One of the assumptions of the cardinal approach is

  • A diminishing marginal rate of substitution
  • B the consistency and transitivity of choice
  • C that total utility depends on the quantity of the commodities consumed
  • D unstable marginal utility of money
jamb 2013economics

The correct answer is C. that total utility depends on the quantity of the commodities consumed

The cardinal approach in economics focuses on quantifying utility, which means assigning numerical values to utility levels.

One of the key assumptions of the cardinal approach is that total utility depends on the quantity of the commodities consumed.

This assumption implies that the more of a commodity a person consumes, the higher their total utility will be.

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