One of the assumptions of ordinal utility theory is that

Ade9

9 years ago

Their answer is correct.. ..

We have two types of utility.. .

1. Cardigan utility.. .is d type of utility that can be measured in Utils

2. Ordinal utility.. ..Is d type of utility that can be ranked.. .

GenEmenike

9 years ago

WRONG..

pls change the answer..

Utility is Measurable.

Utility is not ranked.

Utility is power to satifisy a want..So therefore Satisfaction represent Utility.

CORRECT ANSWER IS (D) SATISFACTION IS MEASURABLE

GenEmenike

9 years ago

yap..i have comfirm..the ansa is (B)

Holubukolathomas

9 years ago

The answer is d

Adepojupaul

9 years ago

the answer is correct. Check pg120 of comprehensive economics