Answer :
Answer:
Limitations of Utility Analysis are:
1. The assumption that utility can be measured cardinally (or numerically) is not true as utility is a subjective concept and varies from person to person and from time to time.
Explanation : hope it helps !
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Answer:
The assumption that utility can be measured cardinally (or numerically) is not true as utility is a subjective concept and varies from person to person and from time to time. Utility analysis assumes that marginal utility of money is constant. This assumption is unrealistic
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