In part, microeconomics is concerned with
A) how a business firm decides upon the amount it produces and the price it sets.
B) changes in the economy's total output of goods and services over long periods of time.
C) factors that explain changes in the unemployment rate over time.
D) the Federal Reserve's policy decisions.

Question

Quizplus · Accepted Answer

Microeconomics focuses on the actions of individuals and industries, like the behavior of firms and consumers. It examines how businesses decide on production levels and pricing, which directly relates to choice A. Choices B, C, and D are more related to macroeconomics, which looks at the economy as a whole, including total output, unemployment rates, and monetary policy.

In Part, Microeconomics Is Concerned with