Important Concepts and Principles Of Microeconomics

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Important Concepts and Principles Of
Microeconomics
MICROECONOMICS
When people or any business make decisions
related to the resources and their allocation,
this study is called microeconomics.
Microeconomics Concepts Microeconomics has the
concept that deals will market structure
excluding the monopoly and perfect
competition. It also includes the elasticity
of supply and demand. k
Key Principles of Microeconomics
1. First on the list are equilibrium, demand,
and supply.
2. Second, on this list is production theory.
3. Another principle is the cost of production.
4. Another principle is the cost of production.
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