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theory</span> </div> </a> <button aria-controls="toc-Microeconomic_theory-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Microeconomic theory subsection</span> </button> <ul id="toc-Microeconomic_theory-sublist" class="vector-toc-list"> <li id="toc-Consumer_demand_theory" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Consumer_demand_theory"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.1</span> <span>Consumer demand theory</span> </div> </a> <ul id="toc-Consumer_demand_theory-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Production_theory" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Production_theory"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.2</span> <span>Production theory</span> </div> </a> <ul id="toc-Production_theory-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Cost-of-production_theory_of_value" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Cost-of-production_theory_of_value"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.3</span> <span>Cost-of-production theory of value</span> </div> </a> <ul id="toc-Cost-of-production_theory_of_value-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Fixed_and_variable_costs" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Fixed_and_variable_costs"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.4</span> <span>Fixed and variable costs</span> </div> </a> <ul id="toc-Fixed_and_variable_costs-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Opportunity_cost" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Opportunity_cost"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.5</span> <span>Opportunity cost</span> </div> </a> <ul id="toc-Opportunity_cost-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Price_theory" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Price_theory"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.6</span> <span>Price theory</span> </div> </a> <ul id="toc-Price_theory-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Microeconomic_models" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Microeconomic_models"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>Microeconomic models</span> </div> </a> <button aria-controls="toc-Microeconomic_models-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Microeconomic models subsection</span> </button> <ul id="toc-Microeconomic_models-sublist" class="vector-toc-list"> <li id="toc-Supply_and_demand" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Supply_and_demand"> <div class="vector-toc-text"> <span class="vector-toc-numb">4.1</span> <span>Supply and demand</span> </div> </a> <ul id="toc-Supply_and_demand-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Market_structure" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Market_structure"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>Market structure</span> </div> </a> <button aria-controls="toc-Market_structure-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Market structure subsection</span> </button> <ul id="toc-Market_structure-sublist" class="vector-toc-list"> <li id="toc-Perfect_competition" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Perfect_competition"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.1</span> <span>Perfect competition</span> </div> </a> <ul id="toc-Perfect_competition-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Imperfect_competition" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Imperfect_competition"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.2</span> <span>Imperfect competition</span> </div> </a> <ul id="toc-Imperfect_competition-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Monopolistic_competition" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Monopolistic_competition"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.3</span> <span>Monopolistic competition</span> </div> </a> <ul id="toc-Monopolistic_competition-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Monopoly" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Monopoly"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.4</span> <span>Monopoly</span> </div> </a> <ul id="toc-Monopoly-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Oligopoly" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Oligopoly"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.5</span> <span>Oligopoly</span> </div> </a> <ul id="toc-Oligopoly-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Monopsony" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Monopsony"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.6</span> <span>Monopsony</span> </div> </a> <ul id="toc-Monopsony-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Bilateral_monopoly" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Bilateral_monopoly"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.7</span> <span>Bilateral monopoly</span> </div> </a> <ul id="toc-Bilateral_monopoly-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Oligopsony" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Oligopsony"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.8</span> <span>Oligopsony</span> </div> </a> <ul id="toc-Oligopsony-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Game_theory" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Game_theory"> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>Game theory</span> </div> </a> <ul id="toc-Game_theory-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Information_economics" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Information_economics"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>Information economics</span> </div> </a> <ul id="toc-Information_economics-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Applied" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Applied"> <div class="vector-toc-text"> <span class="vector-toc-numb">8</span> <span>Applied</span> </div> </a> <ul id="toc-Applied-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> <span class="vector-toc-numb">9</span> <span>See also</span> </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">10</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Further_reading" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Further_reading"> <div class="vector-toc-text"> <span class="vector-toc-numb">11</span> <span>Further reading</span> </div> </a> <ul id="toc-Further_reading-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">12</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" class="vector-dropdown-checkbox " aria-label="Toggle the table of contents" > <label id="vector-page-titlebar-toc-label" for="vector-page-titlebar-toc-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-listBullet mw-ui-icon-wikimedia-listBullet"></span> <span class="vector-dropdown-label-text">Toggle the table of contents</span> </label> <div class="vector-dropdown-content"> <div id="vector-page-titlebar-toc-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <h1 id="firstHeading" class="firstHeading mw-first-heading"><span class="mw-page-title-main">Microeconomics</span></h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. Available in 95 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-95" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">95 languages</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-af mw-list-item"><a href="https://af.wikipedia.org/wiki/Mikro-ekonomie" title="Mikro-ekonomie – Afrikaans" lang="af" hreflang="af" data-title="Mikro-ekonomie" data-language-autonym="Afrikaans" data-language-local-name="Afrikaans" class="interlanguage-link-target"><span>Afrikaans</span></a></li><li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF_%D8%AC%D8%B2%D8%A6%D9%8A" title="اقتصاد جزئي – Arabic" lang="ar" hreflang="ar" data-title="اقتصاد جزئي" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-arc mw-list-item"><a href="https://arc.wikipedia.org/wiki/%DC%A1%DC%A1%DC%98%DC%A2%DC%90_%DC%95%DC%A1%DC%9D%DC%9F%DC%AA%DC%90" title="ܡܡܘܢܐ ܕܡܝܟܪܐ – Aramaic" lang="arc" hreflang="arc" data-title="ܡܡܘܢܐ ܕܡܝܟܪܐ" data-language-autonym="ܐܪܡܝܐ" data-language-local-name="Aramaic" class="interlanguage-link-target"><span>ܐܪܡܝܐ</span></a></li><li class="interlanguage-link interwiki-hyw mw-list-item"><a href="https://hyw.wikipedia.org/wiki/%D5%84%D5%A1%D5%B6%D6%80%D5%A1%D5%BF%D5%B6%D5%BF%D5%A5%D5%BD%D5%B8%D6%82%D5%A9%D5%AB%D6%82%D5%B6" title="Մանրատնտեսութիւն – Western Armenian" lang="hyw" hreflang="hyw" data-title="Մանրատնտեսութիւն" data-language-autonym="Արեւմտահայերէն" data-language-local-name="Western Armenian" class="interlanguage-link-target"><span>Արեւմտահայերէն</span></a></li><li class="interlanguage-link interwiki-as mw-list-item"><a href="https://as.wikipedia.org/wiki/%E0%A6%AC%E0%A7%8D%E0%A6%AF%E0%A6%B7%E0%A7%8D%E0%A6%9F%E0%A6%BF%E0%A6%AC%E0%A6%BE%E0%A6%A6%E0%A7%80_%E0%A6%85%E0%A7%B0%E0%A7%8D%E0%A6%A5%E0%A6%A8%E0%A7%80%E0%A6%A4%E0%A6%BF" title="ব্যষ্টিবাদী অৰ্থনীতি – Assamese" lang="as" hreflang="as" data-title="ব্যষ্টিবাদী অৰ্থনীতি" data-language-autonym="অসমীয়া" data-language-local-name="Assamese" class="interlanguage-link-target"><span>অসমীয়া</span></a></li><li class="interlanguage-link interwiki-ast mw-list-item"><a href="https://ast.wikipedia.org/wiki/Microeconom%C3%ADa" title="Microeconomía – Asturian" lang="ast" hreflang="ast" data-title="Microeconomía" data-language-autonym="Asturianu" data-language-local-name="Asturian" class="interlanguage-link-target"><span>Asturianu</span></a></li><li class="interlanguage-link interwiki-az mw-list-item"><a href="https://az.wikipedia.org/wiki/Mikroiqtisadiyyat" title="Mikroiqtisadiyyat – Azerbaijani" lang="az" hreflang="az" data-title="Mikroiqtisadiyyat" data-language-autonym="Azərbaycanca" data-language-local-name="Azerbaijani" class="interlanguage-link-target"><span>Azərbaycanca</span></a></li><li class="interlanguage-link interwiki-azb mw-list-item"><a href="https://azb.wikipedia.org/wiki/%DA%A9%DB%8C%DA%86%DB%8C%DA%A9_%D8%A7%DB%8C%D9%82%D8%AA%DB%8C%D8%B5%D8%A7%D8%AF" title="کیچیک ایقتیصاد – South Azerbaijani" lang="azb" hreflang="azb" data-title="کیچیک ایقتیصاد" data-language-autonym="تۆرکجه" data-language-local-name="South Azerbaijani" class="interlanguage-link-target"><span>تۆرکجه</span></a></li><li class="interlanguage-link interwiki-bn mw-list-item"><a href="https://bn.wikipedia.org/wiki/%E0%A6%AC%E0%A7%8D%E0%A6%AF%E0%A6%B7%E0%A7%8D%E0%A6%9F%E0%A6%BF%E0%A6%95_%E0%A6%85%E0%A6%B0%E0%A7%8D%E0%A6%A5%E0%A6%A8%E0%A7%80%E0%A6%A4%E0%A6%BF" title="ব্যষ্টিক অর্থনীতি – Bangla" lang="bn" hreflang="bn" data-title="ব্যষ্টিক অর্থনীতি" data-language-autonym="বাংলা" data-language-local-name="Bangla" class="interlanguage-link-target"><span>বাংলা</span></a></li><li class="interlanguage-link interwiki-zh-min-nan mw-list-item"><a href="https://zh-min-nan.wikipedia.org/wiki/K%C3%B2-th%C3%A9-keng-ch%C3%A8-ha%CC%8Dk" title="Kò-thé-keng-chè-ha̍k – Minnan" lang="nan" hreflang="nan" data-title="Kò-thé-keng-chè-ha̍k" data-language-autonym="閩南語 / Bân-lâm-gú" data-language-local-name="Minnan" class="interlanguage-link-target"><span>閩南語 / Bân-lâm-gú</span></a></li><li class="interlanguage-link interwiki-be mw-list-item"><a href="https://be.wikipedia.org/wiki/%D0%9C%D1%96%D0%BA%D1%80%D0%B0%D1%8D%D0%BA%D0%B0%D0%BD%D0%BE%D0%BC%D1%96%D0%BA%D0%B0" title="Мікраэканоміка – Belarusian" lang="be" hreflang="be" data-title="Мікраэканоміка" data-language-autonym="Беларуская" data-language-local-name="Belarusian" class="interlanguage-link-target"><span>Беларуская</span></a></li><li class="interlanguage-link interwiki-be-x-old mw-list-item"><a href="https://be-tarask.wikipedia.org/wiki/%D0%9C%D1%96%D0%BA%D1%80%D0%B0%D1%8D%D0%BA%D0%B0%D0%BD%D0%BE%D0%BC%D1%96%D0%BA%D0%B0" title="Мікраэканоміка – Belarusian (Taraškievica orthography)" lang="be-tarask" hreflang="be-tarask" data-title="Мікраэканоміка" data-language-autonym="Беларуская (тарашкевіца)" data-language-local-name="Belarusian (Taraškievica orthography)" class="interlanguage-link-target"><span>Беларуская (тарашкевіца)</span></a></li><li class="interlanguage-link interwiki-bg mw-list-item"><a href="https://bg.wikipedia.org/wiki/%D0%9C%D0%B8%D0%BA%D1%80%D0%BE%D0%B8%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B8%D0%BA%D0%B0" title="Микроикономика – Bulgarian" lang="bg" hreflang="bg" data-title="Микроикономика" data-language-autonym="Български" data-language-local-name="Bulgarian" class="interlanguage-link-target"><span>Български</span></a></li><li class="interlanguage-link interwiki-bo mw-list-item"><a href="https://bo.wikipedia.org/wiki/%E0%BD%95%E0%BE%B2%E0%BC%8B%E0%BD%98%E0%BD%90%E0%BD%BC%E0%BD%84%E0%BC%8B%E0%BD%91%E0%BD%94%E0%BD%A3%E0%BC%8B%E0%BD%A0%E0%BD%96%E0%BE%B1%E0%BD%BC%E0%BD%A2%E0%BC%8D" title="ཕྲ་མཐོང་དཔལ་འབྱོར། – Tibetan" lang="bo" hreflang="bo" data-title="ཕྲ་མཐོང་དཔལ་འབྱོར།" data-language-autonym="བོད་ཡིག" data-language-local-name="Tibetan" class="interlanguage-link-target"><span>བོད་ཡིག</span></a></li><li class="interlanguage-link interwiki-bs mw-list-item"><a href="https://bs.wikipedia.org/wiki/Mikroekonomija" title="Mikroekonomija – Bosnian" lang="bs" hreflang="bs" data-title="Mikroekonomija" data-language-autonym="Bosanski" data-language-local-name="Bosnian" class="interlanguage-link-target"><span>Bosanski</span></a></li><li class="interlanguage-link interwiki-ca mw-list-item"><a href="https://ca.wikipedia.org/wiki/Microeconomia" title="Microeconomia – Catalan" lang="ca" hreflang="ca" data-title="Microeconomia" data-language-autonym="Català" data-language-local-name="Catalan" class="interlanguage-link-target"><span>Català</span></a></li><li class="interlanguage-link interwiki-ceb mw-list-item"><a href="https://ceb.wikipedia.org/wiki/Mikroekonomiya" title="Mikroekonomiya – Cebuano" lang="ceb" hreflang="ceb" data-title="Mikroekonomiya" data-language-autonym="Cebuano" data-language-local-name="Cebuano" class="interlanguage-link-target"><span>Cebuano</span></a></li><li class="interlanguage-link interwiki-cs mw-list-item"><a href="https://cs.wikipedia.org/wiki/Mikroekonomie" title="Mikroekonomie – Czech" lang="cs" hreflang="cs" data-title="Mikroekonomie" data-language-autonym="Čeština" data-language-local-name="Czech" class="interlanguage-link-target"><span>Čeština</span></a></li><li class="interlanguage-link interwiki-co mw-list-item"><a href="https://co.wikipedia.org/wiki/Microeconumia" title="Microeconumia – Corsican" lang="co" hreflang="co" data-title="Microeconumia" data-language-autonym="Corsu" data-language-local-name="Corsican" class="interlanguage-link-target"><span>Corsu</span></a></li><li class="interlanguage-link interwiki-da mw-list-item"><a href="https://da.wikipedia.org/wiki/Mikro%C3%B8konomi" title="Mikroøkonomi – Danish" lang="da" hreflang="da" data-title="Mikroøkonomi" data-language-autonym="Dansk" data-language-local-name="Danish" class="interlanguage-link-target"><span>Dansk</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Mikro%C3%B6konomie" title="Mikroökonomie – German" lang="de" hreflang="de" data-title="Mikroökonomie" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-et mw-list-item"><a href="https://et.wikipedia.org/wiki/Mikro%C3%B6konoomika" title="Mikroökonoomika – Estonian" lang="et" hreflang="et" data-title="Mikroökonoomika" data-language-autonym="Eesti" data-language-local-name="Estonian" class="interlanguage-link-target"><span>Eesti</span></a></li><li class="interlanguage-link interwiki-el mw-list-item"><a href="https://el.wikipedia.org/wiki/%CE%9C%CE%B9%CE%BA%CF%81%CE%BF%CE%BF%CE%B9%CE%BA%CE%BF%CE%BD%CE%BF%CE%BC%CE%AF%CE%B1" title="Μικροοικονομία – Greek" lang="el" hreflang="el" data-title="Μικροοικονομία" data-language-autonym="Ελληνικά" data-language-local-name="Greek" class="interlanguage-link-target"><span>Ελληνικά</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Microeconom%C3%ADa" title="Microeconomía – Spanish" lang="es" hreflang="es" data-title="Microeconomía" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-eo mw-list-item"><a href="https://eo.wikipedia.org/wiki/Mikroekonomiko" title="Mikroekonomiko – Esperanto" lang="eo" hreflang="eo" data-title="Mikroekonomiko" data-language-autonym="Esperanto" data-language-local-name="Esperanto" class="interlanguage-link-target"><span>Esperanto</span></a></li><li class="interlanguage-link interwiki-eu mw-list-item"><a href="https://eu.wikipedia.org/wiki/Mikroekonomia" title="Mikroekonomia – Basque" lang="eu" hreflang="eu" data-title="Mikroekonomia" data-language-autonym="Euskara" data-language-local-name="Basque" class="interlanguage-link-target"><span>Euskara</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF_%D8%AE%D8%B1%D8%AF" title="اقتصاد خرد – Persian" lang="fa" hreflang="fa" data-title="اقتصاد خرد" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target"><span>فارسی</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/Micro%C3%A9conomie" title="Microéconomie – French" lang="fr" hreflang="fr" data-title="Microéconomie" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-gl mw-list-item"><a href="https://gl.wikipedia.org/wiki/Microeconom%C3%ADa" title="Microeconomía – Galician" lang="gl" hreflang="gl" data-title="Microeconomía" data-language-autonym="Galego" data-language-local-name="Galician" class="interlanguage-link-target"><span>Galego</span></a></li><li class="interlanguage-link interwiki-gu mw-list-item"><a href="https://gu.wikipedia.org/wiki/%E0%AA%B8%E0%AB%82%E0%AA%95%E0%AB%8D%E0%AA%B7%E0%AB%8D%E0%AA%AE_%E0%AA%85%E0%AA%B0%E0%AB%8D%E0%AA%A5%E0%AA%B6%E0%AA%BE%E0%AA%B8%E0%AB%8D%E0%AA%A4%E0%AB%8D%E0%AA%B0" title="સૂક્ષ્મ અર્થશાસ્ત્ર – Gujarati" lang="gu" hreflang="gu" data-title="સૂક્ષ્મ અર્થશાસ્ત્ર" data-language-autonym="ગુજરાતી" data-language-local-name="Gujarati" class="interlanguage-link-target"><span>ગુજરાતી</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%EB%AF%B8%EC%8B%9C%EA%B2%BD%EC%A0%9C%ED%95%99" title="미시경제학 – Korean" lang="ko" hreflang="ko" data-title="미시경제학" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-hy mw-list-item"><a href="https://hy.wikipedia.org/wiki/%D5%84%D5%AB%D5%AF%D6%80%D5%B8%D5%A7%D5%AF%D5%B8%D5%B6%D5%B8%D5%B4%D5%AB%D5%AF%D5%A1" title="Միկրոէկոնոմիկա – Armenian" lang="hy" hreflang="hy" data-title="Միկրոէկոնոմիկա" data-language-autonym="Հայերեն" data-language-local-name="Armenian" class="interlanguage-link-target"><span>Հայերեն</span></a></li><li class="interlanguage-link interwiki-hi mw-list-item"><a href="https://hi.wikipedia.org/wiki/%E0%A4%B5%E0%A5%8D%E0%A4%AF%E0%A4%B7%E0%A5%8D%E0%A4%9F%E0%A4%BF_%E0%A4%85%E0%A4%B0%E0%A5%8D%E0%A4%A5%E0%A4%B6%E0%A4%BE%E0%A4%B8%E0%A5%8D%E0%A4%A4%E0%A5%8D%E0%A4%B0" title="व्यष्टि अर्थशास्त्र – Hindi" lang="hi" hreflang="hi" data-title="व्यष्टि अर्थशास्त्र" data-language-autonym="हिन्दी" data-language-local-name="Hindi" class="interlanguage-link-target"><span>हिन्दी</span></a></li><li class="interlanguage-link interwiki-hr mw-list-item"><a href="https://hr.wikipedia.org/wiki/Mikroekonomija" title="Mikroekonomija – Croatian" lang="hr" hreflang="hr" data-title="Mikroekonomija" data-language-autonym="Hrvatski" data-language-local-name="Croatian" class="interlanguage-link-target"><span>Hrvatski</span></a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Ekonomi_mikro" title="Ekonomi mikro – Indonesian" lang="id" hreflang="id" data-title="Ekonomi mikro" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target"><span>Bahasa Indonesia</span></a></li><li class="interlanguage-link interwiki-os mw-list-item"><a href="https://os.wikipedia.org/wiki/%D0%9C%D0%B8%D0%BA%D1%80%D0%BE%D1%8D%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B8%D0%BA%C3%A6" title="Микроэкономикæ – Ossetic" lang="os" hreflang="os" data-title="Микроэкономикæ" data-language-autonym="Ирон" data-language-local-name="Ossetic" class="interlanguage-link-target"><span>Ирон</span></a></li><li class="interlanguage-link interwiki-is mw-list-item"><a href="https://is.wikipedia.org/wiki/Rekstrarhagfr%C3%A6%C3%B0i" title="Rekstrarhagfræði – Icelandic" lang="is" hreflang="is" data-title="Rekstrarhagfræði" data-language-autonym="Íslenska" data-language-local-name="Icelandic" class="interlanguage-link-target"><span>Íslenska</span></a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Microeconomia" title="Microeconomia – Italian" lang="it" hreflang="it" data-title="Microeconomia" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target"><span>Italiano</span></a></li><li class="interlanguage-link interwiki-he mw-list-item"><a href="https://he.wikipedia.org/wiki/%D7%9E%D7%99%D7%A7%D7%A8%D7%95-%D7%9B%D7%9C%D7%9B%D7%9C%D7%94" title="מיקרו-כלכלה – Hebrew" lang="he" hreflang="he" data-title="מיקרו-כלכלה" data-language-autonym="עברית" data-language-local-name="Hebrew" class="interlanguage-link-target"><span>עברית</span></a></li><li class="interlanguage-link interwiki-kn mw-list-item"><a href="https://kn.wikipedia.org/wiki/%E0%B2%B8%E0%B3%82%E0%B2%95%E0%B3%8D%E0%B2%B7%E0%B3%8D%E0%B2%AE_%E0%B2%85%E0%B2%B0%E0%B3%8D%E0%B2%A5%E0%B2%B6%E0%B2%BE%E0%B2%B8%E0%B3%8D%E0%B2%A4%E0%B3%8D%E0%B2%B0" title="ಸೂಕ್ಷ್ಮ ಅರ್ಥಶಾಸ್ತ್ರ – Kannada" lang="kn" hreflang="kn" data-title="ಸೂಕ್ಷ್ಮ ಅರ್ಥಶಾಸ್ತ್ರ" data-language-autonym="ಕನ್ನಡ" data-language-local-name="Kannada" class="interlanguage-link-target"><span>ಕನ್ನಡ</span></a></li><li class="interlanguage-link interwiki-ka mw-list-item"><a href="https://ka.wikipedia.org/wiki/%E1%83%9B%E1%83%98%E1%83%99%E1%83%A0%E1%83%9D%E1%83%94%E1%83%99%E1%83%9D%E1%83%9C%E1%83%9D%E1%83%9B%E1%83%98%E1%83%99%E1%83%90" title="მიკროეკონომიკა – Georgian" lang="ka" hreflang="ka" data-title="მიკროეკონომიკა" data-language-autonym="ქართული" data-language-local-name="Georgian" class="interlanguage-link-target"><span>ქართული</span></a></li><li class="interlanguage-link interwiki-kk mw-list-item"><a href="https://kk.wikipedia.org/wiki/%D0%9C%D0%B8%D0%BA%D1%80%D0%BE%D1%8D%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B8%D0%BA%D0%B0" title="Микроэкономика – Kazakh" lang="kk" hreflang="kk" data-title="Микроэкономика" data-language-autonym="Қазақша" data-language-local-name="Kazakh" class="interlanguage-link-target"><span>Қазақша</span></a></li><li class="interlanguage-link interwiki-ky mw-list-item"><a href="https://ky.wikipedia.org/wiki/%D0%9C%D0%B8%D0%BA%D1%80%D0%BE%D1%8D%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B8%D0%BA%D0%B0" title="Микроэкономика – Kyrgyz" lang="ky" hreflang="ky" data-title="Микроэкономика" data-language-autonym="Кыргызча" data-language-local-name="Kyrgyz" class="interlanguage-link-target"><span>Кыргызча</span></a></li><li class="interlanguage-link interwiki-lo mw-list-item"><a href="https://lo.wikipedia.org/wiki/%E0%BB%80%E0%BA%AA%E0%BA%94%E0%BA%96%E0%BA%B0%E0%BA%AA%E0%BA%B2%E0%BA%94%E0%BA%88%E0%BA%B8%E0%BA%99%E0%BA%A5%E0%BA%B0%E0%BA%9E%E0%BA%B2%E0%BA%81" title="ເສດຖະສາດຈຸນລະພາກ – Lao" lang="lo" hreflang="lo" data-title="ເສດຖະສາດຈຸນລະພາກ" data-language-autonym="ລາວ" data-language-local-name="Lao" class="interlanguage-link-target"><span>ລາວ</span></a></li><li class="interlanguage-link interwiki-la mw-list-item"><a href="https://la.wikipedia.org/wiki/Microoeconomia" title="Microoeconomia – Latin" lang="la" hreflang="la" data-title="Microoeconomia" data-language-autonym="Latina" data-language-local-name="Latin" class="interlanguage-link-target"><span>Latina</span></a></li><li class="interlanguage-link interwiki-lv mw-list-item"><a href="https://lv.wikipedia.org/wiki/Mikroekonomika" title="Mikroekonomika – Latvian" lang="lv" hreflang="lv" data-title="Mikroekonomika" data-language-autonym="Latviešu" data-language-local-name="Latvian" class="interlanguage-link-target"><span>Latviešu</span></a></li><li class="interlanguage-link interwiki-lt mw-list-item"><a href="https://lt.wikipedia.org/wiki/Mikroekonomika" title="Mikroekonomika – Lithuanian" lang="lt" hreflang="lt" data-title="Mikroekonomika" data-language-autonym="Lietuvių" data-language-local-name="Lithuanian" class="interlanguage-link-target"><span>Lietuvių</span></a></li><li class="interlanguage-link interwiki-li mw-list-item"><a href="https://li.wikipedia.org/wiki/Mikro-ikkenemie" title="Mikro-ikkenemie – Limburgish" lang="li" hreflang="li" data-title="Mikro-ikkenemie" data-language-autonym="Limburgs" data-language-local-name="Limburgish" class="interlanguage-link-target"><span>Limburgs</span></a></li><li class="interlanguage-link interwiki-hu mw-list-item"><a href="https://hu.wikipedia.org/wiki/Mikro%C3%B6kon%C3%B3mia" title="Mikroökonómia – Hungarian" lang="hu" hreflang="hu" data-title="Mikroökonómia" data-language-autonym="Magyar" data-language-local-name="Hungarian" class="interlanguage-link-target"><span>Magyar</span></a></li><li class="interlanguage-link interwiki-mk mw-list-item"><a href="https://mk.wikipedia.org/wiki/%D0%9C%D0%B8%D0%BA%D1%80%D0%BE%D0%B5%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B8%D1%98%D0%B0" title="Микроекономија – Macedonian" lang="mk" hreflang="mk" data-title="Микроекономија" data-language-autonym="Македонски" data-language-local-name="Macedonian" class="interlanguage-link-target"><span>Македонски</span></a></li><li class="interlanguage-link interwiki-ml mw-list-item"><a href="https://ml.wikipedia.org/wiki/%E0%B4%AE%E0%B5%88%E0%B4%95%E0%B5%8D%E0%B4%B0%E0%B5%8B_%E0%B4%8E%E0%B4%95%E0%B5%8D%E0%B4%95%E0%B4%A3%E0%B5%8B%E0%B4%AE%E0%B4%BF%E0%B4%95%E0%B5%8D%E0%B4%B8%E0%B5%8D" title="മൈക്രോ എക്കണോമിക്സ് – Malayalam" lang="ml" hreflang="ml" data-title="മൈക്രോ എക്കണോമിക്സ്" data-language-autonym="മലയാളം" data-language-local-name="Malayalam" class="interlanguage-link-target"><span>മലയാളം</span></a></li><li class="interlanguage-link interwiki-arz mw-list-item"><a href="https://arz.wikipedia.org/wiki/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF_%D8%AC%D8%B2%D8%A6%D9%89" title="اقتصاد جزئى – Egyptian Arabic" lang="arz" hreflang="arz" data-title="اقتصاد جزئى" data-language-autonym="مصرى" data-language-local-name="Egyptian Arabic" class="interlanguage-link-target"><span>مصرى</span></a></li><li class="interlanguage-link interwiki-ms mw-list-item"><a href="https://ms.wikipedia.org/wiki/Mikroekonomi" title="Mikroekonomi – Malay" lang="ms" hreflang="ms" data-title="Mikroekonomi" data-language-autonym="Bahasa Melayu" data-language-local-name="Malay" class="interlanguage-link-target"><span>Bahasa Melayu</span></a></li><li class="interlanguage-link interwiki-min mw-list-item"><a href="https://min.wikipedia.org/wiki/Ekonomi_mikro" title="Ekonomi mikro – Minangkabau" lang="min" hreflang="min" data-title="Ekonomi mikro" data-language-autonym="Minangkabau" data-language-local-name="Minangkabau" class="interlanguage-link-target"><span>Minangkabau</span></a></li><li class="interlanguage-link interwiki-mn mw-list-item"><a href="https://mn.wikipedia.org/wiki/%D0%9C%D0%B8%D0%BA%D1%80%D0%BE_%D1%8D%D0%B4%D0%B8%D0%B9%D0%BD_%D0%B7%D0%B0%D1%81%D0%B0%D0%B3" title="Микро эдийн засаг – Mongolian" lang="mn" hreflang="mn" data-title="Микро эдийн засаг" data-language-autonym="Монгол" data-language-local-name="Mongolian" class="interlanguage-link-target"><span>Монгол</span></a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://nl.wikipedia.org/wiki/Micro-economie" title="Micro-economie – Dutch" lang="nl" hreflang="nl" data-title="Micro-economie" data-language-autonym="Nederlands" data-language-local-name="Dutch" class="interlanguage-link-target"><span>Nederlands</span></a></li><li class="interlanguage-link interwiki-ne mw-list-item"><a href="https://ne.wikipedia.org/wiki/%E0%A4%AE%E0%A5%82%E0%A4%B2%E0%A5%8D%E0%A4%AF_%E0%A4%B8%E0%A4%BF%E0%A4%A6%E0%A5%8D%E0%A4%A7%E0%A4%BE%E0%A4%A8%E0%A5%8D%E0%A4%A4" title="मूल्य सिद्धान्त – Nepali" lang="ne" hreflang="ne" data-title="मूल्य सिद्धान्त" data-language-autonym="नेपाली" data-language-local-name="Nepali" class="interlanguage-link-target"><span>नेपाली</span></a></li><li class="interlanguage-link interwiki-new mw-list-item"><a href="https://new.wikipedia.org/wiki/%E0%A4%AE%E0%A4%BE%E0%A4%87%E0%A4%95%E0%A5%8D%E0%A4%B0%E0%A5%8B%E0%A4%87%E0%A4%95%E0%A5%8B%E0%A4%A8%E0%A5%8B%E0%A4%AE%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%B8" title="माइक्रोइकोनोमिक्स – Newari" lang="new" hreflang="new" data-title="माइक्रोइकोनोमिक्स" data-language-autonym="नेपाल भाषा" data-language-local-name="Newari" class="interlanguage-link-target"><span>नेपाल भाषा</span></a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/%E3%83%9F%E3%82%AF%E3%83%AD%E7%B5%8C%E6%B8%88%E5%AD%A6" title="ミクロ経済学 – Japanese" lang="ja" hreflang="ja" data-title="ミクロ経済学" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target"><span>日本語</span></a></li><li class="interlanguage-link interwiki-no mw-list-item"><a href="https://no.wikipedia.org/wiki/Mikro%C3%B8konomi" title="Mikroøkonomi – Norwegian Bokmål" lang="nb" hreflang="nb" data-title="Mikroøkonomi" data-language-autonym="Norsk bokmål" data-language-local-name="Norwegian Bokmål" class="interlanguage-link-target"><span>Norsk bokmål</span></a></li><li class="interlanguage-link interwiki-nn mw-list-item"><a href="https://nn.wikipedia.org/wiki/Mikro%C3%B8konomi" title="Mikroøkonomi – Norwegian Nynorsk" lang="nn" hreflang="nn" data-title="Mikroøkonomi" data-language-autonym="Norsk nynorsk" data-language-local-name="Norwegian Nynorsk" class="interlanguage-link-target"><span>Norsk nynorsk</span></a></li><li class="interlanguage-link interwiki-uz mw-list-item"><a href="https://uz.wikipedia.org/wiki/Mikroiqtisodiyot" title="Mikroiqtisodiyot – Uzbek" lang="uz" hreflang="uz" data-title="Mikroiqtisodiyot" data-language-autonym="Oʻzbekcha / ўзбекча" data-language-local-name="Uzbek" class="interlanguage-link-target"><span>Oʻzbekcha / ўзбекча</span></a></li><li class="interlanguage-link interwiki-ps mw-list-item"><a href="https://ps.wikipedia.org/wiki/%DA%A9%D9%88%DA%86%D9%86%DB%8C_%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF" title="کوچنی اقتصاد – Pashto" lang="ps" hreflang="ps" data-title="کوچنی اقتصاد" data-language-autonym="پښتو" data-language-local-name="Pashto" class="interlanguage-link-target"><span>پښتو</span></a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://pl.wikipedia.org/wiki/Mikroekonomia" title="Mikroekonomia – Polish" lang="pl" hreflang="pl" data-title="Mikroekonomia" data-language-autonym="Polski" data-language-local-name="Polish" class="interlanguage-link-target"><span>Polski</span></a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Microeconomia" title="Microeconomia – Portuguese" lang="pt" hreflang="pt" data-title="Microeconomia" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target"><span>Português</span></a></li><li class="interlanguage-link interwiki-ro mw-list-item"><a href="https://ro.wikipedia.org/wiki/Microeconomie" title="Microeconomie – Romanian" lang="ro" hreflang="ro" data-title="Microeconomie" data-language-autonym="Română" data-language-local-name="Romanian" class="interlanguage-link-target"><span>Română</span></a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%9C%D0%B8%D0%BA%D1%80%D0%BE%D1%8D%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B8%D0%BA%D0%B0" title="Микроэкономика – Russian" lang="ru" hreflang="ru" data-title="Микроэкономика" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target"><span>Русский</span></a></li><li class="interlanguage-link interwiki-sah mw-list-item"><a href="https://sah.wikipedia.org/wiki/%D0%9C%D0%B8%D0%BA%D1%80%D0%BE%D1%8D%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B8%D0%BA%D0%B0" title="Микроэкономика – Yakut" lang="sah" hreflang="sah" data-title="Микроэкономика" data-language-autonym="Саха тыла" data-language-local-name="Yakut" class="interlanguage-link-target"><span>Саха тыла</span></a></li><li class="interlanguage-link interwiki-sq mw-list-item"><a href="https://sq.wikipedia.org/wiki/Mikroekonomia" title="Mikroekonomia – Albanian" lang="sq" hreflang="sq" data-title="Mikroekonomia" data-language-autonym="Shqip" data-language-local-name="Albanian" class="interlanguage-link-target"><span>Shqip</span></a></li><li class="interlanguage-link interwiki-scn mw-list-item"><a href="https://scn.wikipedia.org/wiki/Micruecunum%C3%ACa" title="Micruecunumìa – Sicilian" lang="scn" hreflang="scn" data-title="Micruecunumìa" data-language-autonym="Sicilianu" data-language-local-name="Sicilian" class="interlanguage-link-target"><span>Sicilianu</span></a></li><li class="interlanguage-link interwiki-si mw-list-item"><a href="https://si.wikipedia.org/wiki/%E0%B6%9A%E0%B7%8A%E0%B7%82%E0%B7%94%E0%B6%AF%E0%B7%8A%E2%80%8D%E0%B6%BB_%E0%B6%86%E0%B6%BB%E0%B7%8A%E0%B6%AE%E0%B7%92%E0%B6%9A_%E0%B7%80%E0%B7%92%E0%B6%AF%E0%B7%8A%E2%80%8D%E0%B6%BA%E0%B7%8F%E0%B7%80" title="ක්ෂුද්‍ර ආර්ථික විද්‍යාව – Sinhala" lang="si" hreflang="si" data-title="ක්ෂුද්‍ර ආර්ථික විද්‍යාව" data-language-autonym="සිංහල" data-language-local-name="Sinhala" class="interlanguage-link-target"><span>සිංහල</span></a></li><li class="interlanguage-link interwiki-simple mw-list-item"><a href="https://simple.wikipedia.org/wiki/Microeconomics" title="Microeconomics – Simple English" lang="en-simple" hreflang="en-simple" data-title="Microeconomics" data-language-autonym="Simple English" data-language-local-name="Simple English" class="interlanguage-link-target"><span>Simple English</span></a></li><li class="interlanguage-link interwiki-sk mw-list-item"><a href="https://sk.wikipedia.org/wiki/Mikroekon%C3%B3mia" title="Mikroekonómia – Slovak" lang="sk" hreflang="sk" data-title="Mikroekonómia" data-language-autonym="Slovenčina" data-language-local-name="Slovak" class="interlanguage-link-target"><span>Slovenčina</span></a></li><li class="interlanguage-link interwiki-sl mw-list-item"><a href="https://sl.wikipedia.org/wiki/Mikroekonomija" title="Mikroekonomija – Slovenian" lang="sl" hreflang="sl" data-title="Mikroekonomija" data-language-autonym="Slovenščina" data-language-local-name="Slovenian" class="interlanguage-link-target"><span>Slovenščina</span></a></li><li class="interlanguage-link interwiki-ckb mw-list-item"><a href="https://ckb.wikipedia.org/wiki/%D8%A6%D8%A7%D8%A8%D9%88%D9%88%D8%B1%D9%86%D8%A7%D8%B3%DB%8C%DB%8C_%D9%88%D8%B1%D8%AF" title="ئابوورناسیی ورد – Central Kurdish" lang="ckb" hreflang="ckb" data-title="ئابوورناسیی ورد" data-language-autonym="کوردی" data-language-local-name="Central Kurdish" class="interlanguage-link-target"><span>کوردی</span></a></li><li class="interlanguage-link interwiki-sr mw-list-item"><a href="https://sr.wikipedia.org/wiki/%D0%9C%D0%B8%D0%BA%D1%80%D0%BE%D0%B5%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B8%D1%98%D0%B0" title="Микроекономија – Serbian" lang="sr" hreflang="sr" data-title="Микроекономија" data-language-autonym="Српски / srpski" data-language-local-name="Serbian" class="interlanguage-link-target"><span>Српски / srpski</span></a></li><li class="interlanguage-link interwiki-sh mw-list-item"><a href="https://sh.wikipedia.org/wiki/Mikroekonomija" title="Mikroekonomija – Serbo-Croatian" lang="sh" hreflang="sh" data-title="Mikroekonomija" data-language-autonym="Srpskohrvatski / српскохрватски" data-language-local-name="Serbo-Croatian" class="interlanguage-link-target"><span>Srpskohrvatski / српскохрватски</span></a></li><li class="interlanguage-link interwiki-su mw-list-item"><a href="https://su.wikipedia.org/wiki/%C3%89konomi_Mikro" title="Ékonomi Mikro – Sundanese" lang="su" hreflang="su" data-title="Ékonomi Mikro" data-language-autonym="Sunda" data-language-local-name="Sundanese" class="interlanguage-link-target"><span>Sunda</span></a></li><li class="interlanguage-link interwiki-fi mw-list-item"><a href="https://fi.wikipedia.org/wiki/Mikrotaloustiede" title="Mikrotaloustiede – Finnish" lang="fi" hreflang="fi" data-title="Mikrotaloustiede" data-language-autonym="Suomi" data-language-local-name="Finnish" class="interlanguage-link-target"><span>Suomi</span></a></li><li class="interlanguage-link interwiki-sv mw-list-item"><a href="https://sv.wikipedia.org/wiki/Mikroekonomi" title="Mikroekonomi – Swedish" lang="sv" hreflang="sv" data-title="Mikroekonomi" data-language-autonym="Svenska" data-language-local-name="Swedish" class="interlanguage-link-target"><span>Svenska</span></a></li><li class="interlanguage-link interwiki-tl mw-list-item"><a href="https://tl.wikipedia.org/wiki/Mikroekonomiya" title="Mikroekonomiya – Tagalog" lang="tl" hreflang="tl" data-title="Mikroekonomiya" data-language-autonym="Tagalog" data-language-local-name="Tagalog" class="interlanguage-link-target"><span>Tagalog</span></a></li><li class="interlanguage-link interwiki-ta mw-list-item"><a href="https://ta.wikipedia.org/wiki/%E0%AE%95%E0%AF%81%E0%AE%B1%E0%AF%81%E0%AE%AE%E0%AF%8D%E0%AE%AA%E0%AF%8A%E0%AE%B0%E0%AF%81%E0%AE%B3%E0%AE%BF%E0%AE%AF%E0%AE%B2%E0%AF%8D" title="குறும்பொருளியல் – Tamil" lang="ta" hreflang="ta" data-title="குறும்பொருளியல்" data-language-autonym="தமிழ்" data-language-local-name="Tamil" class="interlanguage-link-target"><span>தமிழ்</span></a></li><li class="interlanguage-link interwiki-tt mw-list-item"><a href="https://tt.wikipedia.org/wiki/%D0%9C%D0%B8%D0%BA%D1%80%D0%BE%D1%8D%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B8%D0%BA%D0%B0" title="Микроэкономика – Tatar" lang="tt" hreflang="tt" data-title="Микроэкономика" data-language-autonym="Татарча / tatarça" data-language-local-name="Tatar" class="interlanguage-link-target"><span>Татарча / tatarça</span></a></li><li class="interlanguage-link interwiki-te mw-list-item"><a href="https://te.wikipedia.org/wiki/%E0%B0%B8%E0%B1%82%E0%B0%95%E0%B1%8D%E0%B0%B7%E0%B1%8D%E0%B0%AE_%E0%B0%85%E0%B0%B0%E0%B1%8D%E0%B0%A5_%E0%B0%B6%E0%B0%BE%E0%B0%B8%E0%B1%8D%E0%B0%A4%E0%B1%8D%E0%B0%B0%E0%B0%AE%E0%B1%81" title="సూక్ష్మ అర్థ శాస్త్రము – Telugu" lang="te" hreflang="te" data-title="సూక్ష్మ అర్థ శాస్త్రము" data-language-autonym="తెలుగు" data-language-local-name="Telugu" class="interlanguage-link-target"><span>తెలుగు</span></a></li><li class="interlanguage-link interwiki-th mw-list-item"><a href="https://th.wikipedia.org/wiki/%E0%B9%80%E0%B8%A8%E0%B8%A3%E0%B8%A9%E0%B8%90%E0%B8%A8%E0%B8%B2%E0%B8%AA%E0%B8%95%E0%B8%A3%E0%B9%8C%E0%B8%88%E0%B8%B8%E0%B8%A5%E0%B8%A0%E0%B8%B2%E0%B8%84" title="เศรษฐศาสตร์จุลภาค – Thai" lang="th" hreflang="th" data-title="เศรษฐศาสตร์จุลภาค" data-language-autonym="ไทย" data-language-local-name="Thai" class="interlanguage-link-target"><span>ไทย</span></a></li><li class="interlanguage-link interwiki-tr mw-list-item"><a href="https://tr.wikipedia.org/wiki/Mikroekonomi" title="Mikroekonomi – Turkish" lang="tr" hreflang="tr" data-title="Mikroekonomi" data-language-autonym="Türkçe" data-language-local-name="Turkish" class="interlanguage-link-target"><span>Türkçe</span></a></li><li class="interlanguage-link interwiki-uk mw-list-item"><a href="https://uk.wikipedia.org/wiki/%D0%9C%D1%96%D0%BA%D1%80%D0%BE%D0%B5%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D1%96%D0%BA%D0%B0" title="Мікроекономіка – Ukrainian" lang="uk" hreflang="uk" data-title="Мікроекономіка" data-language-autonym="Українська" data-language-local-name="Ukrainian" class="interlanguage-link-target"><span>Українська</span></a></li><li class="interlanguage-link interwiki-ur mw-list-item"><a href="https://ur.wikipedia.org/wiki/%D8%AC%D8%B2%DB%8C%D8%A7%D8%AA%DB%8C_%D9%85%D8%B9%D8%A7%D8%B4%DB%8C%D8%A7%D8%AA" title="جزیاتی معاشیات – Urdu" lang="ur" hreflang="ur" data-title="جزیاتی معاشیات" data-language-autonym="اردو" data-language-local-name="Urdu" class="interlanguage-link-target"><span>اردو</span></a></li><li class="interlanguage-link interwiki-vi mw-list-item"><a href="https://vi.wikipedia.org/wiki/Kinh_t%E1%BA%BF_h%E1%BB%8Dc_vi_m%C3%B4" title="Kinh tế học vi mô – Vietnamese" lang="vi" hreflang="vi" data-title="Kinh tế học vi mô" data-language-autonym="Tiếng Việt" data-language-local-name="Vietnamese" class="interlanguage-link-target"><span>Tiếng Việt</span></a></li><li class="interlanguage-link interwiki-war mw-list-item"><a href="https://war.wikipedia.org/wiki/Mikroekonomika" title="Mikroekonomika – Waray" lang="war" hreflang="war" data-title="Mikroekonomika" data-language-autonym="Winaray" data-language-local-name="Waray" class="interlanguage-link-target"><span>Winaray</span></a></li><li class="interlanguage-link interwiki-wuu mw-list-item"><a href="https://wuu.wikipedia.org/wiki/%E5%BE%AE%E8%A7%82%E7%BB%8F%E6%B5%8E%E5%AD%A6" title="微观经济学 – Wu" lang="wuu" hreflang="wuu" data-title="微观经济学" data-language-autonym="吴语" data-language-local-name="Wu" class="interlanguage-link-target"><span>吴语</span></a></li><li class="interlanguage-link interwiki-zh-yue mw-list-item"><a href="https://zh-yue.wikipedia.org/wiki/%E5%BE%AE%E8%A7%80%E7%B6%93%E6%BF%9F%E5%AD%B8" title="微觀經濟學 – Cantonese" lang="yue" hreflang="yue" data-title="微觀經濟學" data-language-autonym="粵語" data-language-local-name="Cantonese" class="interlanguage-link-target"><span>粵語</span></a></li><li class="interlanguage-link interwiki-diq mw-list-item"><a href="https://diq.wikipedia.org/wiki/Mikroekonomiye" title="Mikroekonomiye – Zazaki" lang="diq" hreflang="diq" data-title="Mikroekonomiye" data-language-autonym="Zazaki" data-language-local-name="Zazaki" class="interlanguage-link-target"><span>Zazaki</span></a></li><li class="interlanguage-link interwiki-zh mw-list-item"><a href="https://zh.wikipedia.org/wiki/%E5%BE%AE%E8%A7%82%E7%BB%8F%E6%B5%8E%E5%AD%A6" title="微观经济学 – Chinese" lang="zh" hreflang="zh" data-title="微观经济学" data-language-autonym="中文" data-language-local-name="Chinese" class="interlanguage-link-target"><span>中文</span></a></li><li class="interlanguage-link interwiki-iba mw-list-item"><a href="https://iba.wikipedia.org/wiki/Mikroekonomi" title="Mikroekonomi – Iban" lang="iba" hreflang="iba" data-title="Mikroekonomi" data-language-autonym="Jaku Iban" data-language-local-name="Iban" class="interlanguage-link-target"><span>Jaku Iban</span></a></li> </ul> <div class="after-portlet after-portlet-lang"><span class="wb-langlinks-edit wb-langlinks-link"><a href="https://www.wikidata.org/wiki/Special:EntityPage/Q39072#sitelinks-wikipedia" title="Edit interlanguage links" class="wbc-editpage">Edit links</a></span></div> </div> </div> </div> </header> <div class="vector-page-toolbar"> <div class="vector-page-toolbar-container"> <div id="left-navigation"> <nav aria-label="Namespaces"> <div id="p-associated-pages" class="vector-menu vector-menu-tabs mw-portlet mw-portlet-associated-pages" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="ca-nstab-main" class="selected vector-tab-noicon mw-list-item"><a href="/wiki/Microeconomics" title="View the content page [c]" accesskey="c"><span>Article</span></a></li><li id="ca-talk" class="vector-tab-noicon mw-list-item"><a href="/wiki/Talk:Microeconomics" 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typeof="mw:File"><a href="/wiki/File:Supply-demand-equilibrium.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/8/8c/Supply-demand-equilibrium.svg/120px-Supply-demand-equilibrium.svg.png" decoding="async" width="120" height="120" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/8c/Supply-demand-equilibrium.svg/180px-Supply-demand-equilibrium.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/8c/Supply-demand-equilibrium.svg/240px-Supply-demand-equilibrium.svg.png 2x" data-file-width="217" data-file-height="217" /></a></span></td></tr><tr><td class="sidebar-above"> <ul><li><a href="/wiki/History_of_economic_thought" title="History of economic thought">History</a></li> <li><a href="/wiki/Outline_of_economics" title="Outline of economics">Outline</a></li> <li><a href="/wiki/Index_of_economics_articles" title="Index of economics articles">Index</a></li></ul></td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;;color: var(--color-base)">Branches and <a href="/wiki/JEL_classification_codes" title="JEL classification codes">classifications</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Applied_economics" title="Applied economics">Applied</a></li> <li><a href="/wiki/Econometrics" title="Econometrics">Econometrics</a></li> <li><a href="/wiki/Heterodox_economics" title="Heterodox economics">Heterodox</a></li> <li><a href="/wiki/International_economics" title="International economics">International</a></li> <li><a class="mw-selflink selflink">Micro</a> / <a href="/wiki/Macroeconomics" title="Macroeconomics">Macro</a></li> <li><a href="/wiki/Mainstream_economics" title="Mainstream economics">Mainstream</a></li> <li><a href="/wiki/Mathematical_economics" title="Mathematical economics">Mathematical</a></li> <li><a href="/wiki/Economic_methodology" title="Economic methodology">Methodology</a></li> <li><a href="/wiki/Political_economy" title="Political economy">Political</a></li> <li><a href="/wiki/JEL_classification_codes" title="JEL classification codes">JEL classification codes</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;;color: var(--color-base)">Concepts, theory and techniques</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Economic_system" title="Economic system">Economic systems</a></li> <li><a href="/wiki/Economic_growth" title="Economic growth">Economic growth</a></li> <li><a href="/wiki/Market_(economics)" title="Market (economics)">Market</a></li> <li><a href="/wiki/National_accounts" title="National accounts">National accounting</a></li> <li><a href="/wiki/Experimental_economics" title="Experimental economics">Experimental economics</a></li> <li><a href="/wiki/Computational_economics" title="Computational economics">Computational economics</a></li> <li><a href="/wiki/Game_theory" title="Game theory">Game theory</a></li> <li><a href="/wiki/Operations_research" title="Operations research">Operations research</a></li> <li><a href="/wiki/Middle_income_trap" title="Middle income trap">Middle income trap</a></li> <li><a href="/wiki/Industrial_complex" title="Industrial complex">Industrial complex</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;;color: var(--color-base)">By application</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Agricultural_economics" title="Agricultural economics">Agricultural</a></li> <li><a href="/wiki/Behavioral_economics" title="Behavioral economics">Behavioral</a></li> <li><a href="/wiki/Business_economics" title="Business economics">Business</a></li> <li><a href="/wiki/Cultural_economics" title="Cultural economics">Cultural</a></li> <li><a href="/wiki/Democracy_and_economic_growth" title="Democracy and economic growth">Democracy</a></li> <li><a href="/wiki/Demographic_economics" title="Demographic economics">Demographic</a></li> <li><a href="/wiki/Development_economics" title="Development economics">Development</a></li> <li><a href="/wiki/Economics_of_digitization" title="Economics of digitization">Digitization</a></li> <li><a href="/wiki/Ecological_economics" title="Ecological economics">Ecological</a></li> <li><a href="/wiki/Education_economics" title="Education economics">Education</a></li> <li><a href="/wiki/Engineering_economics" title="Engineering economics">Engineering</a></li> <li><a href="/wiki/Environmental_economics" title="Environmental economics">Environmental</a></li> <li><a href="/wiki/Evolutionary_economics" title="Evolutionary economics">Evolutionary</a></li> <li><a href="/wiki/Expeditionary_economics" title="Expeditionary economics">Expeditionary</a></li> <li><a href="/wiki/Feminist_economics" title="Feminist economics">Feminist</a></li> <li><a href="/wiki/Financial_economics" title="Financial economics">Financial</a></li> <li><a href="/wiki/Economic_geography" title="Economic geography">Geographical</a></li> <li><a href="/wiki/Happiness_economics" title="Happiness economics">Happiness</a></li> <li><a href="/wiki/Health_economics" title="Health economics">Health</a></li> <li><a href="/wiki/Economic_history" title="Economic history">Historical</a></li> <li><a href="/wiki/Humanistic_economics" title="Humanistic economics">Humanistic</a></li> <li><a href="/wiki/Industrial_organization" title="Industrial organization">Industrial organization</a></li> <li><a href="/wiki/Information_economics" title="Information economics">Information</a></li> <li><a href="/wiki/Institutional_economics" title="Institutional economics">Institutional</a></li> <li><a href="/wiki/Knowledge_economy" title="Knowledge economy">Knowledge</a></li> <li><a href="/wiki/Labour_economics" title="Labour economics">Labour</a></li> <li><a href="/wiki/Law_and_economics" title="Law and economics">Law</a></li> <li><a href="/wiki/Managerial_economics" title="Managerial economics">Managerial</a></li> <li><a href="/wiki/Monetary_economics" title="Monetary economics">Monetary</a></li> <li><a href="/wiki/Natural_resource_economics" title="Natural resource economics">Natural resource</a></li> <li><a href="/wiki/Organizational_economics" title="Organizational economics">Organizational</a></li> <li><a href="/wiki/Economics_of_participation" title="Economics of participation">Participation</a></li> <li><a href="/wiki/Personnel_economics" title="Personnel economics">Personnel</a></li> <li><a href="/wiki/Economic_planning" title="Economic planning">Planning</a></li> <li><a href="/wiki/Economic_policy" title="Economic policy">Policy</a></li> <li><a href="/wiki/Public_economics" title="Public economics">Public</a></li> <li><a href="/wiki/Public_choice" title="Public choice">Public choice</a> / <a href="/wiki/Social_choice_theory" title="Social choice theory">Social choice theory</a></li> <li><a href="/wiki/Regional_economics" title="Regional economics">Regional</a></li> <li><a href="/wiki/Rural_economics" title="Rural economics">Rural</a></li> <li><a href="/wiki/Service_economy" title="Service economy">Service</a></li> <li><a href="/wiki/Socioeconomics" class="mw-redirect" title="Socioeconomics">Socio</a></li> <li><a href="/wiki/Economic_sociology" title="Economic sociology">Sociological</a></li> <li><a href="/wiki/Solidarity_economy" title="Solidarity economy">Solidarity</a></li> <li><a href="/wiki/Economic_statistics" title="Economic statistics">Statistics</a></li> <li><a href="/wiki/Urban_economics" title="Urban economics">Urban</a></li> <li><a href="/wiki/Welfare_economics" title="Welfare economics">Welfare</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;;color: var(--color-base)">Notable <a href="/wiki/Economist" title="Economist">economists</a></div><div class="sidebar-list-content mw-collapsible-content"> <div class="excerpt-block"><div class="excerpt"> <ul><li><a href="/wiki/Bernard_de_Mandeville" class="mw-redirect" title="Bernard de Mandeville">de Mandeville</a></li> <li><a href="/wiki/Fran%C3%A7ois_Quesnay" title="François Quesnay">Quesnay</a></li> <li><a href="/wiki/Adam_Smith" title="Adam Smith">Smith</a></li> <li><a href="/wiki/Thomas_Robert_Malthus" title="Thomas Robert Malthus">Malthus</a></li> <li><a href="/wiki/Jean-Baptiste_Say" title="Jean-Baptiste Say">Say</a></li> <li><a href="/wiki/David_Ricardo" title="David Ricardo">Ricardo</a></li> <li><a href="/wiki/Johann_Heinrich_von_Th%C3%BCnen" title="Johann Heinrich von Thünen">von Thünen</a></li> <li><a href="/wiki/Friedrich_List" title="Friedrich List">List</a></li> <li><a href="/wiki/Fr%C3%A9d%C3%A9ric_Bastiat" title="Frédéric Bastiat">Bastiat</a></li> <li><a href="/wiki/Antoine_Augustin_Cournot" title="Antoine Augustin Cournot">Cournot</a></li> <li><a href="/wiki/John_Stuart_Mill" title="John Stuart Mill">Mill</a></li> <li><a href="/wiki/Hermann_Heinrich_Gossen" title="Hermann Heinrich Gossen">Gossen</a></li> <li><a href="/wiki/Karl_Marx" title="Karl Marx">Marx</a></li> <li><a href="/wiki/L%C3%A9on_Walras" title="Léon Walras">Walras</a></li> <li><a href="/wiki/William_Stanley_Jevons" title="William Stanley Jevons">Jevons</a></li> <li><a href="/wiki/Henry_George" title="Henry George">George</a></li> <li><a href="/wiki/Carl_Menger" title="Carl Menger">Menger</a></li> <li><a href="/wiki/Alfred_Marshall" title="Alfred Marshall">Marshall</a></li> <li><a href="/wiki/Francis_Ysidro_Edgeworth" title="Francis Ysidro Edgeworth">Edgeworth</a></li> <li><a href="/wiki/John_Bates_Clark" title="John Bates Clark">Clark</a></li> <li><a href="/wiki/Vilfredo_Pareto" title="Vilfredo Pareto">Pareto</a></li> <li><a href="/wiki/Eugen_von_B%C3%B6hm-Bawerk" title="Eugen von Böhm-Bawerk">von Böhm-Bawerk</a></li> <li><a href="/wiki/Friedrich_von_Wieser" title="Friedrich von Wieser">von Wieser</a></li> <li><a href="/wiki/Thorstein_Veblen" title="Thorstein Veblen">Veblen</a></li> <li><a href="/wiki/Irving_Fisher" title="Irving Fisher">Fisher</a></li> <li><a href="/wiki/Arthur_Cecil_Pigou" title="Arthur Cecil Pigou">Pigou</a></li> <li><a href="/wiki/Eli_Heckscher" title="Eli Heckscher">Heckscher</a></li> <li><a href="/wiki/Ludwig_von_Mises" title="Ludwig von Mises">von Mises</a></li> <li><a href="/wiki/Joseph_Schumpeter" title="Joseph Schumpeter">Schumpeter</a></li> <li><a href="/wiki/John_Maynard_Keynes" title="John Maynard Keynes">Keynes</a></li> <li><a href="/wiki/Frank_Knight" title="Frank Knight">Knight</a></li> <li><a href="/wiki/Karl_Polanyi" title="Karl Polanyi">Polanyi</a></li> <li><a href="/wiki/Ragnar_Frisch" title="Ragnar Frisch">Frisch</a></li> <li><a href="/wiki/Piero_Sraffa" title="Piero Sraffa">Sraffa</a></li> <li><a href="/wiki/Gunnar_Myrdal" title="Gunnar Myrdal">Myrdal</a></li> <li><a href="/wiki/Friedrich_Hayek" title="Friedrich Hayek">Hayek</a></li> <li><a href="/wiki/Micha%C5%82_Kalecki" title="Michał Kalecki">Kalecki</a></li> <li><a href="/wiki/Wilhelm_R%C3%B6pke" title="Wilhelm Röpke">Röpke</a></li> <li><a href="/wiki/Simon_Kuznets" title="Simon Kuznets">Kuznets</a></li> <li><a href="/wiki/Jan_Tinbergen" title="Jan Tinbergen">Tinbergen</a></li> <li><a href="/wiki/Joan_Robinson" title="Joan Robinson">Robinson</a></li> <li><a href="/wiki/John_von_Neumann" title="John von Neumann">von Neumann</a></li> <li><a href="/wiki/John_Hicks" title="John Hicks">Hicks</a></li> <li><a href="/wiki/Oskar_R._Lange" title="Oskar R. Lange">Lange</a></li> <li><a href="/wiki/Wassily_Leontief" title="Wassily Leontief">Leontief</a></li> <li><a href="/wiki/John_Kenneth_Galbraith" title="John Kenneth Galbraith">Galbraith</a></li> <li><a href="/wiki/Tjalling_Koopmans" title="Tjalling Koopmans">Koopmans</a></li> <li><a href="/wiki/E._F._Schumacher" title="E. F. Schumacher">Schumacher</a></li> <li><a href="/wiki/Milton_Friedman" title="Milton Friedman">Friedman</a></li> <li><a href="/wiki/Paul_Samuelson" title="Paul Samuelson">Samuelson</a></li> <li><a href="/wiki/Herbert_A._Simon" title="Herbert A. Simon">Simon</a></li> <li><a href="/wiki/James_M._Buchanan" title="James M. Buchanan">Buchanan</a></li> <li><a href="/wiki/Kenneth_Arrow" title="Kenneth Arrow">Arrow</a></li> <li><a href="/wiki/William_Baumol" title="William Baumol">Baumol</a></li> <li><a href="/wiki/Robert_Solow" title="Robert Solow">Solow</a></li> <li><a href="/wiki/Murray_Rothbard" title="Murray Rothbard">Rothbard</a></li> <li><a href="/wiki/Alan_Greenspan" title="Alan Greenspan">Greenspan</a></li> <li><a href="/wiki/Thomas_Sowell" title="Thomas Sowell">Sowell</a></li> <li><a href="/wiki/Gary_Becker" title="Gary Becker">Becker</a></li> <li><a href="/wiki/Elinor_Ostrom" title="Elinor Ostrom">Ostrom</a></li> <li><a href="/wiki/Amartya_Sen" title="Amartya Sen">Sen</a></li> <li><a href="/wiki/Robert_Lucas_Jr." title="Robert Lucas Jr.">Lucas</a></li> <li><a href="/wiki/Joseph_Stiglitz" title="Joseph Stiglitz">Stiglitz</a></li> <li><a href="/wiki/Richard_Thaler" title="Richard Thaler">Thaler</a></li> <li><a href="/wiki/Hans-Hermann_Hoppe" title="Hans-Hermann Hoppe">Hoppe</a></li> <li><a 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href="/wiki/Template:Economics_sidebar" title="Template:Economics sidebar"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Economics_sidebar" title="Template talk:Economics sidebar"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Economics_sidebar" title="Special:EditPage/Template:Economics sidebar"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <figure class="mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:Delhi_main_bazaar.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/8/8e/Delhi_main_bazaar.jpg/300px-Delhi_main_bazaar.jpg" decoding="async" width="300" height="225" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/8e/Delhi_main_bazaar.jpg/450px-Delhi_main_bazaar.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/8e/Delhi_main_bazaar.jpg/600px-Delhi_main_bazaar.jpg 2x" data-file-width="2560" data-file-height="1920" /></a><figcaption>Microeconomics analyzes the <a href="/wiki/Market_mechanism" title="Market mechanism">market mechanisms</a> that enable buyers and sellers to establish <a href="/wiki/Relative_price" title="Relative price">relative prices</a> among goods and services. Shown is a marketplace in Delhi.</figcaption></figure> <p><b>Microeconomics</b> is a branch of <a href="/wiki/Economics" title="Economics">economics</a> that studies the behavior of individuals and <a href="/wiki/Theory_of_the_firm" title="Theory of the firm">firms</a> in making decisions regarding the allocation of <a href="/wiki/Scarcity" title="Scarcity">scarce resources</a> and the interactions among these individuals and firms.<sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-glossary_2-0" class="reference"><a href="#cite_note-glossary-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> Microeconomics focuses on the study of individual markets, sectors, or industries as opposed to the economy as a whole, which is studied in <a href="/wiki/Macroeconomics" title="Macroeconomics">macroeconomics</a>. </p><p>One goal of microeconomics is to analyze the <a href="/wiki/Market_mechanism" title="Market mechanism">market mechanisms</a> that establish <a href="/wiki/Relative_price" title="Relative price">relative prices</a> among goods and services and allocate limited resources among alternative uses<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (March 2023)">citation needed</span></a></i>]</sup>. Microeconomics shows conditions under which free markets lead to desirable allocations. It also analyzes <a href="/wiki/Market_failure" title="Market failure">market failure</a>, where markets fail to produce <a href="/wiki/Economic_efficiency" title="Economic efficiency">efficient</a> results.<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p><p>While microeconomics focuses on firms and individuals, macroeconomics focuses on the total of economic activity, dealing with the issues of <a href="/wiki/Economic_growth" title="Economic growth">growth</a>, <a href="/wiki/Inflation" title="Inflation">inflation</a>, and <a href="/wiki/Unemployment" title="Unemployment">unemployment</a>—and with national policies relating to these issues.<sup id="cite_ref-glossary_2-1" class="reference"><a href="#cite_note-glossary-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> Microeconomics also deals with the effects of economic policies (such as changing <a href="/wiki/Taxation" class="mw-redirect" title="Taxation">taxation</a> levels) on microeconomic behavior and thus on the aforementioned aspects of the economy.<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> Particularly in the wake of the <a href="/wiki/Lucas_critique" title="Lucas critique">Lucas critique</a>, much of modern macroeconomic theories has been built upon <a href="/wiki/Microfoundations" title="Microfoundations">microfoundations</a>—i.e., based upon basic assumptions about micro-level behavior. </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Assumptions_and_definitions">Assumptions and definitions</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=1" title="Edit section: Assumptions and definitions"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Microeconomic study historically has been performed according to general equilibrium theory, developed by Léon Walras in <i>Elements of Pure Economics</i> (1874) and partial equilibrium theory, introduced by Alfred Marshall in <i>Principles of Economics</i> (1890).<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> </p><p>Microeconomic theory typically begins with the study of a single rational and <a href="/wiki/Utility_maximization_problem" title="Utility maximization problem">utility maximizing</a> individual. To economists, <a href="/wiki/Rationality" title="Rationality">rationality</a> means an individual possesses stable <a href="/wiki/Preference_(economics)" title="Preference (economics)">preferences</a> that are both <a href="/wiki/Preference_(economics)#Types_of_preferences" title="Preference (economics)">complete</a> and <a href="/wiki/Transitive_relation" title="Transitive relation">transitive</a>. </p><p>The <a href="/wiki/Mathematical_economics" title="Mathematical economics">technical</a> assumption that preference relations are <a href="/wiki/Continuous_function" title="Continuous function">continuous</a> is needed to ensure the existence of a <a href="/wiki/Utility#Quantifying_utility" title="Utility">utility function</a>. Although microeconomic theory can continue without this assumption, it would make <a href="/wiki/Comparative_statics" title="Comparative statics">comparative statics</a> impossible since there is no guarantee that the resulting utility function would be <a href="/wiki/Differentiable_function" title="Differentiable function">differentiable</a>. </p><p>Microeconomic theory progresses by defining a <a href="/wiki/Budget_set" title="Budget set">competitive budget set</a> which is a subset of the <a href="/wiki/Consumption_set" class="mw-redirect" title="Consumption set">consumption set</a>. It is at this point that economists make the technical assumption that preferences are <a href="/wiki/Local_nonsatiation" title="Local nonsatiation">locally non-satiated</a>. Without the assumption of LNS (local non-satiation) there is no 100% guarantee but there would be a rational rise <sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (March 2023)">citation needed</span></a></i>]</sup> in individual <a href="/wiki/Utility" title="Utility">utility</a>. With the necessary tools and assumptions in place the <a href="/wiki/Utility_maximization_problem" title="Utility maximization problem">utility maximization problem (UMP)</a> is developed. </p><p>The utility maximization problem is the heart of <a href="/wiki/Consumer_choice" title="Consumer choice">consumer theory</a>. The utility maximization problem attempts to explain the <a href="/wiki/Action_axiom" title="Action axiom">action axiom</a> by imposing rationality axioms on consumer preferences and then mathematically modeling and analyzing the consequences. <sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (March 2023)">citation needed</span></a></i>]</sup> The utility maximization problem serves not only as the mathematical foundation of consumer theory but as a <a href="/wiki/Metaphysics" title="Metaphysics">metaphysical</a> explanation of it as well. That is, the utility maximization problem is used by economists to not only explain <i>what</i> or <i>how</i> individuals make choices but <i>why</i> individuals make choices as well. </p><p>The utility maximization problem is a <a href="/wiki/Constrained_optimization" title="Constrained optimization">constrained optimization</a> problem in which an individual seeks to maximize utility subject to a <a href="/wiki/Budget_constraint" title="Budget constraint">budget constraint</a>. Economists use the <a href="/wiki/Extreme_value_theorem" title="Extreme value theorem">extreme value theorem</a> to guarantee that a solution to the utility maximization problem exists. That is, since the <a href="/wiki/Budget_set" title="Budget set">budget constraint</a> is both bounded and closed, a solution to the utility maximization problem exists. Economists call the solution to the utility maximization problem a <a href="/wiki/Marshallian_demand_function" title="Marshallian demand function">Walrasian demand function</a> or correspondence. <sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (March 2023)">citation needed</span></a></i>]</sup> </p><p>The utility maximization problem has so far been developed by taking consumer tastes (i.e. consumer utility) as primitive. However, an alternative way to develop microeconomic theory is by taking consumer choice as primitive. This model of microeconomic theory is referred to as <a href="/wiki/Revealed_preference" title="Revealed preference">revealed preference</a> theory. </p> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Supply-demand-right-shift-demand.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/e/eb/Supply-demand-right-shift-demand.svg/220px-Supply-demand-right-shift-demand.svg.png" decoding="async" width="220" height="220" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/eb/Supply-demand-right-shift-demand.svg/330px-Supply-demand-right-shift-demand.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/eb/Supply-demand-right-shift-demand.svg/440px-Supply-demand-right-shift-demand.svg.png 2x" data-file-width="217" data-file-height="217" /></a><figcaption>The <a href="/wiki/Supply_and_demand" title="Supply and demand">supply and demand</a> model describes how prices vary as a result of a balance between product availability at each price (supply) and the desires of those with purchasing power at each price (demand). The graph depicts a right-shift in demand from D<sub>1</sub> to D<sub>2</sub> along with the consequent increase in price and quantity required to reach a new market-clearing equilibrium point on the supply curve (S).</figcaption></figure> <p>The theory of <a href="/wiki/Supply_and_demand" title="Supply and demand">supply and demand</a> usually assumes that markets are <a href="/wiki/Perfect_competition" title="Perfect competition">perfectly competitive</a>. This implies that there are many buyers and sellers in the market and none of them have the capacity to significantly influence prices of goods and services. In many real-life transactions, the assumption fails because some individual buyers or sellers have the ability to influence prices. Quite often, a sophisticated analysis is required to understand the demand-supply equation of a good model. However, the theory works well in situations meeting these assumptions. </p><p><a href="/wiki/Mainstream_economics" title="Mainstream economics">Mainstream economics</a> does not assume <i><a href="https://en.wiktionary.org/wiki/a_priori#Adjective" class="extiw" title="wikt:a priori">a priori</a></i> that markets are preferable to other forms of social organization. In fact, much analysis is devoted to cases where <a href="/wiki/Market_failure" title="Market failure">market failures</a> lead to <a href="/wiki/Resource_allocation" title="Resource allocation">resource allocation</a> that is suboptimal and creates <a href="/wiki/Deadweight_loss" title="Deadweight loss">deadweight loss</a>. A classic example of suboptimal resource allocation is that of a <a href="/wiki/Public_good_(economics)" title="Public good (economics)">public good</a>. In such cases, <a href="/wiki/Economist" title="Economist">economists</a> may attempt to find policies that avoid waste, either directly by government control, indirectly by regulation that induces market participants to act in a manner consistent with optimal welfare, or by creating "<a href="/wiki/Missing_market" title="Missing market">missing markets</a>" to enable efficient trading where none had previously existed. </p><p>This is studied in the field of <a href="/wiki/Collective_action" title="Collective action">collective action</a> and <a href="/wiki/Public_choice_theory" class="mw-redirect" title="Public choice theory">public choice theory</a>. "Optimal welfare" usually takes on a <a href="/wiki/Pareto_efficiency" title="Pareto efficiency">Paretian</a> norm, which is a mathematical application of the <a href="/wiki/Kaldor%E2%80%93Hicks_efficiency" title="Kaldor–Hicks efficiency">Kaldor–Hicks method</a>. This can diverge from the <a href="/wiki/Utilitarianism" title="Utilitarianism">Utilitarian</a> goal of maximizing <a href="/wiki/Utility_(economics)" class="mw-redirect" title="Utility (economics)">utility</a> because it does not consider the distribution of goods between people. Market failure in positive economics (microeconomics) is limited in implications without mixing the belief of the economist and their theory. </p><p>The demand for various commodities by individuals is generally thought of as the outcome of a utility-maximizing process, with each individual trying to maximize their own utility under a <a href="/wiki/Budget_constraint" title="Budget constraint">budget constraint</a> and a given consumption set. </p> <div class="mw-heading mw-heading3"><h3 id="Allocation_of_scarce_resources">Allocation of scarce resources</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=2" title="Edit section: Allocation of scarce resources"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Individuals and firms need to allocate limited resources to ensure all <b>agents</b> in the economy are well off. Firms decide which goods and services to produce considering low costs involving labor, materials and capital as well as potential profit margins. Consumers choose the good and services they want that will maximize their happiness taking into account their limited wealth.<sup id="cite_ref-:1_7-0" class="reference"><a href="#cite_note-:1-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> </p><p>The government can make these allocation decisions or they can be independently made by the consumers and firms. For example, in the former Soviet Union, the government played a part in informing car manufacturers which cars to produce and which consumers will gain access to a car.<sup id="cite_ref-:1_7-1" class="reference"><a href="#cite_note-:1-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="History">History</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=3" title="Edit section: History"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/History_of_microeconomics" title="History of microeconomics">History of microeconomics</a></div> <p>Economists commonly consider themselves microeconomists or macroeconomists. The difference between microeconomics and macroeconomics likely was introduced in 1933 by the Norwegian economist <a href="/wiki/Ragnar_Frisch" title="Ragnar Frisch">Ragnar Frisch</a>, the co-recipient of the first <a href="/wiki/Nobel_Memorial_Prize_in_Economic_Sciences" title="Nobel Memorial Prize in Economic Sciences">Nobel Memorial Prize in Economic Sciences</a> in 1969.<sup id="cite_ref-:0_8-0" class="reference"><a href="#cite_note-:0-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Varian_H.R._1987_9-0" class="reference"><a href="#cite_note-Varian_H.R._1987-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> However, Frisch did not actually use the word "microeconomics", instead drawing distinctions between "micro-dynamic" and "macro-dynamic" analysis in a way similar to how the words "microeconomics" and "macroeconomics" are used today.<sup id="cite_ref-:0_8-1" class="reference"><a href="#cite_note-:0-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> The first known use of the term "microeconomics" in a published article was from Pieter de Wolff in 1941, who broadened the term "micro-dynamics" into "microeconomics".<sup id="cite_ref-Varian_H.R._1987_9-1" class="reference"><a href="#cite_note-Varian_H.R._1987-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Microeconomic_theory">Microeconomic theory</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=4" title="Edit section: Microeconomic theory"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="Consumer_demand_theory">Consumer demand theory</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=5" title="Edit section: Consumer demand theory"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Consumer_choice" title="Consumer choice">Consumer choice</a></div> <p>Consumer demand theory relates <a href="/wiki/Preference_(economics)" title="Preference (economics)">preferences</a> for the consumption of both <a href="/wiki/Good_(economics)" class="mw-redirect" title="Good (economics)">goods</a> and services to the consumption expenditures; ultimately, this relationship between preferences and consumption expenditures is used to relate preferences to <a href="/wiki/Supply_and_demand" title="Supply and demand">consumer demand curves</a>. The link between personal preferences, consumption and the <a href="/wiki/Demand_curve" title="Demand curve">demand curve</a> is one of the most closely studied relations in economics. It is a way of analyzing how consumers may achieve <a href="/wiki/Equilibrium_(economics)" class="mw-redirect" title="Equilibrium (economics)">equilibrium</a> between preferences and expenditures by maximizing <a href="/wiki/Utility" title="Utility">utility</a> subject to consumer <a href="/wiki/Budget_constraint" title="Budget constraint">budget constraints</a>. </p> <div class="mw-heading mw-heading3"><h3 id="Production_theory">Production theory</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=6" title="Edit section: Production theory"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Production_theory" class="mw-redirect" title="Production theory">Production theory</a></div> <p>Production theory is the study of production, or the economic process of converting inputs into outputs.<sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> <a href="/wiki/Production_(economics)" title="Production (economics)">Production</a> uses <a href="/wiki/Resource" title="Resource">resources</a> to create a <a href="/wiki/Good_(economics)" class="mw-redirect" title="Good (economics)">good</a> or <a href="/wiki/Service_(economics)" title="Service (economics)">service</a> that is suitable for use, <a href="/wiki/Gift" title="Gift">gift</a>-giving in a <a href="/wiki/Gift_economy" title="Gift economy">gift economy</a>, or <a href="/wiki/Trade" title="Trade">exchange</a> in a <a href="/wiki/Market_economy" title="Market economy">market economy</a>. This can include <a href="/wiki/Manufacturing" title="Manufacturing">manufacturing</a>, storing, <a href="/wiki/Shipping" class="mw-redirect" title="Shipping">shipping</a>, and <a href="/wiki/Packaging" title="Packaging">packaging</a>. Some economists define production broadly as all economic activity other than <a href="/wiki/Consumption_(economics)" title="Consumption (economics)">consumption</a>. They see every commercial activity other than the final purchase as some form of production. </p> <div class="mw-heading mw-heading3"><h3 id="Cost-of-production_theory_of_value">Cost-of-production theory of value</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=7" title="Edit section: Cost-of-production theory of value"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Cost-of-production_theory_of_value" title="Cost-of-production theory of value">Cost-of-production theory of value</a></div> <p>The cost-of-production theory of value states that the price of an object or condition is determined by the sum of the cost of the resources that went into making it. The cost can comprise any of the <a href="/wiki/Factors_of_production" title="Factors of production">factors of production</a> (including <a href="/wiki/Wage_labour" title="Wage labour">labor</a>, <a href="/wiki/Capital_(economics)" title="Capital (economics)">capital</a>, or <a href="/wiki/Land_(economics)" title="Land (economics)">land</a>) and taxation. <a href="/wiki/Technology" title="Technology">Technology</a> can be viewed either as a form of <a href="/wiki/Fixed_capital" title="Fixed capital">fixed capital</a> (e.g. an <a href="/wiki/Physical_plant" title="Physical plant">industrial plant</a>) or <a href="/wiki/Circulating_capital" title="Circulating capital">circulating capital</a> (e.g. <a href="/wiki/Intermediate_goods" class="mw-redirect" title="Intermediate goods">intermediate goods</a>). </p><p>In the mathematical model for the cost of production, the short-run total cost is equal to <a href="/wiki/Fixed_cost" title="Fixed cost">fixed cost</a> plus total <a href="/wiki/Variable_cost" title="Variable cost">variable cost</a>. The fixed cost refers to the cost that is incurred regardless of how much the firm produces. The variable cost is a function of the quantity of an object being produced. The cost function can be used to characterize production through the duality theory in economics, developed mainly by <a href="/wiki/Ronald_Shephard" title="Ronald Shephard">Ronald Shephard</a> (1953, 1970) and other scholars (Sickles & Zelenyuk, 2019, ch. 2). </p> <div class="mw-heading mw-heading3"><h3 id="Fixed_and_variable_costs">Fixed and variable costs</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=8" title="Edit section: Fixed and variable costs"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/Fixed_cost" title="Fixed cost">Fixed cost</a> (FC) – This cost does not change with output. It includes business expenses such as rent, salaries and utility bills.</li> <li><a href="/wiki/Variable_cost" title="Variable cost">Variable cost</a> (VC) – This cost changes as output changes. This includes raw materials, delivery costs and production supplies.</li></ul> <p>Over a short time period (few months), most costs are fixed costs as the firm will have to pay for salaries, contracted shipment and materials used to produce various goods. Over a longer time period (2-3 years), costs can become variable. Firms can decide to reduce output, purchase fewer materials and even sell some machinery. Over 10 years, most costs become variable as workers can be laid off or new machinery can be bought to replace the old machinery <sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> </p><p><a href="/wiki/Sunk_Costs" class="mw-redirect" title="Sunk Costs">Sunk Costs</a> – This is a fixed cost that has already been incurred and cannot be recovered. An example of this can be in R&D development like in the pharmaceutical industry. Hundreds of millions of dollars are spent to achieve new drug breakthroughs but this is challenging as its increasingly harder to find new breakthroughs and meet tighter regulation standards. Thus many projects are written off leading to losses of millions of dollars <sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Opportunity_cost">Opportunity cost</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=9" title="Edit section: Opportunity cost"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Opportunity_cost" title="Opportunity cost">Opportunity cost</a></div> <p>Opportunity cost is closely related to the idea of time constraints. One can do only one thing at a time, which means that, inevitably, one is always giving up other things. The opportunity cost of any activity is the value of the next-best alternative thing one may have done instead. Opportunity cost depends only on the value of the next-best alternative. It does not matter whether one has five alternatives or 5,000. </p><p>Opportunity costs can tell when <i>not</i> to do something as well as when to do something. For example, one may like waffles, but like chocolate even more. If someone offers only waffles, one would take it. But if offered waffles or chocolate, one would take the chocolate. The opportunity cost of eating waffles is sacrificing the chance to eat chocolate. Because the cost of not eating the chocolate is higher than the benefits of eating the waffles, it makes no sense to choose waffles. Of course, if one chooses chocolate, they are still faced with the opportunity cost of giving up having waffles. But one is willing to do that because the waffle's opportunity cost is lower than the benefits of the chocolate. Opportunity costs are unavoidable constraints on behavior because one has to decide what's best and give up the next-best alternative. </p> <div class="mw-heading mw-heading3"><h3 id="Price_theory">Price theory</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=10" title="Edit section: Price theory"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Microeconomics is also known as price theory to highlight the significance of prices in relation to buyer and sellers as these agents determine prices due to their individual actions.<sup id="cite_ref-:1_7-2" class="reference"><a href="#cite_note-:1-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> Price theory is a field of <a href="/wiki/Economics" title="Economics">economics</a> that uses the <a href="/wiki/Supply_and_demand" title="Supply and demand">supply and demand</a> framework to explain and predict human behavior. It is associated with the <a href="/wiki/Chicago_school_of_economics" title="Chicago school of economics">Chicago School of Economics</a>. Price theory studies <a href="/wiki/Competitive_equilibrium" title="Competitive equilibrium">competitive equilibrium</a> in <a href="/wiki/Market_(economics)" title="Market (economics)">markets</a> to yield testable hypotheses that can be rejected. </p><p>Price theory is not the same as microeconomics. Strategic behavior, such as the interactions among sellers in a market where they are few, is a significant part of microeconomics but is not emphasized in price theory. Price theorists focus on competition believing it to be a reasonable description of most markets that leaves room to study additional aspects of tastes and technology. As a result, price theory tends to use less <a href="/wiki/Game_theory" title="Game theory">game theory</a> than microeconomics does. </p><p>Price theory focuses on how agents respond to prices, but its framework can be applied to a wide variety of socioeconomic issues that might not seem to involve prices at first glance. Price theorists have influenced several other fields including developing <a href="/wiki/Public_choice" title="Public choice">public choice theory</a> and <a href="/wiki/Law_and_economics" title="Law and economics">law and economics</a>. Price theory has been applied to issues previously thought of as outside the purview of economics such as criminal justice, marriage, and addiction. </p> <div class="mw-heading mw-heading2"><h2 id="Microeconomic_models">Microeconomic models</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=11" title="Edit section: Microeconomic models"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="Supply_and_demand">Supply and demand</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=12" title="Edit section: Supply and demand"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Supply_and_demand" title="Supply and demand">Supply and demand</a></div> <p>Supply and demand is an <a href="/wiki/Economic_model" title="Economic model">economic model</a> of <a href="/wiki/Price_determination" class="mw-redirect" title="Price determination">price determination</a> in a perfectly competitive <a href="/wiki/Market_(economics)" title="Market (economics)">market</a>. It concludes that in a <a href="/wiki/Perfect_competition" title="Perfect competition">perfectly competitive market</a> with no <a href="/wiki/Externality" title="Externality">externalities</a>, <a href="/wiki/Excise" title="Excise">per unit taxes</a>, or <a href="/wiki/Price_controls" title="Price controls">price controls</a>, the <a href="/wiki/Unit_price" title="Unit price">unit price</a> for a particular <a href="/wiki/Good_(economics)" class="mw-redirect" title="Good (economics)">good</a> is the price at which the quantity demanded by consumers equals the quantity supplied by producers. This price results in a stable <a href="/wiki/Economic_equilibrium" title="Economic equilibrium">economic equilibrium</a>. </p> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Supply-demand-right-shift-demand.svg" class="mw-file-description"><img alt="A graph depicting Quantity on the X-axis and Price on the Y-axis" src="//upload.wikimedia.org/wikipedia/commons/thumb/e/eb/Supply-demand-right-shift-demand.svg/220px-Supply-demand-right-shift-demand.svg.png" decoding="async" width="220" height="220" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/eb/Supply-demand-right-shift-demand.svg/330px-Supply-demand-right-shift-demand.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/eb/Supply-demand-right-shift-demand.svg/440px-Supply-demand-right-shift-demand.svg.png 2x" data-file-width="217" data-file-height="217" /></a><figcaption>The <a href="/wiki/Supply_and_demand" title="Supply and demand">supply and demand</a> model describes how prices vary as a result of a balance between product availability and demand. The graph depicts an increase (that is, right-shift) in demand from D<sub>1</sub> to D<sub>2</sub> along with the consequent increase in price and quantity required to reach a new equilibrium point on the supply curve (S).</figcaption></figure> <p><a href="/wiki/Prices_and_quantities" class="mw-redirect" title="Prices and quantities">Prices and quantities</a> have been described as the most directly observable attributes of goods produced and exchanged in a <a href="/wiki/Market_economy" title="Market economy">market economy</a>.<sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> The theory of supply and demand is an organizing principle for explaining how prices coordinate the amounts produced and consumed. In microeconomics, it applies to price and output determination for a market with <a href="/wiki/Perfect_competition" title="Perfect competition">perfect competition</a>, which includes the condition of no buyers or sellers large enough to have price-setting <a href="/wiki/Market_power" title="Market power">power</a>. </p><p>For a given market of a <a href="/wiki/Good_(economics_and_accounting)" class="mw-redirect" title="Good (economics and accounting)">commodity</a>, demand is the relation of the quantity that all buyers would be prepared to purchase at each unit price of the good. Demand is often represented by a table or a graph showing price and quantity demanded (as in the figure). <a href="/wiki/Consumer_theory" class="mw-redirect" title="Consumer theory">Demand theory</a> describes individual consumers as <a href="/wiki/Rational_choice_theory" class="mw-redirect" title="Rational choice theory">rationally</a> choosing the most preferred quantity of each good, given income, prices, tastes, etc. A term for this is "constrained utility maximization" (with income and <a href="/wiki/Wealth_(economics)" class="mw-redirect" title="Wealth (economics)">wealth</a> as the <a href="/wiki/Budget_constraint" title="Budget constraint">constraints</a> on demand). Here, <a href="/wiki/Utility" title="Utility">utility</a> refers to the hypothesized relation of each individual consumer for ranking different commodity bundles as more or less preferred. </p><p>The <a href="/wiki/Law_of_demand" title="Law of demand">law of demand</a> states that, in general, price and quantity demanded in a given market are inversely related. That is, the higher the price of a product, the less of it people would be prepared to buy (other things <a href="/wiki/Ceteris_paribus" title="Ceteris paribus">unchanged</a>). As the price of a commodity falls, consumers move toward it from relatively more expensive goods (the <a href="/wiki/Substitution_effect" title="Substitution effect">substitution effect</a>). In addition, <a href="/wiki/Purchasing_power" title="Purchasing power">purchasing power</a> from the price decline increases ability to buy (the <a href="/wiki/Income_effect" class="mw-redirect" title="Income effect">income effect</a>). Other factors can change demand; for example an increase in income will shift the demand curve for a <a href="/wiki/Normal_good" title="Normal good">normal good</a> outward relative to the origin, as in the figure. All determinants are predominantly taken as constant factors of demand and supply. </p><p><i>Supply</i> is the relation between the price of a good and the quantity available for sale at that price. It may be represented as a table or graph relating price and quantity supplied. Producers, for example business firms, are hypothesized to be <i>profit maximizers</i>, meaning that they attempt to produce and supply the amount of goods that will bring them the highest profit. Supply is typically represented as a function relating price and quantity, if other factors are unchanged. </p><p>That is, the higher the price at which the good can be sold, the more of it producers will supply, as in the figure. The higher price makes it profitable to increase production. Just as on the demand side, the position of the supply can shift, say from a change in the price of a productive input or a technical improvement. The "Law of Supply" states that, in general, a rise in price leads to an expansion in supply and a fall in price leads to a contraction in supply. Here as well, the determinants of supply, such as price of substitutes, cost of production, technology applied and various factors of inputs of production are all taken to be constant for a specific time period of evaluation of supply. </p><p><a href="/wiki/Market_equilibrium" class="mw-redirect" title="Market equilibrium">Market equilibrium</a> occurs where quantity supplied equals quantity demanded, the intersection of the supply and demand curves in the figure above. At a price below equilibrium, there is a shortage of quantity supplied compared to quantity demanded. This is posited to bid the price up. At a price above equilibrium, there is a surplus of quantity supplied compared to quantity demanded. This pushes the price down. The <a href="/wiki/Model_(economics)" class="mw-redirect" title="Model (economics)">model</a> of supply and demand predicts that for given supply and demand curves, price and quantity will stabilize at the price that makes quantity supplied equal to quantity demanded. Similarly, demand-and-supply theory predicts a new price-quantity combination from a shift in demand (as to the figure), or in supply. </p><p>For a given quantity of a consumer good, the point on the demand curve indicates the value, or <a href="/wiki/Marginal_utility" title="Marginal utility">marginal utility</a>, to consumers for that unit. It measures what the consumer would be prepared to pay for that unit.<sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> The corresponding point on the supply curve measures <a href="/wiki/Marginal_cost" title="Marginal cost">marginal cost</a>, the increase in total cost to the supplier for the corresponding unit of the good. The price in equilibrium is determined by supply and demand. In a <a href="/wiki/Perfect_competition" title="Perfect competition">perfectly competitive market</a>, supply and demand equate marginal cost and marginal utility at equilibrium.<sup id="cite_ref-Hicks_17-0" class="reference"><a href="#cite_note-Hicks-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> </p><p>On the supply side of the market, some factors of production are described as (relatively) <i>variable</i> in the <a href="/wiki/Short_run" class="mw-redirect" title="Short run">short run</a>, which affects the cost of changing output levels. Their usage rates can be changed easily, such as electrical power, raw-material inputs, and over-time and temp work. Other inputs are relatively <i>fixed</i>, such as plant and equipment and key personnel. In the <a href="/wiki/Long_run" class="mw-redirect" title="Long run">long run</a>, all inputs may be adjusted by <a href="/wiki/Management" title="Management">management</a>. These distinctions translate to differences in the <a href="/wiki/Price_elasticity_of_supply" title="Price elasticity of supply">elasticity</a> (responsiveness) of the supply curve in the short and long runs and corresponding differences in the price-quantity change from a shift on the supply or demand side of the market. </p><p><a href="/wiki/Marginalism" title="Marginalism">Marginalist theory</a>, such as above, describes the consumers as attempting to reach most-preferred positions, subject to <a href="/wiki/Income#Meaning_in_economics_and_use_in_economic_theory" title="Income">income</a> and <a href="/wiki/Wealth_(economics)" class="mw-redirect" title="Wealth (economics)">wealth</a> constraints while producers attempt to maximize profits subject to their own constraints, including demand for goods produced, technology, and the price of inputs. For the consumer, that point comes where marginal utility of a good, net of price, reaches zero, leaving no net gain from further consumption increases. Analogously, the producer compares <a href="/wiki/Marginal_revenue" title="Marginal revenue">marginal revenue</a> (identical to price for the perfect competitor) against the <a href="/wiki/Marginal_cost" title="Marginal cost">marginal cost</a> of a good, with <i>marginal profit</i> the difference. At the point where marginal profit reaches zero, further increases in production of the good stop. For movement to market equilibrium and for changes in equilibrium, price and quantity also change "at the margin": more-or-less of something, rather than necessarily all-or-nothing. </p><p>Other applications of demand and supply include the <a href="/wiki/Distribution_(economics)" title="Distribution (economics)">distribution of income</a> among the <a href="/wiki/Factors_of_production" title="Factors of production">factors of production</a>, including labor and capital, through factor markets. In a competitive <a href="/wiki/Labor_market" class="mw-redirect" title="Labor market">labor market</a> for example the quantity of labor employed and the price of labor (the wage rate) depends on the <a href="/wiki/Labour_economics#Neoclassical_microeconomic_model_–_Demand" title="Labour economics">demand for labor</a> (from employers for production) and supply of labor (from potential workers). <a href="/wiki/Labor_economics" class="mw-redirect" title="Labor economics">Labor economics</a> examines the interaction of workers and employers through such markets to explain patterns and changes of wages and other labor income, <a href="/wiki/Labor_mobility" title="Labor mobility">labor mobility</a>, and (un)employment, productivity through <a href="/wiki/Human_capital" title="Human capital">human capital</a>, and related public-policy issues.<sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> </p><p>Demand-and-supply analysis is used to explain the behavior of perfectly competitive markets, but as a standard of comparison it can be extended to any type of market. It can also be generalized to explain variables across the <a href="/wiki/Economy" title="Economy">economy</a>, for example, total output (estimated as <a href="/wiki/Real_GDP" class="mw-redirect" title="Real GDP">real GDP</a>) and the general <a href="/wiki/Price_level" title="Price level">price level</a>, as studied in <a href="/wiki/Macroeconomics" title="Macroeconomics">macroeconomics</a>.<sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> Tracing the <a href="/wiki/Qualitative_economics" title="Qualitative economics">qualitative</a> and quantitative effects of variables that change supply and demand, whether in the short or long run, is a standard exercise in <a href="/wiki/Applied_economics" title="Applied economics">applied economics</a>. Economic theory may also specify conditions such that supply and demand through the market is an efficient mechanism for allocating resources.<sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Market_structure">Market structure</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=13" title="Edit section: Market structure"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Market_structure" title="Market structure">Market structure</a></div> <style data-mw-deduplicate="TemplateStyles:r1251242444">.mw-parser-output .ambox{border:1px solid #a2a9b1;border-left:10px solid #36c;background-color:#fbfbfb;box-sizing:border-box}.mw-parser-output .ambox+link+.ambox,.mw-parser-output .ambox+link+style+.ambox,.mw-parser-output .ambox+link+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+style+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+link+.ambox{margin-top:-1px}html body.mediawiki .mw-parser-output .ambox.mbox-small-left{margin:4px 1em 4px 0;overflow:hidden;width:238px;border-collapse:collapse;font-size:88%;line-height:1.25em}.mw-parser-output .ambox-speedy{border-left:10px solid #b32424;background-color:#fee7e6}.mw-parser-output .ambox-delete{border-left:10px solid #b32424}.mw-parser-output .ambox-content{border-left:10px solid #f28500}.mw-parser-output .ambox-style{border-left:10px solid #fc3}.mw-parser-output .ambox-move{border-left:10px solid #9932cc}.mw-parser-output .ambox-protection{border-left:10px solid #a2a9b1}.mw-parser-output .ambox .mbox-text{border:none;padding:0.25em 0.5em;width:100%}.mw-parser-output .ambox .mbox-image{border:none;padding:2px 0 2px 0.5em;text-align:center}.mw-parser-output .ambox .mbox-imageright{border:none;padding:2px 0.5em 2px 0;text-align:center}.mw-parser-output .ambox .mbox-empty-cell{border:none;padding:0;width:1px}.mw-parser-output .ambox .mbox-image-div{width:52px}@media(min-width:720px){.mw-parser-output .ambox{margin:0 10%}}@media print{body.ns-0 .mw-parser-output .ambox{display:none!important}}</style><table class="box-Unreferenced_section plainlinks metadata ambox ambox-content ambox-Unreferenced" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span typeof="mw:File"><a href="/wiki/File:Question_book-new.svg" class="mw-file-description"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/50px-Question_book-new.svg.png" decoding="async" width="50" height="39" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/75px-Question_book-new.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/100px-Question_book-new.svg.png 2x" data-file-width="512" data-file-height="399" /></a></span></div></td><td class="mbox-text"><div class="mbox-text-span">This section <b>does not <a href="/wiki/Wikipedia:Citing_sources" title="Wikipedia:Citing sources">cite</a> any <a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability">sources</a></b>.<span class="hide-when-compact"> Please help <a href="/wiki/Special:EditPage/Microeconomics" title="Special:EditPage/Microeconomics">improve this section</a> by <a href="/wiki/Help:Referencing_for_beginners" title="Help:Referencing for beginners">adding citations to reliable sources</a>. Unsourced material may be challenged and <a href="/wiki/Wikipedia:Verifiability#Burden_of_evidence" title="Wikipedia:Verifiability">removed</a>.</span> <span class="date-container"><i>(<span class="date">October 2018</span>)</i></span><span class="hide-when-compact"><i> (<small><a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this message</a></small>)</i></span></div></td></tr></tbody></table> <p>Market structure refers to features of a market, including the number of firms in the market, the distribution of market shares between them, product uniformity across firms, how easy it is for firms to enter and exit the market, and forms of competition in the market.<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> A market structure can have several types of interacting <a href="/wiki/Market_system" title="Market system">market systems</a>. Different forms of markets are a feature of <a href="/wiki/Capitalism" title="Capitalism">capitalism</a> and <a href="/wiki/Market_socialism" title="Market socialism">market socialism</a>, with advocates of <a href="/wiki/State_socialism" title="State socialism">state socialism</a> often criticizing markets and aiming to substitute or replace markets with varying degrees of government-directed <a href="/wiki/Economic_planning" title="Economic planning">economic planning</a>. </p><p>Competition acts as a regulatory mechanism for market systems, with government providing regulations where the market cannot be expected to regulate itself. Regulations help to mitigate <a href="/wiki/Negative_Externalities" class="mw-redirect" title="Negative Externalities">negative externalities</a> of goods and services when the private equilibrium of the market does not match the social equilibrium. One example of this is with regards to <a href="/wiki/Building_codes" class="mw-redirect" title="Building codes">building codes</a>, which if absent in a purely competition regulated market system, might result in several horrific injuries or deaths to be required before companies would begin improving structural safety, as consumers may at first not be as concerned or aware of safety issues to begin putting pressure on companies to provide them, and companies would be motivated not to provide proper safety features due to how it would cut into their profits. </p><p>The concept of "market type" is different from the concept of "market structure". Nevertheless, there are a variety of <a href="/wiki/Market_(economics)#Types_of_markets" title="Market (economics)">types of markets</a>. </p><p>The different market structures produce cost curves<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> based on the type of structure present. The different curves are developed based on the costs of production, specifically the graph contains marginal cost, average total cost, average variable cost, average fixed cost, and marginal revenue, which is sometimes equal to the demand, average revenue, and price in a price-taking firm. </p> <div class="mw-heading mw-heading3"><h3 id="Perfect_competition">Perfect competition</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=14" title="Edit section: Perfect competition"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Perfect_competition" title="Perfect competition">Perfect competition</a></div> <p>Perfect competition is a situation in which numerous small firms producing identical products compete against each other in a given industry. Perfect competition leads to firms producing the socially optimal output level at the minimum possible cost per unit. Firms in perfect competition are "price takers" (they do not have enough <a href="/wiki/Market_power" title="Market power">market power</a> to profitably increase the price of their goods or services). A good example would be that of digital marketplaces, such as <a href="/wiki/EBay" title="EBay">eBay</a>, on which many different sellers sell similar products to many different buyers. Consumers in a perfect competitive market have perfect knowledge about the products that are being sold in this market. </p> <div class="mw-heading mw-heading3"><h3 id="Imperfect_competition">Imperfect competition</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=15" title="Edit section: Imperfect competition"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Imperfect_competition" title="Imperfect competition">Imperfect competition</a></div> <p>Imperfect competition is a type of market structure showing some but not all features of competitive markets. In perfect competition, market power is not achievable due to a high level of producers causing high levels of competition. Therefore, prices are brought down to a marginal cost level. In a monopoly, market power is achieved by one firm leading to prices being higher than the marginal cost level. <sup id="cite_ref-24" class="reference"><a href="#cite_note-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> Between these two types of markets are firms that are neither perfectly competitive or monopolistic. Firms such as Pepsi and Coke and Sony, Nintendo and Microsoft dominate the cola and video game industry respectively. These firms are in <b>imperfect competition</b> <sup id="cite_ref-25" class="reference"><a href="#cite_note-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Monopolistic_competition">Monopolistic competition</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=16" title="Edit section: Monopolistic competition"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Monopolistic_competition" title="Monopolistic competition">Monopolistic competition</a></div> <p>Monopolistic competition is a situation in which many firms with slightly different products compete. Production costs are above what may be achieved by perfectly competitive firms, but society benefits from the <a href="/wiki/Product_differentiation" title="Product differentiation">product differentiation</a>. Examples of industries with market structures similar to monopolistic competition include restaurants, cereal, clothing, shoes, and service industries in large cities. </p> <div class="mw-heading mw-heading3"><h3 id="Monopoly">Monopoly</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=17" title="Edit section: Monopoly"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Monopoly" title="Monopoly">Monopoly</a></div> <p>A monopoly is a market structure in which a market or industry is dominated by a single supplier of a particular good or service. Because monopolies have no competition, they tend to sell goods and services at a higher price and produce below the socially optimal output level. However, not all monopolies are a bad thing, especially in industries where multiple firms would result in more costs than benefits (i.e. <a href="/wiki/Natural_monopoly" title="Natural monopoly">natural monopolies</a>).<sup id="cite_ref-26" class="reference"><a href="#cite_note-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-27" class="reference"><a href="#cite_note-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> </p> <ul><li>Natural monopoly: A monopoly in an industry where one producer can produce output at a lower cost than many small producers.</li></ul> <div class="mw-heading mw-heading3"><h3 id="Oligopoly">Oligopoly</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=18" title="Edit section: Oligopoly"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Oligopoly" title="Oligopoly">Oligopoly</a></div> <p>An oligopoly is a <a href="/wiki/Market_form" class="mw-redirect" title="Market form">market structure</a> in which a <a href="/wiki/Market_(economics)" title="Market (economics)">market</a> or <a href="/wiki/Industry_(economics)" title="Industry (economics)">industry</a> is dominated by a small number of firms (oligopolists). Oligopolies can create the incentive for firms to engage in <a href="/wiki/Collusion" title="Collusion">collusion</a> and form <a href="/wiki/Cartel" title="Cartel">cartels</a> that reduce competition leading to higher prices for consumers and less overall market output.<sup id="cite_ref-28" class="reference"><a href="#cite_note-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> Alternatively, oligopolies can be fiercely competitive and engage in flamboyant advertising campaigns.<sup id="cite_ref-29" class="reference"><a href="#cite_note-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> </p> <ul><li>Duopoly: A special case of an oligopoly, with only two firms. <a href="/wiki/Game_theory" title="Game theory">Game theory</a> can elucidate behavior in duopolies and oligopolies.<sup id="cite_ref-30" class="reference"><a href="#cite_note-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup></li></ul> <div class="mw-heading mw-heading3"><h3 id="Monopsony">Monopsony</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=19" title="Edit section: Monopsony"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Monopsony" title="Monopsony">Monopsony</a></div> <p>A monopsony is a market where there is only one buyer and many sellers. </p> <div class="mw-heading mw-heading3"><h3 id="Bilateral_monopoly">Bilateral monopoly</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=20" title="Edit section: Bilateral monopoly"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Bilateral_monopoly" title="Bilateral monopoly">Bilateral monopoly</a></div> <p>A bilateral monopoly is a market consisting of both a monopoly (a single seller) and a monopsony (a single buyer). </p> <div class="mw-heading mw-heading3"><h3 id="Oligopsony">Oligopsony</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=21" title="Edit section: Oligopsony"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Oligopsony" title="Oligopsony">Oligopsony</a></div> <p>An oligopsony is a market where there are a few buyers and many sellers. </p> <div class="mw-heading mw-heading2"><h2 id="Game_theory">Game theory</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=22" title="Edit section: Game theory"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Game_theory" title="Game theory">Game theory</a></div> <p>Game theory is a major method used in <a href="/wiki/Mathematical_economics" title="Mathematical economics">mathematical economics</a> and business for <a href="/wiki/Economic_model" title="Economic model">modeling</a> competing behaviors of interacting <a href="/wiki/Agent_(economics)" title="Agent (economics)">agents</a>. The term "game" here implies the study of any strategic interaction between people. Applications include a wide array of economic phenomena and approaches, such as <a href="/wiki/Auction" title="Auction">auctions</a>, <a href="/wiki/Bargaining" title="Bargaining">bargaining</a>, <a href="/wiki/Mergers_and_Acquisitions" class="mw-redirect" title="Mergers and Acquisitions">mergers & acquisitions</a> pricing, <a href="/wiki/Fair_division" title="Fair division">fair division</a>, <a href="/wiki/Duopoly" title="Duopoly">duopolies</a>, oligopolies, <a href="/wiki/Social_network" title="Social network">social network</a> formation, <a href="/wiki/Agent-based_computational_economics" title="Agent-based computational economics">agent-based computational economics</a>, <a href="/wiki/General_equilibrium" class="mw-redirect" title="General equilibrium">general equilibrium</a>, <a href="/wiki/Mechanism_design" title="Mechanism design">mechanism design</a>, and <a href="/wiki/Voting_system" class="mw-redirect" title="Voting system">voting systems</a>, and across such broad areas as <a href="/wiki/Experimental_economics" title="Experimental economics">experimental economics</a>, <a href="/wiki/Behavioral_game_theory" title="Behavioral game theory">behavioral economics</a>, information economics, <a href="/wiki/Industrial_organization" title="Industrial organization">industrial organization</a>, and <a href="/wiki/Political_economy" title="Political economy">political economy</a>. </p> <div class="mw-heading mw-heading2"><h2 id="Information_economics">Information economics</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=23" title="Edit section: Information economics"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Information_economics" title="Information economics">Information economics</a></div> <p>Information economics is a branch of microeconomic theory that studies how information and information systems affect an <a href="/wiki/Economy" title="Economy">economy</a> and economic decisions. Information has special characteristics. It is easy to create but hard to trust. It is easy to spread but hard to control. It influences many decisions. These special characteristics (as compared with other types of goods) complicate many standard economic theories.<sup id="cite_ref-31" class="reference"><a href="#cite_note-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup> The economics of information has recently become of great interest to many - possibly due to the rise of information-based companies inside the technology industry.<sup id="cite_ref-Varian_H.R._1987_9-2" class="reference"><a href="#cite_note-Varian_H.R._1987-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> From a game theory approach, the usual constraints that agents have complete information can be loosened to further examine the consequences of having incomplete information. This gives rise to many results which are applicable to real life situations. For example, if one does loosen this assumption, then it is possible to scrutinize the actions of agents in situations of uncertainty. It is also possible to more fully understand the impacts – both positive and negative – of agents seeking out or acquiring information.<sup id="cite_ref-Varian_H.R._1987_9-3" class="reference"><a href="#cite_note-Varian_H.R._1987-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Applied">Applied</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=24" title="Edit section: Applied"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:United_States_Capitol_Building.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/e/e8/United_States_Capitol_Building.jpg/220px-United_States_Capitol_Building.jpg" decoding="async" width="220" height="146" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/e8/United_States_Capitol_Building.jpg/330px-United_States_Capitol_Building.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/e8/United_States_Capitol_Building.jpg/440px-United_States_Capitol_Building.jpg 2x" data-file-width="3008" data-file-height="2000" /></a><figcaption><a href="/wiki/United_States_Capitol_Building" class="mw-redirect" title="United States Capitol Building">United States Capitol Building</a>: meeting place of the <a href="/wiki/United_States_Congress" title="United States Congress">United States Congress</a>, where many tax laws are passed, which directly impact <a href="/wiki/Economic_welfare" class="mw-redirect" title="Economic welfare">economic welfare</a>. This is studied in the subject of <a href="/wiki/Public_economics" title="Public economics">public economics</a>.</figcaption></figure> <p><a href="/wiki/Applied_economics" title="Applied economics">Applied</a> microeconomics includes a range of specialized areas of study, many of which draw on methods from other fields. </p> <ul><li><a href="/wiki/Economic_history" title="Economic history">Economic history</a> examines the evolution of the economy and economic institutions, using methods and techniques from the fields of economics, history, geography, sociology, psychology, and political science.</li> <li><a href="/wiki/Education_economics" title="Education economics">Education economics</a> examines the organization of education provision and its implication for efficiency and equity, including the effects of education on productivity.</li> <li><a href="/wiki/Financial_economics" title="Financial economics">Financial economics</a> examines topics such as the structure of optimal portfolios, the rate of return to capital, econometric analysis of security returns, and corporate financial behavior.</li> <li><a href="/wiki/Health_economics" title="Health economics">Health economics</a> examines the organization of health care systems, including the role of the health care workforce and health insurance programs.</li> <li><a href="/wiki/Industrial_organization" title="Industrial organization">Industrial organization</a> examines topics such as the entry and exit of firms, innovation, and the role of trademarks.</li> <li><a href="/wiki/Law_and_economics" title="Law and economics">Law and economics</a> applies microeconomic principles to the selection and enforcement of competing legal regimes and their relative efficiencies.</li> <li><a href="/wiki/Political_economy" title="Political economy">Political economy</a> examines the role of political institutions in determining policy outcomes.</li> <li><a href="/wiki/Public_economics" title="Public economics">Public economics</a> examines the design of government <a href="/wiki/Tax" title="Tax">tax</a> and expenditure policies and economic effects of these policies (e.g., social insurance programs).</li> <li><a href="/wiki/Urban_economics" title="Urban economics">Urban economics</a>, which examines the challenges faced by cities, such as sprawl, air and water pollution, traffic congestion, and poverty, draws on the fields of urban geography and sociology.</li> <li><a href="/wiki/Labor_economics" class="mw-redirect" title="Labor economics">Labor economics</a> examines primarily labor markets, but comprises a large range of public policy issues such as immigration, minimum wages, or inequality.</li></ul> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=25" title="Edit section: See also"><span>edit</span></a><span 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a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFMarchantSnell,_William_M." class="citation web cs1">Marchant, Mary A.; Snell, William M. <a rel="nofollow" class="external text" href="http://www.ca.uky.edu/agc/pubs/aec/aec75/aec75.pdf">"Macroeconomics and International Policy Terms"</a> <span class="cs1-format">(PDF)</span>. <a href="/wiki/University_of_Kentucky" title="University of Kentucky">University of Kentucky</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20070318072324/http://www.ca.uky.edu/agc/pubs/aec/aec75/aec75.pdf">Archived</a> <span class="cs1-format">(PDF)</span> from the original on 2007-03-18<span class="reference-accessdate">. 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Archived from <a rel="nofollow" class="external text" href="http://nmlites.org/standards/socialstudies/glossary.html">the original</a> on 2007-08-08<span class="reference-accessdate">. Retrieved <span class="nowrap">2008-02-22</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Social+Studies+Standards+Glossary&rft.pub=New+Mexico+Public+Education+Department&rft_id=http%3A%2F%2Fnmlites.org%2Fstandards%2Fsocialstudies%2Fglossary.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMicroeconomics" class="Z3988"></span></span> </li> <li id="cite_note-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-4">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSalanié2000" class="citation book cs1">Salanié, Bernard (2000). <i>Microeconomics of Market Failures</i> (1st ed.). Cambridge: <a href="/wiki/MIT_Press" title="MIT Press">MIT Press</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9780262528566" title="Special:BookSources/9780262528566"><bdi>9780262528566</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Microeconomics+of+Market+Failures&rft.place=Cambridge&rft.edition=1st&rft.pub=MIT+Press&rft.date=2000&rft.isbn=9780262528566&rft.aulast=Salani%C3%A9&rft.aufirst=Bernard&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMicroeconomics" class="Z3988"></span></span> </li> <li id="cite_note-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-5">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.econ100.com/eu5e/open/glossary.html">"Glossary"</a>. ECON100. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20060411174547/http://www.econ100.com/eu5e/open/glossary.html">Archived</a> from the original on 2006-04-11<span class="reference-accessdate">. Retrieved <span class="nowrap">2008-02-22</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Glossary&rft.pub=ECON100&rft_id=http%3A%2F%2Fwww.econ100.com%2Feu5e%2Fopen%2Fglossary.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMicroeconomics" class="Z3988"></span></span> </li> <li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKriesler2016" class="citation cs2">Kriesler, Peter (2016), Halevi, Joseph; Harcourt, G. C.; Kriesler, Peter; Nevile, J. W. (eds.), <a rel="nofollow" class="external text" href="https://doi.org/10.1057/978-1-137-47529-9_4">"Partial Equilibrium Analysis"</a>, <i>Post-Keynesian Essays from Down Under Volume IV: Essays on Theory: Theory and Policy in an Historical Context</i>, London: Palgrave Macmillan UK, pp. 33–37, <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1057%2F978-1-137-47529-9_4">10.1057/978-1-137-47529-9_4</a>, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-137-47529-9" title="Special:BookSources/978-1-137-47529-9"><bdi>978-1-137-47529-9</bdi></a><span class="reference-accessdate">, retrieved <span class="nowrap">2023-07-30</span></span></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Post-Keynesian+Essays+from+Down+Under+Volume+IV%3A+Essays+on+Theory%3A+Theory+and+Policy+in+an+Historical+Context&rft.atitle=Partial+Equilibrium+Analysis&rft.pages=33-37&rft.date=2016&rft_id=info%3Adoi%2F10.1057%2F978-1-137-47529-9_4&rft.isbn=978-1-137-47529-9&rft.aulast=Kriesler&rft.aufirst=Peter&rft_id=https%3A%2F%2Fdoi.org%2F10.1057%2F978-1-137-47529-9_4&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMicroeconomics" class="Z3988"></span></span> </li> <li id="cite_note-:1-7"><span class="mw-cite-backlink">^ <a href="#cite_ref-:1_7-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:1_7-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-:1_7-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPerloff2018" class="citation book cs1">Perloff, Jeffrey M. 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Archived from <a rel="nofollow" class="external text" href="https://www.ftc.gov/bc/edu/pubs/consumer/general/zgen01.shtm">the original</a> on 4 December 2013.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=ftstatus%3Dlive&rft.atitle=Competition+Counts&rft.date=2013-06-11&rft_id=http%3A%2F%2Fwww.ftc.gov%2Fbc%2Fedu%2Fpubs%2Fconsumer%2Fgeneral%2Fzgen01.shtm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMicroeconomics" class="Z3988"></span></span> </li> <li id="cite_note-29"><span class="mw-cite-backlink"><b><a href="#cite_ref-29">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFErickson2009" class="citation journal cs1">Erickson, Gary M. (2009). <a rel="nofollow" class="external text" href="https://econpapers.repec.org/article/eeeejores/v_3a197_3ay_3a2009_3ai_3a1_3ap_3a374-388.htm">"Gary M. Erickson (2009). "An Oligopoly Model of Dynamic Advertising Competition". <i>European Journal of Operational Research</i> 197 (2009): 374–388"</a>. <i>European Journal of Operational Research</i>. <b>197</b> (1): 374–388. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1016%2Fj.ejor.2008.06.023">10.1016/j.ejor.2008.06.023</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=European+Journal+of+Operational+Research&rft.atitle=Gary+M.+Erickson+%282009%29.+%22An+Oligopoly+Model+of+Dynamic+Advertising+Competition%22.+European+Journal+of+Operational+Research+197+%282009%29%3A+374%E2%80%93388.&rft.volume=197&rft.issue=1&rft.pages=374-388&rft.date=2009&rft_id=info%3Adoi%2F10.1016%2Fj.ejor.2008.06.023&rft.aulast=Erickson&rft.aufirst=Gary+M.&rft_id=https%3A%2F%2Feconpapers.repec.org%2Farticle%2Feeeejores%2Fv_3a197_3ay_3a2009_3ai_3a1_3ap_3a374-388.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMicroeconomics" class="Z3988"></span></span> </li> <li id="cite_note-30"><span class="mw-cite-backlink"><b><a href="#cite_ref-30">^</a></b></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.apeconreview.com/oligopoly.html">"Oligopoly/Duopoly and Game Theory"</a>. <i>AP Microeconomics Review</i>. 2017. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20160625002834/http://www.apeconreview.com/oligopoly.html">Archived</a> from the original on 2016-06-25<span class="reference-accessdate">. Retrieved <span class="nowrap">2017-06-11</span></span>. <q>Game theory is the main way economists [sic] understands the behavior of firms within this market structure.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=AP+Microeconomics+Review&rft.atitle=Oligopoly%2FDuopoly+and+Game+Theory&rft.date=2017&rft_id=http%3A%2F%2Fwww.apeconreview.com%2Foligopoly.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMicroeconomics" class="Z3988"></span></span> </li> <li id="cite_note-31"><span class="mw-cite-backlink"><b><a href="#cite_ref-31">^</a></b></span> <span class="reference-text">• Beth Allen, 1990. "Information as an Economic Commodity," <i>American Economic Review</i>, 80(2), pp. <a rel="nofollow" class="external text" href="https://www.jstor.org/pss/2006582">268</a>–273.<br />  • <a href="/wiki/Kenneth_J._Arrow" class="mw-redirect" title="Kenneth J. Arrow">Kenneth J. Arrow</a>, 1999. "Information and the Organization of Industry," ch. 1, in Graciela Chichilnisky <i>Markets, Information, and Uncertainty.</i> Cambridge University Press, pp. <a rel="nofollow" class="external text" href="https://books.google.com/books?id=m6PLCb18RrsC&dq=false&pg=PA20">20–21</a>.<br />   • _____, 1996. "The Economics of Information: An Exposition," <i>Empirica</i>, 23(2), pp. <a rel="nofollow" class="external text" href="https://doi.org/10.1007%2FBF00925335">119</a>–128.<br />   • _____, 1984. <i>Collected Papers of Kenneth J. Arrow</i>, v. 4, <i>The Economics of Information</i>. <a rel="nofollow" class="external text" href="http://www.hup.harvard.edu/catalog.php?isbn=9780674137639">Description</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20120330214121/http://www.hup.harvard.edu/catalog.php?isbn=9780674137639">Archived</a> 2012-03-30 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> and chapter-preview <a rel="nofollow" class="external text" href="https://books.google.com/books?id=ZYIiFsrT0dcC&pg=PP9=ONEPAGE">links.</a><br />   • <a href="/wiki/Jean-Jacques_Laffont" title="Jean-Jacques Laffont">Jean-Jacques Laffont</a>, 1989. <i>The Economics of Uncertainty and Information</i>, MIT Press. <a rel="nofollow" class="external text" href="http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=7640">Description</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20120125171634/http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=7640">Archived</a> 2012-01-25 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> and chapter-preview <a rel="nofollow" class="external text" href="https://books.google.com/books/p/harvard?id=7r484x3HVu4C&printsec=find&pg=PR5=#v=onepage&q&f=false">links</a>.</span> </li> </ol></div> <div class="mw-heading mw-heading2"><h2 id="Further_reading">Further reading</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=27" title="Edit section: Further reading"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239549316">.mw-parser-output .refbegin{margin-bottom:0.5em}.mw-parser-output .refbegin-hanging-indents>ul{margin-left:0}.mw-parser-output .refbegin-hanging-indents>ul>li{margin-left:0;padding-left:3.2em;text-indent:-3.2em}.mw-parser-output .refbegin-hanging-indents ul,.mw-parser-output .refbegin-hanging-indents ul li{list-style:none}@media(max-width:720px){.mw-parser-output .refbegin-hanging-indents>ul>li{padding-left:1.6em;text-indent:-1.6em}}.mw-parser-output .refbegin-columns{margin-top:0.3em}.mw-parser-output .refbegin-columns ul{margin-top:0}.mw-parser-output .refbegin-columns li{page-break-inside:avoid;break-inside:avoid-column}@media screen{.mw-parser-output .refbegin{font-size:90%}}</style><div class="refbegin refbegin-columns references-column-width" style="column-width: 60em">* <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBadeMichael_Parkin2001" class="citation book cs1">Bade, Robin; Michael Parkin (2001). <i>Foundations of Microeconomics</i> (1st paperback ed.). Addison Wesley.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Foundations+of+Microeconomics&rft.edition=1st+paperback&rft.pub=Addison+Wesley&rft.date=2001&rft.aulast=Bade&rft.aufirst=Robin&rft.au=Michael+Parkin&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMicroeconomics" class="Z3988"></span> <ul><li>Bouman, John: <a rel="nofollow" class="external text" href="http://www.inflateyourmind.com">Principles of Microeconomics – free fully comprehensive Principles of Microeconomics and Macroeconomics texts</a>. Columbia, Maryland, 2011</li> <li>Colander, David. <i>Microeconomics.</i> McGraw-Hill Paperback, 7th ed.: 2008.</li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDunne,_TimothyJ._Bradford_JensenMark_J._Roberts2009" class="citation book cs1">Dunne, Timothy; J. Bradford Jensen; Mark J. Roberts (2009). <i>Producer Dynamics: New Evidence from Micro Data</i>. University of Chicago Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-226-17256-9" title="Special:BookSources/978-0-226-17256-9"><bdi>978-0-226-17256-9</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Producer+Dynamics%3A+New+Evidence+from+Micro+Data&rft.pub=University+of+Chicago+Press&rft.date=2009&rft.isbn=978-0-226-17256-9&rft.au=Dunne%2C+Timothy&rft.au=J.+Bradford+Jensen&rft.au=Mark+J.+Roberts&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMicroeconomics" class="Z3988"></span></li> <li>Eaton, B. Curtis; Eaton, Diane F.; and Douglas W. Allen. <i>Microeconomics</i>. Prentice Hall, 5th ed.: 2002.</li> <li><a href="/wiki/Robert_H._Frank" title="Robert H. Frank">Frank, Robert H.</a>; <i>Microeconomics and Behavior</i>. McGraw-Hill/Irwin, 6th ed.: 2006.</li> <li>Friedman, Milton. <i>Price Theory.</i> Aldine Transaction: 1976</li> <li>Hagendorf, Klaus: <a rel="nofollow" class="external text" href="http://ssrn.com/paper=1489383">Labour Values and the Theory of the Firm. Part I: The Competitive Firm. Paris: EURODOS; 2009.</a></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHarberger2008" class="citation encyclopaedia cs1"><a href="/wiki/Arnold_Harberger" title="Arnold Harberger">Harberger, Arnold C.</a> (2008). <a rel="nofollow" class="external text" href="http://www.econlib.org/library/Enc/Microeconomics.html">"Microeconomics"</a>. In <a href="/wiki/David_R._Henderson" title="David R. Henderson">David R. Henderson</a> (ed.). <i><a href="/wiki/Concise_Encyclopedia_of_Economics" class="mw-redirect" title="Concise Encyclopedia of Economics">Concise Encyclopedia of Economics</a></i> (2nd ed.). Indianapolis: <a href="/wiki/Library_of_Economics_and_Liberty" class="mw-redirect" title="Library of Economics and Liberty">Library of Economics and Liberty</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-86597-665-8" title="Special:BookSources/978-0-86597-665-8"><bdi>978-0-86597-665-8</bdi></a>. <a href="/wiki/OCLC_(identifier)" class="mw-redirect" title="OCLC (identifier)">OCLC</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/oclc/237794267">237794267</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Microeconomics&rft.btitle=Concise+Encyclopedia+of+Economics&rft.place=Indianapolis&rft.edition=2nd&rft.pub=Library+of+Economics+and+Liberty&rft.date=2008&rft_id=info%3Aoclcnum%2F237794267&rft.isbn=978-0-86597-665-8&rft.aulast=Harberger&rft.aufirst=Arnold+C.&rft_id=http%3A%2F%2Fwww.econlib.org%2Flibrary%2FEnc%2FMicroeconomics.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMicroeconomics" class="Z3988"></span></li> <li>Hicks, John R. <i><a href="/wiki/Value_and_Capital" title="Value and Capital">Value and Capital</a></i>. Clarendon Press. [1939] 1946, 2nd ed.</li> <li><a href="/wiki/Jack_Hirshleifer" title="Jack Hirshleifer">Hirshleifer, Jack</a>., Glazer, Amihai, and <a href="/wiki/David_Hirshleifer" title="David Hirshleifer">Hirshleifer, David</a>, <i>Price theory and applications: Decisions, markets, and information.</i> Cambridge University Press, 7th ed.: 2005.</li> <li>Jaffe, Sonia; Minton, Robert; <a href="/wiki/Casey_B._Mulligan" title="Casey B. Mulligan">Mulligan, Casey B.</a>; and Murphy, Kevin M.: <a rel="nofollow" class="external text" href="https://home.uchicago.edu/cbm4/cpt/index.html">Chicago Price Theory</a>. Princeton University Press, 2019</li> <li>Jehle, Geoffrey A.; and <a href="/wiki/Philip_J._Reny" title="Philip J. Reny">Philip J. Reny</a>. <i>Advanced Microeconomic Theory.</i> Addison Wesley Paperback, 2nd ed.: 2000.</li> <li>Katz, Michael L.; and Harvey S. Rosen. <i>Microeconomics</i>. McGraw-Hill/Irwin, 3rd ed.: 1997.</li> <li>Kreps, David M. <i>A Course in Microeconomic Theory</i>. Princeton University Press: 1990</li> <li>Landsburg, Steven. <i>Price Theory and Applications</i>. South-Western College Pub, 5th ed.: 2001.</li> <li>Mankiw, N. Gregory. <i>Principles of Microeconomics</i>. South-Western Pub, 2nd ed.: 2000.</li> <li><a href="/wiki/Andreu_Mas-Colell" title="Andreu Mas-Colell">Mas-Colell, Andreu</a>; Whinston, Michael D.; and Jerry R. Green. <i>Microeconomic Theory</i>. Oxford University Press, US: 1995.</li> <li>McGuigan, James R.; Moyer, R. Charles; and Frederick H. Harris. <i>Managerial Economics: Applications, Strategy and Tactics</i>. South-Western Educational Publishing, 9th ed.: 2001.</li> <li>Nicholson, Walter. <i>Microeconomic Theory: Basic Principles and Extensions.</i> South-Western College Pub, 8th ed.: 2001.</li> <li><a href="/wiki/Jeffrey_M._Perloff" title="Jeffrey M. Perloff">Perloff, Jeffrey M.</a> <i>Microeconomics</i>. Pearson – Addison Wesley, 4th ed.: 2007.</li> <li>Perloff, Jeffrey M. <i>Microeconomics: Theory and Applications with Calculus</i>. Pearson – Addison Wesley, 1st ed.: 2007</li> <li>Pindyck, Robert S.; and Daniel L. Rubinfeld.<i> Microeconomics.</i> Prentice Hall, 7th ed.: 2008.</li> <li>Ruffin, Roy J.; and Paul R. Gregory. <i>Principles of Microeconomics</i>. Addison Wesley, 7th ed.: 2000.</li> <li><a href="/wiki/Hal_Varian" title="Hal Varian">Varian, Hal R.</a> (1987). "microeconomics," <i><a href="/wiki/The_New_Palgrave:_A_Dictionary_of_Economics" class="mw-redirect" title="The New Palgrave: A Dictionary of Economics">The New Palgrave: A Dictionary of Economics</a></i>, v. 3, pp. 461–463.</li> <li>Varian, Hal R. <i>Intermediate Microeconomics: A Modern Approach</i>. W. W. Norton & Company, 8th ed.: 2009.</li> <li>Varian, Hal R. <i>Microeconomic Analysis</i>. W.W. Norton & Company, 3rd ed.: 1992.</li> <li>The economic times (2023). What is Microeconomics. <a rel="nofollow" class="external free" href="https://economictimes.indiatimes.com/definition/microeconomics">https://economictimes.indiatimes.com/definition/microeconomics</a>.</li></ul> </div> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Microeconomics&action=edit&section=28" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1235681985">.mw-parser-output .side-box{margin:4px 0;box-sizing:border-box;border:1px solid #aaa;font-size:88%;line-height:1.25em;background-color:var(--background-color-interactive-subtle,#f8f9fa);display:flow-root}.mw-parser-output .side-box-abovebelow,.mw-parser-output .side-box-text{padding:0.25em 0.9em}.mw-parser-output .side-box-image{padding:2px 0 2px 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href="https://en.wikibooks.org/wiki/Microeconomics" class="extiw" title="wikibooks:Microeconomics">Microeconomics</a></b></i></div></div> </div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1235681985"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1237033735"><div class="side-box side-box-right plainlinks sistersitebox"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"> <div class="side-box-flex"> <div class="side-box-image"><span class="noviewer" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/0/0b/Wikiversity_logo_2017.svg/40px-Wikiversity_logo_2017.svg.png" decoding="async" width="40" height="33" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/0b/Wikiversity_logo_2017.svg/60px-Wikiversity_logo_2017.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/0b/Wikiversity_logo_2017.svg/80px-Wikiversity_logo_2017.svg.png 2x" data-file-width="626" data-file-height="512" /></span></span></div> <div class="side-box-text plainlist">Wikiversity has learning resources about <i><b><a href="https://en.wikiversity.org/wiki/Microeconomics" class="extiw" title="v:Microeconomics">Microeconomics</a></b></i></div></div> </div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1235681985"><div class="side-box metadata side-box-right"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"> <div class="side-box-abovebelow"> <a href="/wiki/Wikipedia:The_Wikipedia_Library" title="Wikipedia:The Wikipedia Library">Library resources</a> about <br /> <b>Microeconomics</b> <hr /></div> <div class="side-box-flex"> <div class="side-box-text plainlist"><ul><li><a class="external text" href="https://ftl.toolforge.org/cgi-bin/ftl?st=wp&su=Microeconomics">Resources in your library</a></li> </ul></div></div> </div> <ul><li><a rel="nofollow" class="external text" href="http://xlab.berkeley.edu">X-Lab: A Collaborative Micro-Economics and Social Sciences Research Laboratory</a></li> <li><a rel="nofollow" class="external text" href="http://www.economicsnetwork.ac.uk/teaching/simulations/principlesofmicroeconomics.htm">Simulations in Microeconomics</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20101031213523/http://economicsnetwork.ac.uk/teaching/simulations/principlesofmicroeconomics.htm">Archived</a> 2010-10-31 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a></li> <li><a rel="nofollow" class="external text" href="http://media.lanecc.edu/users/martinezp/201/MicroHistory.html">A brief history of microeconomics</a></li></ul> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1236075235">.mw-parser-output .navbox{box-sizing:border-box;border:1px solid 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.navbox{display:none!important}}</style></div><div role="navigation" class="navbox" aria-labelledby="Microeconomics" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Microeconomics" title="Template:Microeconomics"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Microeconomics" title="Template talk:Microeconomics"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Microeconomics" title="Special:EditPage/Template:Microeconomics"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Microeconomics" style="font-size:114%;margin:0 4em"><a class="mw-selflink selflink">Microeconomics</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Major topics</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Aggregation_problem" title="Aggregation problem">Aggregation</a></li> <li><a href="/wiki/Budget_set" title="Budget set">Budget set</a></li> <li><a href="/wiki/Consumer_choice" title="Consumer choice">Consumer choice</a></li> <li><a href="/wiki/Convexity_in_economics" title="Convexity in economics">Convexity</a> and <a href="/wiki/Non-convexity_(economics)" title="Non-convexity (economics)">non-convexity</a></li> <li><a href="/wiki/Economic_cost" title="Economic cost">Cost</a> <ul><li><a href="/wiki/Average_cost" title="Average cost">Average</a></li> <li><a href="/wiki/Marginal_cost" title="Marginal cost">Marginal</a></li> <li><a href="/wiki/Opportunity_cost" title="Opportunity cost">Opportunity</a> <ul><li><a href="/wiki/Implicit_cost" title="Implicit cost">Implicit</a></li></ul></li> <li><a href="/wiki/Social_cost" title="Social cost">Social</a></li> <li><a href="/wiki/Sunk_cost" title="Sunk cost">Sunk</a></li> <li><a href="/wiki/Transaction_cost" title="Transaction cost">Transaction</a></li></ul></li> <li><a href="/wiki/Cost%E2%80%93benefit_analysis" title="Cost–benefit analysis">Cost–benefit analysis</a></li> <li><a href="/wiki/Deadweight_loss" title="Deadweight loss">Deadweight loss</a></li> <li><a href="/wiki/Distribution_(economics)" title="Distribution (economics)">Distribution</a></li> <li><a href="/wiki/Economies_of_scale" title="Economies of scale">Economies of scale</a></li> <li><a href="/wiki/Economies_of_scope" title="Economies of scope">Economies of scope</a></li> <li><a href="/wiki/Elasticity_(economics)" title="Elasticity (economics)">Elasticity</a> <ul><li><a href="/wiki/Cross_elasticity_of_demand" title="Cross elasticity of demand">Cross elasticity of demand</a></li> <li><a href="/wiki/Income_elasticity_of_demand" title="Income elasticity of demand">Income elasticity of demand</a></li> <li><a href="/wiki/Price_elasticity_of_demand" title="Price elasticity of demand">Price elasticity of demand</a></li> <li><a href="/wiki/Price_elasticity_of_supply" title="Price elasticity of supply">Price elasticity of supply</a></li></ul></li> <li><a href="/wiki/Economic_equilibrium" title="Economic equilibrium">Equilibrium</a> <ul><li><a href="/wiki/General_equilibrium_theory" title="General equilibrium theory">General</a></li></ul></li> <li><a href="/wiki/Trade" title="Trade">Exchange</a></li> <li><a href="/wiki/Externality" title="Externality">Externality</a></li> <li><a href="/wiki/Theory_of_the_firm" title="Theory of the firm">Firms</a></li> <li><a href="/wiki/Goods_and_services" title="Goods and services">Goods and services</a> <ul><li><a href="/wiki/Goods" title="Goods">Goods</a></li> <li><a href="/wiki/Service_(economics)" title="Service (economics)">Service</a></li></ul></li> <li><a href="/wiki/Family_economics" title="Family economics">Household</a></li> <li><a href="/wiki/Income%E2%80%93consumption_curve" title="Income–consumption curve">Income–consumption curve</a></li> <li><a href="/wiki/Information_economics" title="Information economics">Information</a></li> <li><a href="/wiki/Indifference_curve" title="Indifference curve">Indifference curve</a></li> <li><a href="/wiki/Intertemporal_choice" title="Intertemporal choice">Intertemporal choice</a></li> <li><a href="/wiki/Market_(economics)" title="Market (economics)">Market</a></li> <li><a href="/wiki/Market_failure" title="Market failure">Market failure</a></li> <li><a href="/wiki/Market_structure" title="Market structure">Market structure</a> <ul><li><a href="/wiki/Competition_(economics)" title="Competition (economics)">Competition</a> <ul><li><a href="/wiki/Monopolistic_competition" title="Monopolistic competition">Monopolistic</a></li> <li><a href="/wiki/Perfect_competition" title="Perfect competition">Perfect</a></li></ul></li> <li><a href="/wiki/Duopoly" title="Duopoly">Duopoly</a></li> <li><a href="/wiki/Monopoly" title="Monopoly">Monopoly</a> <ul><li><a href="/wiki/Bilateral_monopoly" title="Bilateral monopoly">Bilateral</a></li> <li><a href="/wiki/Complementary_monopoly" title="Complementary monopoly">Complementary</a></li></ul></li> <li><a href="/wiki/Monopsony" title="Monopsony">Monopsony</a></li> <li><a href="/wiki/Oligopoly" title="Oligopoly">Oligopoly</a></li> <li><a href="/wiki/Oligopsony" title="Oligopsony">Oligopsony</a></li></ul></li> <li><a href="/wiki/Pareto_efficiency" title="Pareto efficiency">Pareto efficiency</a></li> <li><a href="/wiki/Preference_(economics)" title="Preference (economics)">Preferences</a></li> <li><a href="/wiki/Price" title="Price">Price</a> <ul><li><a href="/wiki/Price_controls" title="Price controls">Price controls</a></li> <li><a href="/wiki/Price_ceiling" title="Price ceiling">Price ceiling</a></li> <li><a href="/wiki/Price_floor" title="Price floor">Price floor</a></li> <li><a href="/wiki/Price_discrimination" title="Price discrimination">Price discrimination</a></li> <li><a href="/wiki/Price_signal" title="Price signal">Price signal</a></li> <li><a href="/wiki/Price_system" title="Price system">Price system</a>/<a href="/wiki/Free_price_system" title="Free price system">Free</a></li> <li><a href="/wiki/Pricing" title="Pricing">Pricing</a></li></ul></li> <li><a href="/wiki/Production_set" title="Production set">Production</a></li> <li><a href="/wiki/Profit_(economics)" title="Profit (economics)">Profit</a></li> <li><a href="/wiki/Public_good_(economics)" title="Public good (economics)">Public goods</a></li> <li><a href="/wiki/Rationing" title="Rationing">Rationing</a></li> <li><a href="/wiki/Economic_rent" title="Economic rent">Rent</a></li> <li><a href="/wiki/Returns_to_scale" title="Returns to scale">Returns to scale</a></li> <li><a href="/wiki/Risk_aversion" title="Risk aversion">Risk aversion</a></li> <li><a href="/wiki/Scarcity" title="Scarcity">Scarcity</a></li> <li><a href="/wiki/Shortage" title="Shortage">Shortage</a>/<a href="/wiki/Excess_supply" title="Excess supply">Excess supply</a></li> <li><a href="/wiki/Substitution_effect" title="Substitution effect">Substitution effect</a></li> <li><a href="/wiki/Economic_surplus" title="Economic surplus">Surplus</a></li> <li><a href="/wiki/Social_choice_theory" title="Social choice theory">Social choice</a></li> <li><a href="/wiki/Supply_and_demand" title="Supply and demand">Supply and demand</a> <ul><li><a href="/wiki/Demand" title="Demand">Demand</a>/<a href="/wiki/Law_of_demand" title="Law of demand">Law of demand</a></li> <li><a href="/wiki/Supply_(economics)" title="Supply (economics)">Supply</a>/<a href="/wiki/Law_of_supply" title="Law of supply">Law of supply</a></li></ul></li> <li><a href="/wiki/Uncertainty" title="Uncertainty">Uncertainty</a></li> <li><a href="/wiki/Utility" title="Utility">Utility</a> <ul><li><a href="/wiki/Expected_utility_hypothesis" title="Expected utility hypothesis">Expected</a></li> <li><a href="/wiki/Marginal_utility" title="Marginal utility">Marginal</a></li></ul></li> <li><a href="/wiki/Wage" title="Wage">Wage</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Subfields</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Behavioral_economics" title="Behavioral economics">Behavioral</a></li> <li><a href="/wiki/Business_economics" title="Business economics">Business</a></li> <li><a href="/wiki/Computational_economics" title="Computational economics">Computational</a></li> <li><a href="/wiki/Development_economics" title="Development economics">Development</a></li> <li><a href="/wiki/Statistical_decision_theory" class="mw-redirect" title="Statistical decision theory">Statistical decision theory</a></li> <li><a href="/wiki/Econometrics" title="Econometrics">Econometrics</a></li> <li><a href="/wiki/Engineering_economics" title="Engineering economics">Engineering economics</a></li> <li><a href="/wiki/Engineering_economics_(civil_engineering)" title="Engineering economics (civil engineering)">Civil engineering economics</a></li> <li><a href="/wiki/Evolutionary_economics" title="Evolutionary economics">Evolutionary</a></li> <li><a href="/wiki/Experimental_economics" title="Experimental economics">Experimental</a></li> <li><a href="/wiki/Game_theory" title="Game theory">Game theory</a></li> <li><a href="/wiki/Green_economy" title="Green economy">Green</a></li> <li><a href="/wiki/Industrial_organization" title="Industrial organization">Industrial organization</a></li> <li><a href="/wiki/Institutional_economics" title="Institutional economics">Institutional</a></li> <li><a href="/wiki/Labour_economics" title="Labour economics">Labor</a></li> <li><a href="/wiki/Law_and_economics" title="Law and economics">Law</a></li> <li><a href="/wiki/Managerial_economics" title="Managerial economics">Managerial</a></li> <li><a href="/wiki/Mathematical_economics" title="Mathematical economics">Mathematical</a></li> <li><a href="/wiki/Microfoundations" title="Microfoundations">Microfoundations of macroeconomics</a></li> <li><a href="/wiki/Operations_research" title="Operations research">Operations research</a></li> <li><a href="/wiki/Mathematical_optimization" title="Mathematical optimization">Optimization</a></li> <li><a href="/wiki/Welfare_economics" title="Welfare economics">Welfare</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">See also</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Economics" title="Economics">Economics</a> <ul><li><a href="/wiki/Applied_economics" title="Applied economics">Applied</a></li></ul></li> <li><a href="/wiki/Macroeconomics" title="Macroeconomics">Macroeconomics</a></li> <li><a href="/wiki/Political_economy" title="Political economy">Political economy</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><span class="nowrap"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Emblem-money.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/16px-Emblem-money.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/24px-Emblem-money.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/32px-Emblem-money.svg.png 2x" data-file-width="48" data-file-height="48" /></a></span> </span><a href="/wiki/Portal:Business" title="Portal:Business">Business portal</a></li> <li><span class="noviewer" typeof="mw:File"><span title="Category"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> <a href="/wiki/Category:Microeconomics" title="Category:Microeconomics">Category</a></li></ul> </div></td></tr></tbody></table></div><div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1066933788"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1066933788"></div><div role="navigation" class="navbox" aria-labelledby="Economics" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Economics" title="Template:Economics"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Economics" title="Template talk:Economics"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Economics" title="Special:EditPage/Template:Economics"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Economics" style="font-size:114%;margin:0 4em"><a href="/wiki/Economics" title="Economics">Economics</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Economics#Theoretical_research" title="Economics">Theoretical</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a class="mw-selflink selflink">Microeconomics</a> <ul><li><a href="/wiki/Decision_theory" title="Decision theory">Decision theory</a></li> <li><a href="/wiki/Price_theory" class="mw-redirect" title="Price theory">Price theory</a></li> <li><a href="/wiki/Game_theory" title="Game theory">Game theory</a></li> <li><a href="/wiki/Contract_theory" title="Contract theory">Contract theory</a></li> <li><a href="/wiki/Mechanism_design" title="Mechanism design">Mechanism design</a></li></ul></li> <li><a href="/wiki/Macroeconomics" title="Macroeconomics">Macroeconomics</a></li> <li><a href="/wiki/Mathematical_economics" title="Mathematical economics">Mathematical economics</a></li> <li><a href="/wiki/Complexity_economics" title="Complexity economics">Complexity economics</a></li> <li><a href="/wiki/Computational_economics" title="Computational economics">Computational economics</a> <ul><li><a href="/wiki/Agent-based_computational_economics" title="Agent-based computational economics">Agent-based computational economics</a></li></ul></li> <li><a href="/wiki/Behavioral_economics" title="Behavioral economics">Behavioral economics</a></li> <li><a href="/wiki/Pluralism_in_economics" title="Pluralism in economics">Pluralism in economics</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Economics#Empirical_research" title="Economics">Empirical</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Econometrics" title="Econometrics">Econometrics</a> <ul><li><a href="/wiki/Economic_statistics" title="Economic statistics">Economic statistics</a></li></ul></li> <li><a href="/wiki/Experimental_economics" title="Experimental economics">Experimental economics</a></li> <li><a href="/wiki/Economic_history" title="Economic history">Economic history</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Applied_economics" title="Applied economics">Applied</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <div class="excerpt-block"><div class="excerpt"> <ul><li><a href="/wiki/Agricultural_economics" title="Agricultural economics">Agricultural</a></li> <li><a href="/wiki/Behavioral_economics" title="Behavioral economics">Behavioral</a></li> <li><a href="/wiki/Business_economics" title="Business economics">Business</a></li> <li><a href="/wiki/Cultural_economics" title="Cultural economics">Cultural</a></li> <li><a href="/wiki/Democracy_and_economic_growth" title="Democracy and economic growth">Democracy</a></li> <li><a href="/wiki/Demographic_economics" title="Demographic economics">Demographic</a></li> <li><a href="/wiki/Development_economics" title="Development economics">Development</a></li> <li><a href="/wiki/Economics_of_digitization" title="Economics of digitization">Digitization</a></li> <li><a href="/wiki/Ecological_economics" title="Ecological economics">Ecological</a></li> <li><a href="/wiki/Education_economics" title="Education economics">Education</a></li> <li><a href="/wiki/Engineering_economics" title="Engineering economics">Engineering</a></li> <li><a href="/wiki/Environmental_economics" title="Environmental economics">Environmental</a></li> <li><a href="/wiki/Evolutionary_economics" title="Evolutionary economics">Evolutionary</a></li> <li><a href="/wiki/Expeditionary_economics" title="Expeditionary economics">Expeditionary</a></li> <li><a href="/wiki/Feminist_economics" title="Feminist economics">Feminist</a></li> <li><a href="/wiki/Financial_economics" title="Financial economics">Financial</a></li> <li><a href="/wiki/Economic_geography" title="Economic geography">Geographical</a></li> <li><a href="/wiki/Happiness_economics" title="Happiness economics">Happiness</a></li> <li><a href="/wiki/Health_economics" title="Health economics">Health</a></li> <li><a href="/wiki/Economic_history" title="Economic history">Historical</a></li> <li><a href="/wiki/Humanistic_economics" title="Humanistic economics">Humanistic</a></li> <li><a href="/wiki/Industrial_organization" title="Industrial organization">Industrial organization</a></li> <li><a href="/wiki/Information_economics" title="Information economics">Information</a></li> <li><a href="/wiki/Institutional_economics" title="Institutional economics">Institutional</a></li> <li><a href="/wiki/Knowledge_economy" title="Knowledge economy">Knowledge</a></li> <li><a href="/wiki/Labour_economics" title="Labour economics">Labour</a></li> <li><a href="/wiki/Law_and_economics" title="Law and economics">Law</a></li> <li><a href="/wiki/Managerial_economics" title="Managerial economics">Managerial</a></li> <li><a href="/wiki/Monetary_economics" title="Monetary economics">Monetary</a></li> <li><a href="/wiki/Natural_resource_economics" title="Natural resource economics">Natural resource</a></li> <li><a href="/wiki/Organizational_economics" title="Organizational economics">Organizational</a></li> <li><a href="/wiki/Economics_of_participation" title="Economics of participation">Participation</a></li> <li><a href="/wiki/Personnel_economics" title="Personnel economics">Personnel</a></li> <li><a href="/wiki/Economic_planning" title="Economic planning">Planning</a></li> <li><a href="/wiki/Economic_policy" title="Economic policy">Policy</a></li> <li><a href="/wiki/Public_economics" title="Public economics">Public</a></li> <li><a href="/wiki/Public_choice" title="Public choice">Public choice</a> / <a href="/wiki/Social_choice_theory" title="Social choice theory">Social choice theory</a></li> <li><a href="/wiki/Regional_economics" title="Regional economics">Regional</a></li> <li><a href="/wiki/Rural_economics" title="Rural economics">Rural</a></li> <li><a href="/wiki/Service_economy" title="Service economy">Service</a></li> <li><a href="/wiki/Socioeconomics" class="mw-redirect" title="Socioeconomics">Socio</a></li> <li><a href="/wiki/Economic_sociology" title="Economic sociology">Sociological</a></li> <li><a href="/wiki/Solidarity_economy" title="Solidarity economy">Solidarity</a></li> <li><a href="/wiki/Economic_statistics" title="Economic statistics">Statistics</a></li> <li><a href="/wiki/Urban_economics" title="Urban economics">Urban</a></li> <li><a href="/wiki/Welfare_economics" title="Welfare economics">Welfare</a></li></ul></div></div> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Schools_of_economic_thought" title="Schools of economic thought">Schools</a><br />(<a href="/wiki/History_of_economic_thought" title="History of economic thought">history</a>)<br /></div></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Mainstream_economics" title="Mainstream economics">Mainstream</a></li> <li><a href="/wiki/Heterodox_economics" title="Heterodox economics">Heterodox</a></li> <li><a href="/wiki/American_School_(economics)" title="American School (economics)">American (National)</a></li> <li><a href="/wiki/Ancient_economic_thought" title="Ancient economic thought">Ancient thought</a></li> <li><a href="/wiki/Anarchist_economics" class="mw-redirect" title="Anarchist economics">Anarchist</a> <ul><li><a href="/wiki/Mutualism_(economic_theory)" title="Mutualism (economic theory)">Mutualism</a></li></ul></li> <li><a href="/wiki/Austrian_School" class="mw-redirect" title="Austrian School">Austrian</a></li> <li><a href="/wiki/Behavioral_economics" title="Behavioral economics">Behavioral</a></li> <li><a href="/wiki/Buddhist_economics" title="Buddhist economics">Buddhist</a></li> <li><a href="/wiki/Chartalism" title="Chartalism">Chartalism</a> <ul><li><a href="/wiki/Modern_monetary_theory" title="Modern monetary theory">Modern monetary theory</a></li></ul></li> <li><a href="/wiki/Chicago_school_of_economics" title="Chicago school of economics">Chicago</a></li> <li><a href="/wiki/Classical_economics" title="Classical economics">Classical</a></li> <li><a href="/wiki/Critique_of_political_economy" title="Critique of political economy">Critique of political economy</a></li> <li><a href="/wiki/Economic_democracy" title="Economic democracy">Democratic</a></li> <li><a href="/wiki/Disequilibrium_macroeconomics" title="Disequilibrium macroeconomics">Disequilibrium</a></li> <li><a href="/wiki/Ecological_economics" title="Ecological economics">Ecological</a></li> <li><a href="/wiki/Evolutionary_economics" title="Evolutionary economics">Evolutionary</a></li> <li><a href="/wiki/Feminist_economics" title="Feminist economics">Feminist</a></li> <li><a href="/wiki/Georgism" title="Georgism">Georgism</a></li> <li><a href="/wiki/Happiness_economics" title="Happiness economics">Happiness</a></li> <li><a href="/wiki/Historical_school_of_economics" title="Historical school of economics">Historical</a></li> <li><a href="/wiki/Humanistic_economics" title="Humanistic economics">Humanistic</a></li> <li><a href="/wiki/Institutional_economics" title="Institutional economics">Institutional</a></li> <li><a href="/wiki/Keynesian_economics" title="Keynesian economics">Keynesian</a> <ul><li><a href="/wiki/Neo-Keynesian_economics" class="mw-redirect" title="Neo-Keynesian economics">Neo-</a> (<a href="/wiki/Neoclassical_synthesis" title="Neoclassical synthesis">neoclassical–Keynesian synthesis</a>)</li> <li><a href="/wiki/New_Keynesian_economics" title="New Keynesian economics">New</a></li> <li><a href="/wiki/Post-Keynesian_economics" title="Post-Keynesian economics">Post-</a> <ul><li><a href="/wiki/Monetary_circuit_theory" title="Monetary circuit theory">Circuitism</a></li></ul></li></ul></li> <li><a href="/wiki/Malthusianism" title="Malthusianism">Malthusianism</a></li> <li><a href="/wiki/Marginalism" title="Marginalism">Marginalism</a></li> <li><a href="/wiki/Marxian_economics" title="Marxian economics">Marxian</a> <ul><li><a href="/wiki/Neo-Marxian_economics" class="mw-redirect" title="Neo-Marxian economics">Neo-</a></li></ul></li> <li><a href="/wiki/Mercantilism" title="Mercantilism">Mercantilism</a></li> <li><a href="/wiki/Mixed_economy" title="Mixed economy">Mixed</a></li> <li><a href="/wiki/Neoclassical_economics" title="Neoclassical economics">Neoclassical</a> <ul><li><a href="/wiki/Lausanne_School" title="Lausanne School">Lausanne</a></li></ul></li> <li><a href="/wiki/New_classical_macroeconomics" title="New classical macroeconomics">New classical</a> <ul><li><a href="/wiki/Real_business-cycle_theory" title="Real business-cycle theory">Real business-cycle theory</a></li></ul></li> <li><a href="/wiki/New_institutional_economics" title="New institutional economics">New institutional</a></li> <li><a href="/wiki/Physiocracy" title="Physiocracy">Physiocracy</a></li> <li><a href="/wiki/Socialist_economics" title="Socialist economics">Socialist</a></li> <li><a href="/wiki/Stockholm_School_(economics)" title="Stockholm School (economics)">Stockholm</a></li> <li><a href="/wiki/Supply-side_economics" title="Supply-side economics">Supply-side</a></li> <li><a href="/wiki/Thermoeconomics" title="Thermoeconomics">Thermo</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Economist" title="Economist">Economists</a><br /></div></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Bernard_de_Mandeville" class="mw-redirect" title="Bernard de Mandeville">de Mandeville</a></li> <li><a href="/wiki/Fran%C3%A7ois_Quesnay" title="François Quesnay">Quesnay</a></li> <li><a href="/wiki/Adam_Smith" title="Adam Smith">Smith</a></li> <li><a href="/wiki/Thomas_Robert_Malthus" title="Thomas Robert Malthus">Malthus</a></li> <li><a href="/wiki/Jean-Baptiste_Say" title="Jean-Baptiste Say">Say</a></li> <li><a href="/wiki/David_Ricardo" title="David Ricardo">Ricardo</a></li> <li><a href="/wiki/Johann_Heinrich_von_Th%C3%BCnen" title="Johann Heinrich von Thünen">von Thünen</a></li> <li><a href="/wiki/Friedrich_List" title="Friedrich List">List</a></li> <li><a href="/wiki/Fr%C3%A9d%C3%A9ric_Bastiat" title="Frédéric Bastiat">Bastiat</a></li> <li><a href="/wiki/Antoine_Augustin_Cournot" title="Antoine Augustin Cournot">Cournot</a></li> <li><a href="/wiki/John_Stuart_Mill" title="John Stuart Mill">Mill</a></li> <li><a href="/wiki/Hermann_Heinrich_Gossen" title="Hermann Heinrich Gossen">Gossen</a></li> <li><a href="/wiki/Karl_Marx" title="Karl Marx">Marx</a></li> <li><a href="/wiki/L%C3%A9on_Walras" title="Léon Walras">Walras</a></li> <li><a href="/wiki/William_Stanley_Jevons" title="William Stanley Jevons">Jevons</a></li> <li><a href="/wiki/Henry_George" title="Henry George">George</a></li> <li><a href="/wiki/Carl_Menger" title="Carl Menger">Menger</a></li> <li><a href="/wiki/Alfred_Marshall" title="Alfred Marshall">Marshall</a></li> <li><a href="/wiki/Francis_Ysidro_Edgeworth" title="Francis Ysidro Edgeworth">Edgeworth</a></li> <li><a href="/wiki/John_Bates_Clark" title="John Bates Clark">Clark</a></li> <li><a href="/wiki/Vilfredo_Pareto" title="Vilfredo Pareto">Pareto</a></li> <li><a href="/wiki/Eugen_von_B%C3%B6hm-Bawerk" title="Eugen von Böhm-Bawerk">von Böhm-Bawerk</a></li> <li><a href="/wiki/Friedrich_von_Wieser" title="Friedrich von Wieser">von Wieser</a></li> <li><a href="/wiki/Thorstein_Veblen" title="Thorstein Veblen">Veblen</a></li> <li><a href="/wiki/Irving_Fisher" title="Irving Fisher">Fisher</a></li> <li><a href="/wiki/Arthur_Cecil_Pigou" title="Arthur Cecil Pigou">Pigou</a></li> <li><a href="/wiki/Eli_Heckscher" title="Eli Heckscher">Heckscher</a></li> <li><a href="/wiki/Ludwig_von_Mises" title="Ludwig von Mises">von Mises</a></li> <li><a href="/wiki/Joseph_Schumpeter" title="Joseph Schumpeter">Schumpeter</a></li> <li><a href="/wiki/John_Maynard_Keynes" title="John Maynard Keynes">Keynes</a></li> <li><a href="/wiki/Frank_Knight" title="Frank Knight">Knight</a></li> <li><a href="/wiki/Karl_Polanyi" title="Karl Polanyi">Polanyi</a></li> <li><a href="/wiki/Ragnar_Frisch" title="Ragnar Frisch">Frisch</a></li> <li><a href="/wiki/Piero_Sraffa" title="Piero Sraffa">Sraffa</a></li> <li><a href="/wiki/Gunnar_Myrdal" title="Gunnar Myrdal">Myrdal</a></li> <li><a href="/wiki/Friedrich_Hayek" title="Friedrich Hayek">Hayek</a></li> <li><a href="/wiki/Micha%C5%82_Kalecki" title="Michał Kalecki">Kalecki</a></li> <li><a href="/wiki/Wilhelm_R%C3%B6pke" title="Wilhelm Röpke">Röpke</a></li> <li><a href="/wiki/Simon_Kuznets" title="Simon Kuznets">Kuznets</a></li> <li><a href="/wiki/Jan_Tinbergen" title="Jan Tinbergen">Tinbergen</a></li> <li><a href="/wiki/Joan_Robinson" title="Joan Robinson">Robinson</a></li> <li><a href="/wiki/John_von_Neumann" title="John von Neumann">von Neumann</a></li> <li><a href="/wiki/John_Hicks" title="John Hicks">Hicks</a></li> <li><a href="/wiki/Oskar_R._Lange" title="Oskar R. Lange">Lange</a></li> <li><a href="/wiki/Wassily_Leontief" title="Wassily Leontief">Leontief</a></li> <li><a href="/wiki/John_Kenneth_Galbraith" title="John Kenneth Galbraith">Galbraith</a></li> <li><a href="/wiki/Tjalling_Koopmans" title="Tjalling Koopmans">Koopmans</a></li> <li><a href="/wiki/E._F._Schumacher" title="E. F. Schumacher">Schumacher</a></li> <li><a href="/wiki/Milton_Friedman" title="Milton Friedman">Friedman</a></li> <li><a href="/wiki/Paul_Samuelson" title="Paul Samuelson">Samuelson</a></li> <li><a href="/wiki/Herbert_A._Simon" title="Herbert A. Simon">Simon</a></li> <li><a href="/wiki/James_M._Buchanan" title="James M. Buchanan">Buchanan</a></li> <li><a href="/wiki/Kenneth_Arrow" title="Kenneth Arrow">Arrow</a></li> <li><a href="/wiki/William_Baumol" title="William Baumol">Baumol</a></li> <li><a href="/wiki/Robert_Solow" title="Robert Solow">Solow</a></li> <li><a href="/wiki/Murray_Rothbard" title="Murray Rothbard">Rothbard</a></li> <li><a href="/wiki/Alan_Greenspan" title="Alan Greenspan">Greenspan</a></li> <li><a href="/wiki/Thomas_Sowell" title="Thomas Sowell">Sowell</a></li> <li><a href="/wiki/Gary_Becker" title="Gary Becker">Becker</a></li> <li><a href="/wiki/Elinor_Ostrom" title="Elinor Ostrom">Ostrom</a></li> <li><a href="/wiki/Amartya_Sen" title="Amartya Sen">Sen</a></li> <li><a href="/wiki/Robert_Lucas_Jr." title="Robert Lucas Jr.">Lucas</a></li> <li><a href="/wiki/Joseph_Stiglitz" title="Joseph Stiglitz">Stiglitz</a></li> <li><a href="/wiki/Richard_Thaler" title="Richard Thaler">Thaler</a></li> <li><a href="/wiki/Hans-Hermann_Hoppe" title="Hans-Hermann Hoppe">Hoppe</a></li> <li><a href="/wiki/Paul_Krugman" title="Paul Krugman">Krugman</a></li> <li><a href="/wiki/Thomas_Piketty" title="Thomas Piketty">Piketty</a></li> <li><i><a href="/wiki/Category:Economists" title="Category:Economists">more</a></i></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Category:Economics_lists" title="Category:Economics lists">Lists</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"><div class="excerpt-block"><div class="excerpt"> <ul><li><a href="/wiki/Glossary_of_economics" title="Glossary of economics">Glossary</a></li> <li><a href="/wiki/List_of_economists" title="List of economists">Economists</a></li> <li><a href="/wiki/List_of_important_publications_in_economics" title="List of important publications in economics">Publications</a> (<a href="/wiki/List_of_economics_journals" title="List of economics journals">journals</a>)</li> <li><a href="/wiki/Schools_of_economic_thought" title="Schools of economic thought">Schools</a></li></ul></div></div></div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <li><a href="/wiki/Category:Economics" title="Category:Economics">Category</a></li> <li><a href="/wiki/Index_of_economics_articles" title="Index of economics articles">Index</a></li> <li><a href="/wiki/Category:Economics_lists" title="Category:Economics lists">Lists</a></li> <li><a href="/wiki/Outline_of_economics" title="Outline of economics">Outline</a></li> <li><a href="/wiki/List_of_important_publications_in_economics" title="List of important publications in economics">Publications</a></li> <li><a href="/wiki/Portal:Business" title="Portal:Business">Business portal</a></li> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Social_sciences" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Social_sciences" title="Template:Social sciences"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Social_sciences" title="Template talk:Social sciences"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Social_sciences" title="Special:EditPage/Template:Social sciences"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Social_sciences" style="font-size:114%;margin:0 4em"><a href="/wiki/Social_science" title="Social science">Social sciences</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><a href="/wiki/Outline_of_social_science" title="Outline of social science">Outline</a></li> <li><a href="/wiki/History_of_the_social_sciences" title="History of the social sciences">History</a></li> <li><a href="/wiki/Index_of_sociology_articles" title="Index of sociology articles">Index</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Primary</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Anthropology" title="Anthropology">Anthropology</a> <ul><li><a href="/wiki/Archaeology" title="Archaeology">archaeology</a></li> <li><a href="/wiki/Cultural_anthropology" title="Cultural anthropology">cultural</a></li> <li><a href="/wiki/Social_anthropology" title="Social anthropology">social</a></li> <li><a href="/wiki/Physical_anthropology" class="mw-redirect" title="Physical anthropology">physical</a></li></ul></li> <li><a href="/wiki/Economics" title="Economics">Economics</a> <ul><li><a class="mw-selflink selflink">microeconomics</a></li> <li><a href="/wiki/Macroeconomics" title="Macroeconomics">macroeconomics</a></li> <li><a href="/wiki/Econometrics" title="Econometrics">econometrics</a></li> <li><a href="/wiki/Mathematical_economics" title="Mathematical economics">mathematical</a></li></ul></li> <li><a href="/wiki/Geography" title="Geography">Geography</a> <ul><li><a href="/wiki/Physical_geography" title="Physical geography">physical</a></li> <li><a href="/wiki/Human_geography" title="Human geography">human</a></li> <li><a href="/wiki/Technical_geography" title="Technical geography">technical</a></li> <li><a href="/wiki/Integrated_geography" title="Integrated geography">integrated</a></li></ul></li> <li><a href="/wiki/History" title="History">History</a> <ul><li><a href="/wiki/Cultural_history" title="Cultural history">cultural</a></li> <li><a href="/wiki/Auxiliary_sciences_of_history" title="Auxiliary sciences of history">auxiliary sciences</a></li> <li><a href="/wiki/Economic_history" title="Economic history">economic</a></li> <li><a href="/wiki/World_history_(field)" title="World history (field)">human</a></li> <li><a href="/wiki/Military_history" title="Military history">military</a></li> <li><a href="/wiki/Political_history" title="Political history">political</a></li> <li><a href="/wiki/Social_history" title="Social history">social</a></li></ul></li> <li><a href="/wiki/Law" title="Law">Law</a> <ul><li><a href="/wiki/Jurisprudence" title="Jurisprudence">jurisprudence</a></li> <li><a href="/wiki/Legal_history" title="Legal history">legal history</a></li> <li><a href="/wiki/List_of_national_legal_systems" title="List of national legal systems">legal systems</a></li> <li><a href="/wiki/Public_law" title="Public law">public law</a></li> <li><a href="/wiki/Private_law" title="Private law">private law</a></li></ul></li> <li><a href="/wiki/Linguistics" title="Linguistics">Linguistics</a> <ul><li><a href="/wiki/Semiotics" title="Semiotics">semiotics</a></li></ul></li> <li><a href="/wiki/Political_science" title="Political science">Political science</a> <ul><li><a href="/wiki/International_relations" title="International relations">international relations</a></li> <li><a href="/wiki/Comparative_politics" title="Comparative politics">comparative</a></li> <li><a href="/wiki/Political_philosophy" title="Political philosophy">philosophy</a></li> <li><a href="/wiki/Public_policy" title="Public policy">public policy</a></li> <li><a href="/wiki/Public_administration" title="Public administration">public administration</a></li></ul></li> <li><a href="/wiki/Psychology" title="Psychology">Psychology</a> <ul><li><a href="/wiki/Abnormal_psychology" title="Abnormal psychology">abnormal</a></li> <li><a href="/wiki/Cognitive_psychology" title="Cognitive psychology">cognitive</a></li> <li><a href="/wiki/Developmental_psychology" title="Developmental psychology">developmental</a></li> <li><a href="/wiki/Personality_psychology" title="Personality psychology">personality</a></li> <li><a href="/wiki/Social_psychology" title="Social psychology">social</a></li></ul></li> <li><a href="/wiki/Sociology" title="Sociology">Sociology</a> <ul><li><a href="/wiki/Criminology" title="Criminology">criminology</a></li> <li><a href="/wiki/Demography" title="Demography">demography</a></li> <li><a href="/wiki/Sociology_of_the_Internet" title="Sociology of the Internet">internet</a></li> <li><a href="/wiki/Rural_sociology" title="Rural sociology">rural</a></li> <li><a href="/wiki/Urban_sociology" title="Urban sociology">urban</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Interdisciplinary</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li>Administration <ul><li><a href="/wiki/Business_administration" title="Business administration">business</a></li> <li><a href="/wiki/Public_administration" title="Public administration">public</a></li></ul></li> <li><a href="/wiki/Anthrozoology" title="Anthrozoology">Anthrozoology</a></li> <li><a href="/wiki/Area_studies" title="Area studies">Area studies</a></li> <li><a href="/wiki/Business_studies" title="Business studies">Business studies</a></li> <li><a href="/wiki/Cognitive_science" title="Cognitive science">Cognitive science</a></li> <li><a href="/wiki/Communication_studies" title="Communication studies">Communication studies</a></li> <li><a href="/wiki/Community_studies" title="Community studies">Community studies</a></li> <li><a href="/wiki/Criminology" title="Criminology">Criminology</a></li> <li><a href="/wiki/Cultural_studies" title="Cultural studies">Cultural studies</a></li> <li><a href="/wiki/Development_studies" title="Development studies">Development studies</a></li> <li><a href="/wiki/Education" title="Education">Education</a></li> <li>Environmental <ul><li><a href="/wiki/Environmental_social_science" title="Environmental social science">social science</a></li> <li><a href="/wiki/Environmental_studies" title="Environmental studies">studies</a></li></ul></li> <li><a href="/wiki/Food_studies" title="Food studies">Food studies</a></li> <li><a href="/wiki/Gender_studies" title="Gender studies">Gender studies</a></li> <li><a href="/wiki/Global_studies" title="Global studies">Global studies</a></li> <li><a href="/wiki/Historical_sociology" title="Historical sociology">Historical sociology</a></li> <li><a href="/wiki/History_of_technology" title="History of technology">History of technology</a></li> <li><a href="/wiki/Human_ecology" title="Human ecology">Human ecology</a></li> <li><a href="/wiki/Information_science" title="Information science">Information science</a></li> <li><a href="/wiki/International_relations" title="International relations">International studies</a></li> <li><a href="/wiki/Linguistics" title="Linguistics">Linguistics</a></li> <li><a href="/wiki/Management" title="Management">Management</a></li> <li><a href="/wiki/Media_studies" title="Media studies">Media studies</a></li> <li>Philosophies <ul><li><a href="/wiki/Philosophy_of_science" title="Philosophy of science">science</a></li> <li><a href="/wiki/Philosophy_and_economics" title="Philosophy and economics"> economics</a></li> <li><a href="/wiki/Philosophy_of_history" title="Philosophy of history">history</a></li> <li><a href="/wiki/Philosophy_of_psychology" title="Philosophy of psychology">psychology</a></li> <li><a href="/wiki/Philosophy_of_social_science" title="Philosophy of social science">social science</a></li></ul></li> <li>Planning <ul><li><a href="/wiki/Land-use_planning" title="Land-use planning">land use</a></li> <li><a href="/wiki/Regional_planning" title="Regional planning">regional</a></li> <li><a href="/wiki/Urban_planning" title="Urban planning">urban</a></li></ul></li> <li><a href="/wiki/Political_ecology" title="Political ecology">Political ecology</a></li> <li><a href="/wiki/Political_economy" title="Political economy">Political economy</a></li> <li><a href="/wiki/Political_sociology" title="Political sociology">Political sociology</a></li> <li><a href="/wiki/Public_health" title="Public health">Public health</a></li> <li><a href="/wiki/Regional_science" title="Regional science">Regional science</a></li> <li><a href="/wiki/Science_and_technology_studies" title="Science and technology studies">Science and technology studies</a></li> <li><a href="/wiki/Science_studies" title="Science studies">Science studies</a> <ul><li><a href="/wiki/History_of_science" title="History of science">historical</a></li> <li><a href="/wiki/Quantum_social_science" 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title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Population" title="Template talk:Population"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Population" title="Special:EditPage/Template:Population"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Population" style="font-size:114%;margin:0 4em"><a href="/wiki/Population" title="Population">Population</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Major topics</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Demographics_of_the_world" title="Demographics of the world">Demographics of the world</a></li> <li><a href="/wiki/Demographic_transition" title="Demographic transition">Demographic transition</a></li> <li><a href="/wiki/Estimates_of_historical_world_population" title="Estimates of historical world population">Estimates of historical world population</a></li> <li><a href="/wiki/Population_growth" title="Population growth">Population growth</a></li> <li><a href="/wiki/Population_momentum" title="Population momentum">Population momentum</a></li> <li><a href="/wiki/Projections_of_population_growth" class="mw-redirect" title="Projections of population growth">Projections of population growth</a></li> <li><a href="/wiki/World_population" title="World population">World population</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Population_biology" title="Population biology">Population<br />biology</a></div></th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Population_decline" title="Population decline">Population decline</a></li> <li><a href="/wiki/Population_density" title="Population density">Population density</a> <ul><li><a href="/wiki/Physiological_density" title="Physiological density">Physiological density</a></li></ul></li> <li><a href="/wiki/Population_dynamics" title="Population dynamics">Population dynamics</a></li> <li><a href="/wiki/Population_model" title="Population model">Population model</a></li> <li><a href="/wiki/Population_pyramid" title="Population pyramid">Population pyramid</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Population_ecology" title="Population ecology">Population<br />ecology</a></div></th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Biocapacity" title="Biocapacity">Biocapacity</a></li> <li><a href="/wiki/Carrying_capacity" title="Carrying capacity">Carrying capacity</a></li> <li><span class="nowrap"><a href="/wiki/I_%3D_PAT" title="I = PAT">I = P × A × T</a></span></li> <li><a href="/wiki/Kaya_identity" title="Kaya identity">Kaya identity</a></li> <li><a href="/wiki/Malthusian_growth_model" title="Malthusian growth model">Malthusian growth model</a></li> <li><a href="/wiki/Overshoot_(population)" title="Overshoot (population)">Overshoot (population)</a></li> <li><a href="/wiki/World3" title="World3">World3 model</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Society and<br /> population</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Eugenics" title="Eugenics">Eugenics</a></li> <li><a href="/wiki/Dysgenics" title="Dysgenics"><i>Dys</i>genics</a></li> <li><a href="/wiki/Human_overpopulation" title="Human overpopulation">Human overpopulation</a> <ul><li><a href="/wiki/Malthusianism" title="Malthusianism">Malthusian catastrophe</a></li></ul></li> <li><a href="/wiki/Human_population_planning" title="Human population planning">Human population planning</a> <ul><li><a href="/wiki/Compulsory_sterilization" title="Compulsory sterilization">Compulsory sterilization</a></li> <li><a href="/wiki/Family_planning" title="Family planning">Family planning</a></li> <li><a href="/wiki/One-child_policy" title="One-child policy">One-child policy</a></li> <li><a href="/wiki/Two-child_policy" title="Two-child policy">Two-child policy</a></li></ul></li> <li><a href="/wiki/Overconsumption_(economics)" title="Overconsumption (economics)">Overconsumption</a></li> <li><a href="/wiki/Political_demography" title="Political demography">Political demography</a></li> <li><a href="/wiki/Population_ethics" title="Population ethics">Population ethics</a> <ul><li><a href="/wiki/Antinatalism" title="Antinatalism">Antinatalism</a></li> <li><a href="/wiki/Mere_addition_paradox" title="Mere addition paradox">Mere addition paradox</a></li> <li><a href="/wiki/Natalism" title="Natalism">Natalism</a></li> <li><a href="/wiki/Non-identity_problem" class="mw-redirect" title="Non-identity problem">Non-identity problem</a></li> <li><a href="/wiki/Reproductive_rights" title="Reproductive rights">Reproductive rights</a></li></ul></li> <li><a href="/wiki/Sustainable_population" title="Sustainable population">Sustainable population</a></li> <li><a href="/wiki/Zero_population_growth" title="Zero population growth">Zero population growth</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Publications</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0;font-style:italic;"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Population_and_Environment" title="Population and Environment">Population and Environment</a></li> <li><a href="/wiki/Population_and_Development_Review" title="Population and Development Review">Population and Development Review</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Lists</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Population_and_housing_censuses_by_country" title="Population and housing censuses by country">Population and housing censuses by country</a></li> <li><a href="/wiki/List_of_largest_cities" title="List of largest cities">Largest cities</a></li> <li><a href="/wiki/World_population_milestones" title="World population milestones">World population milestones</a> <ul><li><a href="/wiki/Day_of_Six_Billion" title="Day of Six Billion">6 billion</a></li> <li><a href="/wiki/Day_of_Seven_Billion" title="Day of Seven Billion">7</a></li> <li><a href="/wiki/Day_of_Eight_Billion" title="Day of Eight Billion">8</a></li></ul></li> <li><a href="/wiki/List_of_population_concern_organizations" title="List of population concern organizations">Population concern organizations</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Events and<br />organizations</div></th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/7_Billion_Actions" title="7 Billion Actions">7 Billion Actions</a></li> <li><a href="/wiki/Church_of_Euthanasia" title="Church of Euthanasia">Church of Euthanasia</a></li> <li><a href="/wiki/International_Conference_on_Population_and_Development" title="International Conference on Population and Development">International Conference on Population and Development</a></li> <li><a href="/wiki/Population_Action_International" title="Population Action International">Population Action International</a></li> <li><a href="/wiki/Population_Connection" title="Population Connection">Population Connection</a></li> <li><a href="/wiki/Population_Matters" title="Population Matters">Population Matters</a></li> <li><a href="/wiki/United_Nations_Population_Fund" title="United Nations Population Fund">United Nations Population Fund</a></li> <li><a href="/wiki/United_Nations_world_population_conferences" title="United Nations world population conferences">United Nations world population conferences</a></li> <li><a href="/wiki/Voluntary_Human_Extinction_Movement" title="Voluntary Human Extinction Movement">Voluntary Human Extinction Movement</a></li> <li><a href="/wiki/World_Population_Conference" title="World Population Conference">World Population Conference</a></li> <li><a href="/wiki/World_Population_Day" title="World Population Day">World Population Day</a></li> <li><a href="/wiki/World_Population_Foundation" title="World Population Foundation">World Population Foundation</a></li></ul> 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