What is the scof of Micro economic ?
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The Origins and Scope of Microeconomics
Microeconomics is the branch of economics that deals with how individuals and organizations make decisions about allocation of scarce resources and how these individuals and organizations, interacting in markets, determine relative prices, wages, and rents.
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Step-by-step explanation:
Microeconomics is a branch of economics
- that studies the behavior of individuals and firms in making decisions
- regarding the allocation of scarce resources
- the interactions among these individuals and firms
- study of small things
- profit of a company
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