What do you mean by ‘monotonic preferences’?

1.	What do you mean by ‘monotonic preferences’?
Answer» 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.

Answer»

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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What do you mean by ‘monotonic preferences’?

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