Accepting Answers...
   « »
What are monotonic and non-monotonic preferences?
Posted- 1553 days ago
5 Answers

Answer This
Best Answer

A consumers preferences are said to be monotonic when he chooses a bundle which gives more of both the goods or at least one good without reducing the quantity of the other good.

ex> From the bundles, (1,1) (1,2)(2,2) [when the income of the consumer=20, and the price of both commodities are Rs. 5] He will choose the bundle (2,2)

We generally do not use the term Non-monotonic preferences. but if he chooses the bundle (1,1) or (1,2), it is a non monotonic preference

 

MONOTONIC MEANS SINGLE & NON MONOTONIC IS MORE THEN ONE PREFERENCE

 

MONOTONIC MEANS SINGLE & NON MONOTONIC IS MORE THEN ONE PREFERENCE

 
A consumers preferences are said to be monotonic when he chooses a bundle which gives more of both the goods or at least one good without reducing the quantity of the other good.
 

monotonic mns single bt monotonic meansmoro than single