Economy, asked by ashishar7361, 1 year ago

What is the meaning of monotonic preferences?

Answers

Answered by S4MAEL
6
hyy..


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.

hope it helps!!
Answered by Anonymous
2

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

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