Skip to content
We use only essential cookies to keep you signed in and remember your preferences. See our Cookie Policy.
TestStop
MocksPracticeResourcesIndiaBlogPricing
Sign in
Questions › UGC-NET › UGC-NET 2023 › Q63
2 marksMicroeconomics › Consumer preferences and utility › Preference axioms and rationalityHardabout 2 min

UGC-NET 2023 Question 63: Consumer preferences and utility

Consider the following statements about a consumer's preferences over two commodities (X in R^2_+).

(A) Monotonicity of preference implies strong monotonicity but not the other way round.

(B) A preference relation is monotone if for all bundles x, y in X, y >= x and y != x, then y is preferred to x.

(C) A preference relation on X is strongly monotone if for all bundles x, y in X, y >= x and y != x, then y is preferred to x.

(D) A preference which is locally non-satiated must follow monotonicity and strong monotonicity.

Choose the correct answer from the options given below:

Tap an option to check your answer.

Answer and worked solution

Checking your account…

Consumer preferences and utility has come up 93 times in 7 exams since 2007.

What this question tests

This question is on Preference axioms and rationality, part of Consumer preferences and utility in Microeconomics.

The assumptions that make preferences well behaved: completeness, transitivity, monotonicity, continuity and convexity.

TestStop has 13 past-paper questions on this subtopic.

Take this paper as a timed mockMore on Preference axioms and rationality

Similar questions from other papers

  • CUET-PG 2026 · Q1Which among the following is not an assumption of Indifference Curve?
  • GATE 2026 · Q28Madhu's utility function is given by U=max (2C,3F), where C represents the amount of cloth and F represents the amount of food. Her preferences DO NOT satisfy which one…
  • UGC-NET 2026 · Q55Which of the following is NOT the assumption of the Revealed Preference Hypothesis?
  • CUET-PG 2025 · Q1If the demand function is given as P = 110 - Q² and market equilibrium is attained at P₀ = 29 and Q₀ = 9, calculate the consumer surplus.
  • GATE 2025 · Q38A Constant Elasticity of Substitution (CES) utility function is given as: U_(CES)(z₁,z₂) = 1/δ(z₁^δ + z₂^δ) where z₁ and z₂ are two goods, and δ ≤ 1, δ ≠ 0. A…

Question from the UGC-NET 2023 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.