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Please solve this attachment. a. Explain the difference between the cardinal utility approach and ordinal utility approach. Which approach is better? Why? (2 Marks, 100-

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a. Explain the difference between the cardinal utility approach and ordinal utility approach. Which approach is better? Why? (2 Marks, 100- 250 words) b. Suppose that Ali has consumed two goods X and Y. Details of MUs and MUy are given in the following table. Ali's income is Rs. 1000 and the price of Ps is Rs.200 and the price of P. is Rs. 100. Units 1 2 3 4 5 6 7 8 9 10 MU. 3000 2900 2600 2300 1900 1600 1200 800 600 200 MU 2400 2200 2000 1600 1250 1 100 800 400 0 -50 i) Explain how Ali should spend his income to maximize total utility. (2 Marks, 30-100 words) ii) Determine how much total utility Ali receives when he purchases the combination of X and Y that maximizes total utility? How much total utility would the Ail get if he spends all his income on X or Y? (2 Marks)

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