Home » Urgent Assignment Help » Economics Assignment Help » Microeconomics Assignment Help Microeconomics is the study of a particular firm, household, price, income, nature of industry, individual behavior, price of a particular commodity and maximum satisfaction that a customer derives from a product.
Particularly in the wake of the Lucas critique, much of modern macroeconomic theory has been built upon 'micro foundations'— i.e.
based upon basic assumptions about micro-level behaviour.
The name says it all, this field of Economics deals with individual firms, market of each specific commodity in relation to whole economy of the nation, industry and in effect the global economy at large.
Microeconomics is essential to study to regulate any business or firm in domains of marketing sale or business relationship.