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Elastic vs Inelastic Demand

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Lessons List | 56 Lesson
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Ousman Boyd Bojang

Actually, the course was interesting, enjoyable, and fun to attend. It is helpful and I am grateful to my tutor for all the lecture slides and explanations that followed. Thank you 2024-11-15

Varija Lakhera

Good 2024-11-10

Kautilya agrawal

Good one 2024-11-10

Hetvi Mehta

helpfull 2024-11-10

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Course Description

Microeconomics is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms. ... Microeconomics shows conditions under which free markets lead to desirable allocations.What is microeconomics and examples? Microeconomics is the study of decisions made by people and businesses regarding the allocation of resources, and prices at which they trade goods and services. ... For example, microeconomics examines how a company could maximize its production and capacity so that it could lower prices and better compete.What are the 3 main concepts of microeconomics? Microeconomic concepts marginal utility and demand. diminishing returns and supply. elasticity of demand. elasticity of supply. market structures (excluding perfect competition and monopoly) role of prices and profits in determining resource allocation.