Normal RO ratio is 1 part "product water" to 4 (or more) parts waste water.
You can do lots of things with the RO waste water...it is after all well filtered, (passes through a sediment and carbon filter). Lots of people retain it for landscape watering, washing clothes, use it for fish tanks for fish that like hard water, like African Cichlids, etc.
A booster pump MAY help reduce the amount of waste by a little, but probably not by a significant amount, unless you have very low (less than 50 psi) water pressure.