Multiple Choice
Individuals can rank order all possible bundles.Rank ordering implies that the utility theory assumes that, no matter how many combinations of consumption bundles are placed in front of the individual, each individual can always rank them in some order based on preferences.Identify this assumption on preference.
A) Monotonicity
B) More-is-better
C) Completeness
D) Mix-is-better
E) Rationality
Correct Answer:
Verified
Correct Answer:
Verified
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