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Significance of Microeconomics
Optimizes Resources Usage; we can see the day the number of resources accessible to us is reducing day by day. With the help of economics, we can keep our resources for our future. We get several advanced methods that help to maintain these resources or you can say that provides quality methods to us.
Utilize the Opportunity cost; this is also one of the vital rules used for resources. This provides effective methods to use these resources at minimum cost as well.
Gain social efficiency; economics gives several methods to use resources perfectly. This also helps to utilize the save amount for society as well.
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