Microeconomics is all about how individual actors make decisions learn how supply and demand determine prices how companies think about competition and more we hit the traditional topics from a college level microeconomics course. 1401 principles of microeconomics is an introductory undergraduate course that teaches the fundamentals of microeconomics this course introduces microeconomic concepts and analysis supply and demand analysis theories of the firm and individual behavior competition and monopoly and welfare economics students will also be introduced to the use of microeconomic applications to address . The economists dictionary of economics defines microeconomics as the study of economics at the level of individual consumers groups of consumers or firms noting that the general concern of microeconomics is the efficient allocation of scarce resources between alternative uses but more specifically it involves the determination of price through the optimizing behaviour of economic agents
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