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Assume that the set of alternatives X R n + and that the preference relation of consumer i, denoted i , is complete, transitive, continuous
Assume that the set of alternatives X R n + and that the preference relation of consumer i, denoted i , is complete, transitive, continuous and strictly monotonic. (A) Explain what these four assumptions mean, and (B) demonstrate that, under these assumptions, there exists a utility function u : R n + R that represents consumer i's preferences.
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