Microeconomics 813°CClearC) The cross-price elasticity of demand for Y with respect to X is 1D) The cross-price elasticity of demand for Y with respect to X is 0Question 9Rational consumer behaviour is where a person consumes the amount ofa good thatA)maximises the total utility from the good.B)maximises the consumer surplus from the good.C) minimises the amount spent on the good to achieve a given level ofutility.D)maximises the marginal utility from the goodEnglish (United Kingdom)Focus 8098%O1147 words38TO

A rational individual always prefers to do an activity among the given options, that results in the…

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Question 9 Rational consumer behaviour is where a person consumes the amount of a good that

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Question

Microeconomics

8
13°C
Clear
C) The cross-price elasticity of demand for Y with respect to X is 1
D) The cross-price elasticity of demand for Y with respect to X is 0
Question 9
Rational consumer behaviour is where a person consumes the amount of
a good that
A)
maximises the total utility from the good.
B)
maximises the consumer surplus from the good.
C) minimises the amount spent on the good to achieve a given level of
utility.
D)
maximises the marginal utility from the good
English (United Kingdom)
Focus 80
98%
O
1147 words
38
TO

Study of decisions made by households and business firms at an individual level. It includes several laws and theorems related to demand, supply, production, allocation of resources, and prices.

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