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

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A: The information which has been given to us is as follows:-C= 1000+0.5D T=200 G=400 I=500

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A: When the price is equal to marginal cost, allocative efficiency is achieved.

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A: Marginal cost refers to an additional from producing one more unit of output.

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A: The cost of the next best alternative foregone is reffered to be as opportunity cost

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A: The economy is at full employment when it uses all its resources efficiently.

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A: * SOLUTION :-