According to the utility theory, if one week of food is preferred to one week of clothing, then two weeks of food is a preferred package to one week of food.Identify this assumption on preference.
A)Monotonicity
B)Rationality
C)Convexity
D)Mix-is-better
E)Completeness

Question

Quizplus · Accepted Answer

Monotonicity in utility theory implies that more of a good is always preferred to less, assuming all else remains equal. This assumption is reflected in the statement that two weeks of food is preferred over one week, indicating a preference for a larger quantity of the good.

According to the Utility Theory, If One Week of Food