Question

Manish is indifferent to the bundles (4,7)and (4,8).indicate ,whether Manish has monotonic preference or not ?​

Answer 1

ANSWER:

Yes Manish does have monotonic preferences although he is different to the bundles, since the bundle (4,8) hasan additional unit of one good when compared to bundle (4,7).

EXPLANATION:  

Considering the two bundles such that one bundle has more of any of the good as compared to the other bundle. The preference is monotonic since one bundle has more of atleast good 2 (as it gives him more satisfaction) and not less than good 1 (as lesser goods would have given him/her lesser satisfaction). If, Manish’s preference is monotonic, these 2 bundles can be indifferent only if the bundle having more of good 2 has less of good 1 as compared to the other bundle.