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ECO 202 - Microeconomics3 credit(s)This course on microeconomics studies how individuals and firms make consumption and production decisions, and how these decisions determine the allocation of scarce resources in a market. Students will learn the fundamentals of consumer and producer decision making starting with basic concepts such as supply and demand, equilibrium, consumer utility, income and substitution effect, demand, diminishing marginal returns, profit maximization, and supply. |
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