Cardinal approach is related to:

a) Indifference curve
b) Equi-marginal utility
c) Law of diminishing returns
d) None of these

Explanation:

Cardinal approach is a method of measuring utility in economics. It is called cardinal because it attaches a numerical value to utility. This approach is also known as the utility analysis approach. In this approach, the total utility derived from a good or service is measured in units of utility. The following are some of the concepts related to the cardinal approach:

1. Utility: Utility is the satisfaction or pleasure derived from consuming a good or service. It is measured in units of utility.

2. Marginal Utility: Marginal utility is the additional utility derived from consuming one more unit of a good or service.

3. Law of Diminishing Marginal Utility: According to this law, as a consumer consumes more and more units of a good, the marginal utility derived from each additional unit decreases.

4. Indifference Curve: An indifference curve shows all the combinations of two goods that give the same level of satisfaction to a consumer. It is a graphical representation of the cardinal approach.

5. Equi-Marginal Utility: This concept states that a consumer will allocate his/her income in such a way that the marginal utility per rupee spent on each good is the same.

Conclusion:

Cardinal approach is a method of measuring utility in economics. It attaches a numerical value to utility and measures the total utility derived from a good or service in units of utility. The concepts related to the cardinal approach include utility, marginal utility, law of diminishing marginal utility, indifference curve, and equi-marginal utility.

Cardinal approach relates to an approach which can be expressed in numbers law of equi marginal utility assumes utility is measurable and it can be expressed in numbers therefore law of equi marginal utility is cardinal concept where as that of indifference curve is ordinal approach