The oldest approach to the theory of demand is ____

CA Foundation · Business Economics · MTP · June 2024
The oldest approach to the theory of demand is ____
(A) A. the total utility approach
(B) B. the cardinal utility approach
(C) C. the ordinal utility approach
(D) D. None of these

Suggested Answer and Working Notes:

Correct Answer: Option (B)

B. the cardinal utility approach

Topics: Theory of Demand and Supply

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