question archive Consider preferences defined over the nonnegative orthant by (x1,x2) > (y1,y2) if x1+x2 < y1+y2
Consider preferences defined over the nonnegative orthant by (x1,x2) > (y1,y2) if x1+x2 < y1+y2
Subject:EconomicsPrice: Bought3
Consider preferences defined over the nonnegative orthant by (x1,x2) > (y1,y2) if x1+x2 < y1+y2. Are these preferences monotonic? Do these preferences statisfy local nonsatiation? Does Walras law hold?
