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Microeconomics is the study of economical behaviors; it is the branch of economics that deals with the market system on small basis. It studies the behavior and tendencies of small economic units such as individual firms, consumers, government agencies and local bodies. It analyses all the factors that affects the behavior of small units and individuals. It emphasizes on different patterns of demand and supply and the determination of price and output in small markets.
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Q1. Determine the price of a product when demand and supply and competition is available?
Q2. How much should a firm produce, given the strategies their competitors are using?
Q3. Explain what determines how much a consumer will save?
Q4. What will be the impact on price of a product if supply is increased?
Q5. Determine the correlation between price, demand and supply?
Q6. Describe impact on demand of a product if price is increased?
Q7. Explain the primary forces that impact the level of economic activity?
Q8. Estimate the shift of supply and demand curves.
Q9. Explain consumer and producer surplus in competitive markets.
Q10. Calculate cross-price elasticity of demand using calculus?
Q11. How does the change of a price of good influence a family’s purchasing decisions?
Q12. Describe Impacts of value-added approach to calculating GDP of an economy.
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