Micro economics studies______
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Microeconomics studies the decisions of individuals and firms to allocate resources of production, exchange, and consumption. Microeconomics deals with prices and production in single markets and the interaction between different markets but leaves the study of economy-wide aggregates to macroeconomics.
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Microeconomic theory offers a general theory about how people make such decisions. ... This theory describes how the typical consumer, constrained by a limited income, chooses among the many goods and services offered for sale. The second section deals with the choices made by business organizations or firms.
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