Economy, asked by RBSN12, 10 months ago

why microeconomic is called price theory?

Answers

Answered by ankushbarnwal01

2

Answer:

Microeconomics studies how prices of goods and services are determined in commodity market and how prices of factors of production are determined in the factor market. Theories which explain market price determination are called price theories and are one of the vital components of microeconomics. Hence, microeconomics is also known as price theory.

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