Assumption of 'Non-satiation property' in consumer's utility analysis states that consumers
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1 mark, −0.33MicroeconomicsConsumer preferences and utilityPreference axioms and rationalityEasyabout 1 min
UoH 2019 Question 11: Consumer preferences and utility
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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.
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