Rational economic behavior on the part of the consumer means that he will:

A. Save as much of his income as possible

B. Spend as much of his income as possible

C. Buy everything at the lowest possible price

D. Make wise choices among available economic goods

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. Inputs or Factors of production are defined as:
  2. Under conditions of perfect competition, price in the long-run is equal to:
  3. When marginal costs curve cuts average costs curve, average costs are:
  4. A market demand curve presumes that:
  5. Under monopolistic competition, in long-run there is:
  6. The firms in non-cooperative games:
  7. In real life firms:
  8. The concept of period refers to:
  9. The fundamental choices that a society must make about the use of its resources include:
  10. The Prisoners Dilemma was presented by A.W.Tucker in:
  11. Total utility:
  12. Economic problems arise because:
  13. A good tends to have relatively inelastic demand, if:
  14. Variable cost includes the cost of:
  15. J.R.Hicks was:
  16. Elasticity of Substitution (s) is defined as:
  17. If the commodity is normal then price effect is:
  18. The non-price competition cartel is a:
  19. The normal long-run average cost curve is influenced by the:
  20. Profits of a firm will be calculated taking into account the units produced and the difference between:
  21. The imaginary differentiation is attributed to difference in:
  22. Nash equilibrium says:
  23. The slutsky demand curve includes:
  24. With an increase in income, consumer is expected to buy more of:
  25. The demand curve of giffen goods will be:
  26. According to Smith, by value we mean the value with respect to use, and the price we mean the value…
  27. The falling part of total Utility (TU) curve shows:
  28. If the factors have to be employed in a fixed ratio, then the elasticity of substitution under Leontief…
  29. In Nash Equilibrium:
  30. We can find total utility by: