A situation where a consumer says he does not know his preference ordering for bundles X and Y would violate the property of:
A) more is better.
B) completeness.
C) substitutability.
D) complementarity.

Question

Quizplus · Accepted Answer

Completeness is the property of a consumer's preferences where they can always rank or compare any given bundle. If a consumer cannot determine their preference ordering for two bundles, it would violate completeness. The other properties listed (more is better, substitutability, complementarity) are not applicable to this scenario.

A Situation Where a Consumer Says He Does Not Know