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Utility & Consumer's Equilibrium · Question 4 of 73

Question 4

EasyOriginal question

Utility is measured in cardinal analysis in

Options for question 4

Show the answer and explanation
CorrectNot quiteAnswer C

Correct answer: C

Explanation

  1. The cardinal approach assumes utility can be counted in units called utils.

  2. Ranking without numbers is the ordinal approach, used with indifference curves.

Concept
Unit of utility
Typical time
40 s
Your time
—
The rule this testsTotal and marginal utility
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Ten questions from Utility & Consumer's Equilibrium, at your own pace.

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Ten questions from Utility & Consumer's Equilibrium, at your own pace.

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