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D - Obey law of demand This is the correct answer because Transitive refers to relationship resulting... View the full answer
- what if the options were ? a. are transitive. b. are complete. c. are convex. d. are monotonic. e. Do not have enough information.
- Oct 03, 2018 at 8:01pm
- D. monotonic, because they have "Monotony on apples". Monotonous preference infers that consumer will like one product more, Other choices do not apply because, Example of transitive is, if one likes oranges, mangoes and apple, then by transitivity they will prefer mangoes and apples (it is already in their preference) For convex, consumer will prefer averages, for monotonic,
- Oct 03, 2018 at 8:12pm