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The ordinalist approach of utility postulated that utility can be

Economics
JAMB 2015
The ordinalist approach of utility postulated that utility can be
  • A. Rank
  • B. Measurable
  • C. Rise
  • D. Fall
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Correct Answer: Option A
Explanation
The ordinalist approach explains that an individual can rank boundless of goods in order of preference with regard to the satisfaction they give him or her. Ordinalist approach is explained by means of different curves and budget lines.
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