Under Marginal utility analysis, utility is assumed to be a

1.	Under Marginal utility analysis, utility is assumed to be a
Answer» Cardinal concept Under Marginal utility analysis, utility is assumed to be a Cardinal concept. The Cardinal Utility APPROACH is propounded by neo-classical economists, who believe that utility is MEASURABLE, and the CUSTOMER can express his SATISFACTION in cardinal or QUANTITATIVE numbers, such as 1,2,3, and so on.

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Cardinal concept

Under Marginal utility analysis, utility is assumed to be a Cardinal concept. The Cardinal Utility APPROACH is propounded by neo-classical economists, who believe that utility is MEASURABLE, and the CUSTOMER can express his SATISFACTION in cardinal or QUANTITATIVE numbers, such as 1,2,3, and so on.

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Under Marginal utility analysis, utility is assumed to be a

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