Ordinal utility analysis of the consumer rsquo s behaviour is considered superior to the cardinal ut...........

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Ordinal utility analysis of the consumer’s behaviour is considered superior to the cardinal utility analysis mainly due to (2 marks)

assumption of the rationality of the consumer’s behaviour.

possibility of the derivation of the consumer’s demand.

bifurcation of price effects into income and substitution effects.

consideration of the available limited resources for satisfying consumer’s demand.

bifurcation of price effects into income and substitution effects.

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