Question

what do u mean by monotonic preference?

Answer 1

Monotonic preference means that a rational consumer always prefers more of a commodity as it offers him a higher level of satisfaction. When preferences are monotone / weak monotonic preference , the consumer prefers more of both goods.

Answer 2

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Monotonic preference means that a rational consumer always prefers more of a commodity as it offers him a higher level of satisfaction. ... When preferences are monotone/ weak monotonic preference , the consumer prefers more of both goods...



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