Learning Contents:                                                              ·          Monotonic Preferences of the consumer   Monotonic Preferences: We always know that a rational consumer always prefers to have more of a good as it would give him a higher level of satisfaction. In other words, we can say that a consumer will always love to pick that basket of goods that has more articles as it will give him a higher level of satisfaction. The assumption of monotonic preferences means that more is better no matter how much more.                 ...