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| 1. |
What is meant by monotonic preferences ? |
| Answer» <html><body><p></p>Solution :Monotonic preference means that a rational consumer <a href="https://interviewquestions.tuteehub.com/tag/always-373607" style="font-weight:bold;" target="_blank" title="Click to know more about ALWAYS">ALWAYS</a> prefers more of a commodity as it <a href="https://interviewquestions.tuteehub.com/tag/offers-1129020" style="font-weight:bold;" target="_blank" title="Click to know more about OFFERS">OFFERS</a> him a <a href="https://interviewquestions.tuteehub.com/tag/higher-1022060" style="font-weight:bold;" target="_blank" title="Click to know more about HIGHER">HIGHER</a> <a href="https://interviewquestions.tuteehub.com/tag/level-1072714" style="font-weight:bold;" target="_blank" title="Click to know more about LEVEL">LEVEL</a> of satisfaction.</body></html> | |