A rational consumer is the one who has : Option 1: Many set of bundles Option 2: Monotonic preference Option 3: With high budget Option 4: Not ready to substitute one good for the other

The answer is 'Monotonic preference'. View full solution:

CUET Economics - A rational consumer is the one who has : | PYQs + Solutions

CUET Economics

Micro

Easy

Many set of bundles

Monotonic preference

With high budget

Not ready to substitute one good for the other

✅ Correct Option: 2

Related questions:

21 May Shift 1

The income of a consumer is spent by him on two goods X and Y. The marginal utility of the goods at the present level of consumption are equal to each other. However, the price of good X is double that of good Y. The consumer, in order to attain equilibrium, will

22 May Shift 1

Which of the following statements are true for the Indifference Curve?

(A). A higher indifference curve gives a greater level of utility.

(B). The indifference curve slopes downwards from right to left.

(C). The indifference curve slopes downwards from left to right.

(D). Two indifference curves never intersect each other.

Choose the correct answer from the options given below:

13 May Shift 2

From which of the following, consumers can choose their consumption bundle?

CUET Economics PYQs

Keyboard Shortcuts