• The correct answer is c. Study of the Economy at Micro Level.

Microeconomics is a branch of economics that studies individuals, households, and firms in the country. Microeconomics focuses its analysis on the behavior of these entities and how it affects the allocation of scarce resources. In other words, it studies the decision making of economic entities at the micro-level. For instance, microeconomics studies the demand and supply, market structures, and profit maximization. Therefore, the correct answer is option c. In contrast, option a. does not include all the characteristics of microeconomics, and option b. is more associated with macroeconomics.