1-The theory of rational behavior options: implies that people will always take the time to make perfectly informed decisions.

 1-The theory of rational behavior

options:

implies that people will always take the time to make perfectly informed decisions.

is an assumption that economists make to have a useful model for how decisions are made.

assumes that people will behave in the best interest of society as a whole.

none of the answers is correct

2-Elasticity is relevant when trying to understand

options:

how a change in price affects quantity supplied, how a change in price affects quantity demanded, and how raising a tax on a good affects the revenue from the tax.

how a change in quantity demanded affects price, how a change in quantity supplied affects price, and the burden of taxes on consumers.

how a change in quantity demanded affects price and how a change in quantity supplied affects price.

the burden of taxes on consumers.