A key limitation of the Law of Diminishing MU is that it assumes utility is:

CA Foundation · Business Economics · RTP · September 2026
A key limitation of the Law of Diminishing MU is that it assumes utility is:
(A) (A) Cardinally measurable
(B) (B) Ordinal
(C) (C) Constant
(D) (D) Total

Suggested Answer and Working Notes:

Correct Answer: Option (A)

Correct Option: (A)

Topics: Theory of Demand and Supply

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