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Q: differences between cardinalist approach and ordinalist approach
A: he cardinalist school or the marginalist approach is based on the arguement that the satisfaction derived from the consumption of any commodity by a consumer can be measured in specific units of utility called as utilsThe Ordinalist approach says [ the consumer need not know in specific units the utility, but it is enough if he can rank the various 'baskets of goods' to determine order of
preference. ]
Expert answered|shaellaambray|Points 10|
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Asked 4/17/2012 9:36:29 AM
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