Question

In microeconomics, we focus on individuals, unique markets, and individual firms. Which of the following is a potential subject of microeconomics? A. Average national price levels B. Single market structure C. Total national output

Answer 1

B. Single market structure

Step-by-step explanation:

Microeconomics focuses on individual's households and firms and how their decisions affect demand and consumption for a product. It analyses how firms and households allocate limited resources to satisfy the needs of their members. Unlike macroeconomics that studies variables that affect the whole country, microeconomics is concerned with matters affecting individual firms, consumers, demand, or a supplier of a particular product