CameraIcon

SearchIcon

MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Study of Consumption

Consumer pref...

Question

Consumer preferences are monotonic means :

(a) Cconsumer prefers less of both the goods

(b) Consumer prefers more of both the goods

(c) Consumer prefers more of at least one of the goods

(d) Both B and C

Open in App

Solution

Consumer prefers more of at least one of the goods.

Suggest Corrections

thumbs-up

0

Similar questions

Define monotonic preferences of the consumer.

Q. According to the ____ a consumer has a given scale of preference for different combinations of two goods. It is assumed that consumer can rank the goods as 1st , 2nd, 3rd, and 4th.

Q. According to the _____________, a consumer has a given scale of preference for different combinations of two goods. It is assumed that consumer can rank the goods like 1st, 2nd, 3rd, 4th.

Q. Which assumption of consumer theory states that if the consumer prefers A to B, then he will not prefer B to A in another time period?

Q. It is because of monotonic preferences of the consumer that IC slopes downward. Comment.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Understanding the Economy

STATISTICS

Watch in App

explore_more_icon

Explore more

Study of Consumption

Standard XI Statistics

Join BYJU'S Learning Program

CrossIcon