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recommended to spend no more than 54 minutes ull Explain what it means for the consumer to be rational. [10 marks] Explain price-taking behaviour and

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recommended to spend no more than 54 minutes ull Explain what it means for the consumer to be rational. [10 marks] Explain price-taking behaviour and price-setting behaviour, and the difference between them. [10 marks] Explain the difference between a public and a private good. [10 marks]

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