A central argument of cardinal utility is that utility is?
Question 1 Report
A central argument of cardinal utility is that utility is?
Answer Details
Cardinal utility is a theory that argues that utility, which is a measure of satisfaction or pleasure that a consumer derives from consuming a good or service, is measurable and can be assigned numerical values. In other words, cardinal utility assumes that utility can be quantified in units or utils. This is in contrast to ordinal utility, which only ranks the preferences of consumers without assigning a specific numerical value to utility. Therefore, the answer to the question is that cardinal utility theory asserts that utility is measurable.
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