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I got a lousy score in my test today. As expected, I should be depressed, moarn over my failure, cursed at my lousy intelligence or maybe, get outside and start drinking. However, getting a lousy score is sunk cost, which shouldn't get into interference with my emotion anymore. It shouldn't instill extra cost on my emotion, instead, I'll should resume to daily routine of hardwork, and try-again-next-time. .. does it help? it's something I used to make myself feel better when i failed in my econ test and paper again and again... sigh...

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17y ago

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Studying microeconomics is essential because it provides insights into how individuals and businesses make decisions regarding resource allocation, production, and consumption. It helps us understand market dynamics, pricing mechanisms, and consumer behavior, which are crucial for effective policy-making and business strategies. Additionally, microeconomics lays the groundwork for analyzing broader economic issues by examining the behaviors that drive overall economic activity. Ultimately, it equips individuals with analytical tools to navigate and interpret economic challenges in their personal and professional lives.


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