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Microeconomics is one of the primary branches of economics and deals with the economic decisions of micro units i.e individual households and firms, of any given economic sphere. The branch is mainly concerned with how the decisions made by these individual units affect the supply and demand of goods and services and consequently their respective sale and purchase values. Beneath the simple appearance of the subject and its concerns lies a truly baffling array of principles and concepts the understanding of which is indispensable to any student or person engaged with the subject.
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