Home › CBSE Class 11 (Arts) › Economics › Microeconomics: Consumer's Equilibrium and Demand › If A is preferred to B and B to C, a consistent …
If A is preferred to B and B to C, a consistent consumer prefers A to C. This is
Areflexivity
Bcontinuity
Ccompleteness
Dtransitivity
Answer & Solution
Correct answer: D. transitivity
Transitivity is the consistency assumption that A over B and B over C implies A over C.
Related questions
A budget line, drawn for two goods, isOrdinal utility tells us only theUtility that can be measured objectively in numbers isConsumer theory builds demand curves using indifference curves andLocal non-satiation says more of either goodUnder reflexive preferences, two identical bundles leave the consumerComplete preferences mean the consumer hasGiving up more of one good, the consumer needs successively