Ike's scale of preference reveals that he prefers bananas to pawpaw, pawpaw to oranges and oranges to bananas. Ike's preferences are therefore?

Answer Details

Ike's preferences are inconsistent. This is because he has contradictory preferences: he prefers bananas to pawpaw, pawpaw to oranges, and oranges to bananas. This violates the transitivity property of rational preferences, which states that if a person prefers option A to option B, and option B to option C, then they should also prefer option A to option C. Since Ike's preferences violate this property, they are inconsistent.