Answer:
"Cardinal utility is not needed in order to rank consumer choices because economists can instead use ordinal utility to show how consumers rank different baskets". However, it is important to note that while ordinal utility can provide us with the information about a customer ranking in different baskets, it does not show the extent or by how much
Explanation:
In order to rank consumer selections, economists can use ordinal utility instead of cardinal utility to show how consumers rank assorted containers.
A cardinal utility function or scale is a utility index in economics that preserves preference orderings up to positive affine transformations uniquely.
If the strength of preference or intensity of liking for a good or service can be determined with precision using objective criteria, the utility function is considered measurable.
Assume that eating an apple provides a person with exactly half the pleasure of eating an orange.
This would be a measurable utility if and only if the test used to measure it directly is based on an objective criterion that would allow any external observer to accurately repeat the results.
Learn more about cardinal utility here:
https://brainly.com/question/25016282
