Economics · Consumer Behaviour
The consumer equilibrium condition MRSXY = MUXMUY = PXPY is based on which of the following utility approaches?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Negative Utility Approach
- 2Positive Utility Approach
- 3Ordinal Utility Approach✓
- 4Cardinal Utility Approach
Correct answer
Ordinal Utility Approach
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