One of the assumptions of the cardinal approach is?

A. diminishing marginal rate of substitution
B. the consistency and transitivity of choice
C. that total utility depends on the quantity of the commodities consumed
D. unstable marginal utility of money

Correct Answer:

Option C – that total utility depends on the quantity of the commodities consumed

Explanation

According to the Cardinalist school, the utility/satisfaction which is derived from the consumption of a good is a function of the quantity of that good alone.