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प्रश्न
Suppose your friend is indifferent to the bundles (5, 6) and (6, 6). Are the preferences of your friend monotonic?
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उत्तर
It is given that my friend is indifferent towards the bundles (5, 6) and (6, 6). This implies that his/her preferences are not monotonic. If he/she is indifferent towards both the bundles, then it means that he/she derives the same level of satisfaction and assigns them the same rank. However, the second bundle consists of more of both the goods. Thus, according to the monotonicity assumption, he/she must prefer the second bundle over the first.
संबंधित प्रश्न
What is meant by monotonic preferences?
What do you mean by monotonic preferences?
If the consumer has monotonic preferences, then can he/she be indifferent towards bundles (10, 8) and (8, 6)?
Suppose a consumer’s preferences are monotonic. What can you say about his/her preference ranking over the bundles (10, 10), (10, 9) and (9, 9)?
Answer the following question:
How would the demand for a commodity be affected by a change in the "tastes and preferences" of the consumers in favour of the commodity? Explain using a diagram.
Explain the following condition:
Shift from a lower to a higher indifference curve.
