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OCW Scholar - Principles of Microeconomics
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OpenStudy (anonymous):
what is microeconomics
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OpenStudy (anonymous):
Microeconomics is the study of how individual decision making units(i.e. people) make choices in the economy. The choices are guided by how scarce the resource are and against what (oppurtunity cost usually its the money) the individual has to choose. So its all about scarcity, choice and oppurtunity cost.
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