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1. |
Cardinal utility analysis of consumer's behaviour is based on which combination of the following assumptions:(i) Utility is measurable in terms of cardinal number.(ii) Constancy of the marginal utility of money(iii) Utilities of different goods are interdependent(iv) Gossen's first law of consumptionChoose the correct answer from the code given below: |
A. | Only (i) and (ii) |
B. | Only (i), (ii) and (iv) |
C. | Only (ii), (iii) and (iv) |
D. | Only (iii) and (iv) |
Answer» C. Only (ii), (iii) and (iv) | |