending on the utility he derives from it.
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