Economics · Business Economics
Which one of the following is NOT an assumption for consumer behaviour based on the cardinal utility approach?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Total utility is additive
- 2Diminishing marginal utility of money✓
- 3Utility is cardinally measurable in monetary terms or utils
- 4Maximization of consumer satisfaction
Correct answer
Diminishing marginal utility of money
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