One of the assumptions of the cardinal approach is

One of the assumptions of the cardinal approach is

Economics

JAMB 2013

One of the assumptions of the cardinal approach is

A. diminishing marginal rate of substitution
B. the consistency and transitivity of choice
C. that total utility depends on the quantity of the commodities consumed
D. unstable marginal utility of money

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Correct Answer: Option C

Explanation

According to the Cardinalist school, the utility/satisfaction which is derived from the consumption of a good is a function of the quantity of that good alone.

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One of the assumptions of the cardinal approach is

Correct Answer: Option C

Explanation

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