Assumptions on Preferences X2 If preferences are convex and monotonic(i.e. well-behaved) then the most preferred affordable bundle is unique. X1 北京大学经济学院 Slide北京大学经济学院 Slide8 Assumptions on Preferences x2 x1 x1 * x2 * If preferences are convex and monotonic (i.e. well-behaved) then the most preferred affordable bundle is unique