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Microeconomics primarily focuses on the behaviors and decisions of individuals and firms in allocating scarce resources. Key areas of concern include supply and demand dynamics, pricing strategies, consumer behavior, production and cost analysis, and market structures such as perfect competition, monopoly, and oligopoly. Additionally, microeconomics examines the impact of government policies on markets and the efficiency of resource allocation. Understanding these elements helps in analyzing how markets function and how economic agents interact.

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Which branch of economics focuses on the individual areas of economics?

To be honest, I don't know. Try looking at ask.com


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