From the perspective of indifference approach, the size of utility differences can be established.TrueFalse

The indifference approach is based on the notion of ordinal utilityTrueFalse

The concept of utility can be measured objectivelyTrueFalse

Compare and contrast the marginal utility approach with the indifference curve approach inunderstanding consumer behaviour.

Indifference curves illustrateGroup of answer choicesa firm's profits.the prices of two goods.a consumer's preferences.a consumer's budget.

Differentiate between cardinal utility approach and indifference curve approach