Economics · Consumer Theory
In microeconomic theory, a rational consumer selecting commodity bundles is assumed to possess:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A strict preference never to substitute one good for another
- 2An unlimited budget regardless of income levels
- 3Monotonic preferences, meaning more of a good is preferred to less✓
- 4Disorganised and overlapping sets of bundles
Correct answer
Monotonic preferences, meaning more of a good is preferred to less
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