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Cardinalist theory - Study guides, Class notes & Summaries
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Cardinalist theory explained
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24
June 2021
2020/2021
CARDINALIST THEORY:
Cardinal utility theory
Concept of utility
Marginal utility
Assumptions (axiom) made under cardinal approach
Derivation of the equilibrium condition for the consumer
Derivation of the demand curve for the consumer
Critique of the cardinal approach
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