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Question
Identify and explain the concept from the given illustration:
Gauri collected the information about the income of a particular firm.
Short/Brief Note
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Solution
Concept: Micro-economics (or Micro-economic study, which is the study of individual units)
Explanation:
Microeconomics is the study of the behaviour of individual economic units such as individual consumers, individual producers, individual firms, the price of a particular commodity or a factor, etc.
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