Question

Select the items below that describe rational behavior in economics.

-Chooses option with greatest costs
-Maximizes benefits
-Makes a decision given certain conditions
-Applies to both consumers and producers
-Depends on the individual

Answer 1

i would say it maximizes benefits, makes a decision given certain conditions, and depends on the individual.

Answer 2

-Maximizes benefits

-Makes a decision given certain conditions

-Applies to both consumers and producers

-Depends on the individual

Step-by-step explanation:

The microeconomic theory is based on the rationality assumption of the economic agents, which are the consumers and the producers. Thus, these agents will make decisions that maximize their utility in the face of some given condition. For example, consumers have a condition imposed by limiting their income. Given this, they will make the rational consumption decisions that best meets their needs and benefits. Therefore, in microeconomics, each individual is considered rational and makes a decision about what inside under himself, efficiently.