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As per Ordinal Approach...

As per Ordinal Approach

A

Measurement of Utility is not possible through money

B

Measurement of Utility is possible but it can not be ranked

C

Measurement of Utility is not possbile in cardinal numbers but it can be ranked

D

None of these

Text Solution

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The correct Answer is:
C
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SANDEEP GARG-CONSUMER'S EQUILIBRIUM-Revision Exercise
  1. A consumer in conumption of two commodities A and B is at equilibrium...

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  2. The Law of Diminishing Marginal Utility will not hold good if Income o...

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  3. As per Ordinal Approach

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  4. Marginal Utility :

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  5. Mollie derives total utility of 10 utils after having 4 mangoes and to...

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  6. After reaching the point of satiety, consumption of additional units o...

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  7. According to one of the assumption of Law of Diminishing Marginal Util...

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  8. Budget line shows:

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  9. MU(X) " of " X " is " 40 " and " MU(Y) of Y is 30. It the price of Y i...

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  10. The farther the Indifference Curve is from the origin, then :

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  11. The consumer is in equilibrium when Marginal Utility from a Commodity ...

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  12. An Indifference Curve represents all those combinations of two goods w...

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  13. The consumer is in equilibrium at a point where the budget line:

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  14. Which of the shaded area in the diagrams below represent total utility...

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  15. If Marginal Rate of Substituation is constant throughtout, the Indiffe...

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  16. If Marginal Rate of Substituation is increasing throughout, the Indiff...

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  17. A consumer consumes only two goods, If price of one of the goods falls...

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  18. A consumer consumes only two goods X and Y both Priced at Rs 4 per uni...

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  19. A consumer consumes only two goods X and Y whose prices are Rs 3 and R...

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  20. In the following diagram, the situation of Consumer's Equilibrium and ...

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