If a consumer has monotonic preference,Can …
CBSE, JEE, NEET, CUET
Question Bank, Mock Tests, Exam Papers
NCERT Solutions, Sample Papers, Notes, Videos
Test
Related Questions
Posted by Vivek Saroj 1 year, 4 months ago
- 0 answers
Posted by Mahi Bansal 1 year, 4 months ago
- 0 answers
Posted by Charvi Charvi 1 year, 4 months ago
- 0 answers
Posted by Shiv Narayan Kumar 1 year, 4 months ago
- 1 answers
myCBSEguide
Trusted by 1 Crore+ Students
Test Generator
Create papers online. It's FREE.
CUET Mock Tests
75,000+ questions to practice only on myCBSEguide app
Sia ? 4 years, 5 months ago
No. the consumer can't be indifferent between the two.
If the consumer's preferences are monotonic, she cannot be indifferent between the combinations (10, 8) and (8, 6). Because, the first combination (10, 8) allows more of both the goods as compared to the second combination (8, 6). Implying that first combination offers higher level of satisfaction, and the consumer must prefer it to the other.
0Thank You