explain the importance of micro economics
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1. Micro economics helps in explaining how the prices of different commodities are determined.
2.It also explains how the prices of various factors of production such as rent for land, wages for labour, interest for capital and profits for entrepreneur are determined in the commodity and factor market.
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micro economy is defined as the study of individual household and behaviour in decision making and allocation of resources have fever microeconomics facilities as a compression of the economic system is provided the required tools that enable the formulation of virus economic policies
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