SELECT * FROM question_mgmt as q WHERE id=10215 AND status=1 SELECT id,question_no,question,chapter FROM question_mgmt as q WHERE courseId=3 AND subId=60 AND chapterId=609 and ex_no='1' AND status=1 ORDER BY CAST(question_no AS UNSIGNED) CBSE Free NCERT Solution of 12th micro-economics Theory of Consumer Behaviour what do you mean by lsquo monotonic preferences r

Question:

What do you mean by ‘monotonic preferences’?

Answer:

It means that the consumer prefers a particular bundle over the other bundle if the former consists of at least more of one good and no less of the other good.
Example: If bundle A (3, 5) and bundle B (3, 2) are available to the consumer, then he/she will prefer bundle A over bundle B as bundle A consists of more units of
good 2 than bundle B.


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  • Answered by Ekta Mehta
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