Question

What is the significance of the study of microeconomics?

Answer 1

Microeconomics used for the study of a business unit, but not the economy as a whole is known as managerial economics. The various tools used inmicroeconomics like cost and price determination, at an individual level becomes the foundation of managerial economics.

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Answer 2

microeconomics used for the study of a buiesness unit,but not the economy as a whole is known as managerial economics . the various tools used in microeconomics like cost and price determination.