Q.Write a short note on: Cardinal Utility

Cardinal utility is the Marshallian idea that utility is measurable in numerical units (utils), so that the satisfaction from different goods can be added up and directly compared, and it forms the basis of the law of diminishing marginal utility.

Meaning

Cardinal utility is the approach which assumes that utility, the satisfaction a consumer derives from consuming a good, can be measured and expressed in exact numbers called utils. According to this approach, a consumer can say, for example, that one apple gives ten utils of satisfaction and one orange gives six utils.

…