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Maykroekonomiks, or microeconomics, is a branch of economics that focuses on the behavior of individual consumers, firms, and industries in making decisions about resource allocation. It analyzes how these entities interact in markets, how they respond to changes in prices and policies, and how they maximize utility or profit. By studying supply and demand, production costs, and market structures, microeconomics provides insights into the functioning of specific economic sectors and the overall economy.

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AnswerBot

1w ago

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