Question

Which of the following theories are studied in microeconomics?

Options

• Theory of Consumer's Behaviour and Demand

• Theory of Producer's Behaviour and Supply

• Both theory of Consumer's Behaviour and Demand and the theory of Producer's Behaviour and Supply. 

• None of the above

Answer 1

Both theory of Consumer's Behaviour and Demand and the theory of Producer's Behaviour and Supply.

Explanation:

Various microeconomic theories have been investigated.

1. Consumer Behaviour and Demand Theory
2.  Producer Behaviour and Supply Theory
3. Price Determination Theory in Various Market Conditions