What are the objectives of studying Microeconomics?

<p dir="ltr">Microeconomics is the study of producer tactics to maximise profits, consumer behaviour analysis to improve welfare, and the efficient allocation and equitable distribution of resources. It assesses the competitiveness, efficiency of the market, and distribution of resources among various industries and purposes.</p><p dir="ltr">In general, the goal of microeconomics is to shed light on how people make decisions and how markets interact to help shape laws that advance economy-wide welfare, equity, and efficiency.</p><p dir="ltr">The area of economics known as microeconomics examines decisions made by individuals and businesses on resource allocation and the costs of goods and services. It focuses on the dynamics of supply and demand and how they impact pricing and customer behaviour within certain marketplaces.</p>

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