When a manager tries to evaluate the price and the quantity of a product that will be sold,he or she is dealing with microeconomics.

Question

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Microeconomics deals with the individual economic behavior of households, firms, and markets, including the determination of prices and quantities of goods and services exchanged in the market. Evaluating the price and quantity of a product falls under the domain of microeconomics.

When a Manager Tries to Evaluate the Price and the Quantity