Question

Statements that are correct in relation to microeconomics:

1. Microeconomics is concerned with the study of individual economic units.
2. Microeconomics uses lumping method.
3. Microeconomics provides basis for the conditions of economic welfare.
4. Microeconomics studies the determination of the general price level.

Options

• a and b

• b and c

• c and d

• a and c

Answer 1

a and c