define monotonic preferances.class11 economics.plzz do this I mark as brainlist
Answers
Answered by
0
Answer:
monotonic preferences refers to a situation where a consumer wants more units of one commodity but does not want to sacrifice any unit of the other commodity
Explanation:
for example , if a consumer has 2 goods , chilli and sugar . he has 5 units of chilli and 2 units of sugar. monotonic preference means that he wants more than 2 units of suagr , but does not want to give up any unit of chilli
Similar questions