When utility is measured in quantitative terms, it is ______ of consumer equilibrium. Option 1: Ordinal Approach. Option 2: Cardinal Approach. Option 3: Indifference Curve approach. Option 4: Law of Diminishing marginal utility.

The answer is 'Cardinal Approach.'. View full solution:

CUET Economics - When utility is measured in quantitative terms, it is ______ of consumer equilibrium. | PYQs + Solutions

CUET Economics 2025 30 May Shift 1

Micro

Easy

Ordinal Approach.

Cardinal Approach.

Indifference Curve approach.

Law of Diminishing marginal utility.

✅ Correct Option: 2