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Microeconomics is the study of firms, individuals and their behavior for decision-making. This academic area focuses on the study of effects of different policies like tax changes. This study unit includes learning of range of analysis of market and its mechanisms and market failures. It helps in planning conditions to compete in the market. Some of the major learning topics included within it are supply, equilibrium, cost of production, monopoly, oligopoly, market structure and consumer demand.
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