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MICROECONOMICS CH : 4 CONSUMER'S EQUILIBRIUM INDIFFERENCE CURVE ANALYSIS — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 4 CONSUMER'S EQUILIBRIUM INDIFFERENCE CURVE ANALYSIS1 Mark
Question
Define monotonic preferences of the consumer.
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Answer

Monotonic preferences means consumer preferences are such that greater consumption of a commodity always offers him a higher level of satisfaction.

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