"Utility or satisfaction is a subjective concept; therefore it could only be ranked". The statement supports
A)cardinal utility theorist
B)ordinal utility theorist
C)behavioral theorist of the firm
D)none of the above

Question

Quizplus · Accepted Answer

Ordinal utility theorists argue that utility or satisfaction is subjective and cannot be measured in absolute terms, but can be ranked in order of preference. This contrasts with cardinal utility theory, which suggests that utility can be quantitatively measured.

"Utility or Satisfaction Is a Subjective Concept; Therefore It Could