Some practical applications of the economic theories based on microeconomics and behavioral economics are:

• It can be applied to determine the best choice of selecting the product and the level of efficient output.
• Various economic theories are used to measure the risk and taking the decisions to eliminate that risk.
• It is also used in determining the level of price in the economy at which various products are sold.
• The decision of the firms on the amount of capital to be purchase is also determined by the investment theory.