Economics · Business Economics
Which one of the following is NOT an assumption of consumer behaviour based on the Ordinal Utility Theory?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rationality of the consumer
- 2Utility is only ordinally measurable
- 3Satiety of demand (Non-satiation)✓
- 4Diminishing marginal rate of substitution
Correct answer
Satiety of demand (Non-satiation)
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