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Homework answers / question archive / Microeconomics is the study of A
Microeconomics is the study of
A. the behavior of the economy as a whole.
B. how individuals and firms make decisions.
C. how rising prices affect the level of employment in the economy.
D. the effect that money has on the economic system.
Answer: B
Microeconomics is the study of economics at the industry level or lower. Answers A, C, and D all are part of macroeconomics since they describe events that affect the overall economy. Microeconomics seeks to understand the economy on a smaller scale such as what happens if the price of an input rises for a given good.
