Question

what do you understand by the term monotonic preference in the concept of consumer's equilibrium? (class 11) economics ​

Answer 1

Solution : Monotonic preference meansthat a rational consumer always prefers more of a commodity as it offers him a higher level of satisfaction.

Answer 2

Answer:

Solution : Monotonic preference means that a rational consumer always prefers more of a commodity as it offers him a higher level of satisfaction.

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