Question

Suppose a consumer's preferences are monotonic. What can you say about her preference ranking over the bundles (10, 10), (10, 9) and (9, 9)?

Answer 1

A consumer's preferences will rank as follows:

Rank 1st - (10, 10)

Rank 2nd - (10, 9)

Rank 3rd - (9, 9)

Ranks are based on monotonic preferences.