The theory of prices lies at the heart of neo-classical economics. Its twin components of optimization and equilibrium form the basis of much of modern economic analysis. Not surprisingly, then, the theory of prices is also a showcase for economic...

Microeconomics is that portion of economic theory concerned with the economic behaviour of individual units in the economy, and the factors determining the prices and quantities exchanged for particular goods and services. It can be contrasted with...

Microeconomics (or price theory) is a branch of economics that studies how individuals, households, and firms make decisions to allocate limited resources,[1] typically in markets where goods or services are being bought and sold. Microeconomics...