Question : Who originated the fundamental cardinal concept of utility?
Option 1: Robbins
Option 2: Pal a Samuelson
Option 3: Hicks and allen
Option 4: Alfred Marshall

Question

Question : Who originated the fundamental cardinal concept of utility?

Option 1: Robbins

Option 2: Pal a Samuelson

Option 3: Hicks and allen

Option 4: Alfred Marshall

Team Careers360 · Accepted Answer

Correct Answer: Alfred Marshall

Solution : The cardinal theory of utility was proposed by Alfred Marshall. According to him, utility or satisfaction can be quantified numerically or cardinally. The price that a consumer is willing to pay for a good is an indication of the utility of that good to the consumer.
The price that a consumer is willing to pay for a good is an indication of the utility of that good to the consumer.
Hence option 4 is the correct answer.

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Question : Who originated the fundamental cardinal concept of utility?Option 1: RobbinsOption 2: Pal a SamuelsonOption 3: Hicks and allenOption 4: Alfred Marshall

Related Questions

Question : Who has given ordinal utility theory?Option 1: Alfred MarshallOption 2: AC PigouOption 3: Hicks and AllenOption 4: David Ricardo

Question : Who has been coined the term “utility”?Option 1: PigouOption 2: Marshall Option 3: Hicks and allen Option 4: Robbins

Question : The economic definition of welfare is offered by ?Option 1: SamuelsonOption 2: Alfred MarshallOption 3: A,C PigouOption 4: Lionel Robbins

Question : Who has propounded the law of diminishing marginal utility?Option 1: MarshallOption 2: AC PigouOption 3: GossenOption 4: Hicks and Allen

Question : Who propounded the Innovation theory of profits ? Option 1: J .A. Schumpeter Option 2: P .A. Samuelson Option 3: Alfred Marshall Option 4: David Ricardo

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Question : Who originated the fundamental cardinal concept of utility?
Option 1: Robbins
Option 2: Pal a Samuelson
Option 3: Hicks and allen
Option 4: Alfred Marshall

Question : Who has given ordinal utility theory?
Option 1: Alfred Marshall
Option 2: AC Pigou
Option 3: Hicks and Allen
Option 4: David Ricardo

Question : Who has been coined the term “utility”?
Option 1: Pigou
Option 2: Marshall

Option 3: Hicks and allen

Option 4: Robbins

Question : The economic definition of welfare is offered by ?
Option 1: Samuelson
Option 2: Alfred Marshall
Option 3: A,C Pigou
Option 4: Lionel Robbins

Question : Who has propounded the law of diminishing marginal utility?
Option 1: Marshall
Option 2: AC Pigou
Option 3: Gossen
Option 4: Hicks and Allen

Question : Who propounded the Innovation theory of profits ?
Option 1: J .A. Schumpeter
Option 2: P .A. Samuelson
Option 3: Alfred Marshall
Option 4: David Ricardo