Differentiate between cardinal utility approach and indifference curve approach
Question
Differentiate between cardinal utility approach and indifference curve approach
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Solution 1
Sure, here is the differentiation between the cardinal utility approach and the indifference curve approach:
- Basis of Theory:
- Cardinal Utility Approach: This approach is based on the assumption that utility can be measured and expressed in cardinal numbers like 1, 2, 3, etc.
- Indifferen Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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