Which of these is a basic assumption of the Cardinal Utility Theory? The consumer's preferences are transitive. The consumer's preferences can be expressed in monetary terms. The utility of a bundle of goods can be measured in utils. The consumer always prefers more of a good to less.

Mentions the assumptions of cardinalist theory of utility

utility (cardinal and ordinal )

Which is a dimension or assumption of the marginal-utility theory of consumer behaviour

Which of the following does not influence consumer behavior according to Ordinal Utility Theory?Consumer preferences.Consumer income.Prices of goods.The rate of inflation

Utility theory provides a way to measure the desirability or satisfaction associated with different states of nature or outcomes. 1 pointTrueFalse