24)Which of the following is incorrect?
Select one:
a. Microeconomics is concerned primarily with the problem of what , how and for whom to produce
b. Microeconomics is concerned primarily with the time path and processes by which one equilibrium position evolves into another
c. Microeconomics is concerned primarily with comparative statics rather than dynamics
d. Microeconomics is concerned primarily with the economic behavior of individual decision making units when at equilibrium
Answers
Answer:
option number a it is the right answer.
Answer :
B. Microeconomics is concerned primarily with the time path and processes by which one equilibrium position evolves into another.
Explanation :
The correct answer is b. Microeconomics is concerned primarily with the time path and processes by which one equilibrium position evolves into another.
Microeconomics is a branch of economics that deals with the behavior and decision-making of individual agents, such as households and firms. It focuses on how these agents make choices and how these choices interact in markets, thereby determining prices and quantities of goods and services. Microeconomics is mainly concerned with the problem of what, how and for whom to produce, which refers to the allocation of resources and the determination of prices and output in the market.
Microeconomics also uses comparative statics, which is the study of how the equilibrium of a system changes in response to changes in the parameters of the system. For example, how the price of a good affects the quantity demanded and supplied. However, Microeconomics is not primarily concerned with the time path and processes by which one equilibrium position evolves into another. This is a domain of macroeconomics, which focuses on the study of the economy as a whole and the behavior of aggregate variables such as GDP, inflation, and unemployment.
In summary, Microeconomics mainly focus on the problem of allocating resources and determining prices and output in the market by studying the behavior of individual agents and their decision-making process. It also uses comparative statics to study how the equilibrium of a system changes in response to changes in the parameters of the system. But it's not primarily concerned with the time path and processes by which one equilibrium position evolves into another which is mainly studied by Macroeconomics.
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https://brainly.in/question/33902848
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