Suppose a consumer's preferences are monotonic. What can you say about

1.	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» If a consumer has monotonic preferences then : (i) Bundle (10, 10) is monotonically preferred to bundle (10, 9) and bundle (9, 9). (ii) Bundle (10, 9) is monotonically preferred to bundle (9,9).

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»

If a consumer has monotonic preferences then :

(i) Bundle (10, 10) is monotonically preferred to bundle (10, 9) and bundle (9, 9).

(ii) Bundle (10, 9) is monotonically preferred to bundle (9,9).