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Brief Introduction about Microeconomics Assignment Help

Microeconomics involves the study of individual and firms and their behavior in decision-making. The branch focuses on the effects of policies like tax change etc on the economy. The study expands its range to the analysis of market mechanism and market failure. It also helps to plan conditions to compete in the market. The branch of economics includes demand, supply, equilibrium, consumer demand, production, the cost of production, monopoly, oligopoly, market structure, game theory etc.

Why microeconomics is significant?

Microeconomics plays a very significant role in the learning of contemporary economic theory. It is consequently significant in the following ways:

• To recognize the working of an economy;
• For good provision and utilization of scarce accessible resources;
• Helps in cost discovery of a fussy product;
• For global trade;
• Helps in formulating different economic policies & economic plans to endorse all-round economic growth;
• Learning the social requirements under the different market environment like monopoly, oligopoly, etc.

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