Question

define monotonic preference​

Answer 1

Answer:

An agent's preferences are said to be strongly monotonic if, given a consumption bundle , the agent prefers all consumption bundles that have more of at least one good, and not less in any other good.

Answer 2

Answer:

In economics, we can understand monotonicity in simple terms which simply means "the more the merrier". When an individual has monotonic preferences, it means that he prefers more of a quantity of goods as compared to less.