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What is it like to do research in microeconomic theory?
Microeconomic is a branch of economics which studies the economic issue at the individual level. It studies the economy level of individual whether producer or consumer. In economy how they are performing and how they are achieving their equilibrium. If we are doing research at the level of individual microeconomic do the best help in it. Microeconomics works on several key areas like consumer theory, demand and supply, equilibrium level, production and its cost, market structure and other, they are also known as factors of microeconomics. Research in microeconomics helps in studying the behavior of particular consumer, like what type of goods they want, what prices they can give, what?s their utility and level of satisfaction; and if we do research on industrial or corporate sector we will get to know what type of technology they are using, how they allocate their resources; their comparison help us to evaluate equilibrium.