Question

Let there be three bundles containing good X and good Y; Bundle (20,10), Bundle (20,20) and bundle(9,20). If a consumer has monotonic preferences, which bundle will be preferred by him? Give reason for your answer.
CLASS 11 ECONOMICS

Answer 1

Answer:

the consumer will prefer bundle(20,20)

Explanation:

as per monotonic preference a consumer will satisfaction increases with more goods. means satisfaction level is associated with quantity of goods. as he gets more goods his satisfaction level increases