Economics A
Harvard University
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Summary
Cardinalist theory explained
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---24June 20212020/2021
- CARDINALIST THEORY: 
Cardinal utility theory 
Concept of utility 
Marginal utility 
Assumptions (axiom) made under cardinal approach 
Derivation of the equilibrium condition for the consumer 
Derivation of the demand curve for the consumer 
Critique of the cardinal approach
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