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Cardinal utility theory assumes that consumers can a) rank-(Answered)

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Question

Cardinal utility theory assumes that consumers can

a) rank baskets of goods as to their preference.

b) determine the number of utils that can be derived from consuming all goods.

c) determine the marginal rate of substitution between goods.

d) avoid the law of diminishing marginal utility.

e) all of the above

 

Paper#9209095 | Written in 27-Jul-2016

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