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Suppose a consumer's preferences are monotonic. What can say about her preference ranking over the bundles (10,0), (10,9) and (9,9) ? |
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Answer» Solution :If a consumer has monotonic preferences, then her preferences will rank as FOLLOWS: `1^(st) (10, 0) "" 2^(nd) (10,9) "" 3^(RD) (9,9)` |
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