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In: Economics

Which of the following would be studied in Microeconomics?


Which of the following would be studied in Microeconomics? 

a. The level of prices in the American economy 

b. The fixed costs of the Mxyzptlk Corporation 

c. Aggregate demand in the second quarter of 2020 

d. The balance of trade differential with China

Solutions

Expert Solution

Option b.

Micro economics refers to the study at the micro or individual level. The concept of studying cost of a particular corporation is a micro economic concept and all other options related to prices, aggregate demand and balance of trade are macro concepts of the economy.

Rahul Sunny answered 2 years ago
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