Microeconomics is the subfield of economics that studies how economic decisions are made on the level of individual people or firms, as well as phenomena affecting those decisions. What Is the ...

Microeconomics can be math-intensive. Fundamental microeconomic assumptions about scarcity, human choice, rationality, ordinal preferences, or exchange do not require advanced mathematical skills.

The individual demand curve represents the quantity of a good that a consumer will buy at a given price, holding all else constant. For example, consumer A might buy zero oranges at $1 each, one ...