What do you mean by monotonic …
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Posted by Sana Fatima 6 years, 4 months ago
- 2 answers
Maheshwari Mansi 6 years, 4 months ago
monotonic preference mean that a rational consumer always prefers more of a commodity as it offers him higher level of satisfaction
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Sia ? 6 years, 4 months ago
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.
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