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One of these is not an assumption of the cardinalist theory of utility?

Economics
JAMB 2019

One of these is not an assumption of the cardinalist theory of utility?

  • A. The consumer is rational
  • B. Diminishing marginal utility
  • C. The concept of money utility
  • D. Consistency and transivity of choice
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Correct Answer: Option D
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WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC offline past questions - with all answers and explanations in one app - Download for free
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709