What do you mean by monotonic preferences?

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Solution

It means that the consumer prefers a particular bundle over the other bundle if the former consists of at least more of one good and no less of the other good.

Example:

If bundle A(3, 5) and bundle B(3, 2) are available to the consumer, then he/she will prefer bundle A over bundle B as bundle A consists of more units of good 2 than bundle B.

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Similar questions

What do you mean by 'montonic preferences'?

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)?

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