Match the items of the List – I with those of the List – II and indicate the correct code from the…
Cardinal Utility Analysis was systematically developed by Alfred Marshall (ii); Ordinal Utility (Indifference Curve) Analysis was pioneered by J.R. Hicks and R.G.D. Allen…
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Match the items of the List – I with those of the List – II and indicate the correct code from the following :
List – I
List – II a. Cardinal Utility Analysis i. J.R. Hicks and R.G.D. Allen b. Ordinal Utility Analysis ii. Alfred Marshall c. Revealed Preference Analysis iii. J.R. Hicks d. Logical Ordering Analysis iv. Paul A. Samuelson
Answer and explanation
Correct answer B
Cardinal Utility Analysis was systematically developed by Alfred Marshall (ii); Ordinal Utility (Indifference Curve) Analysis was pioneered by J.R. Hicks and R.G.D. Allen (i); Revealed Preference Theory was introduced by Paul A. Samuelson (iv); and Logical Ordering (weak ordering) Theory of Demand was formulated by J.R. Hicks in 'A Revision of Demand Theory' (iii).
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UGC NET Commerce