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1. What is Microeconomics and explain the use of Microeconomics. (20 points) 2. Explain the utility theory and the price theory from the basic concepts

1. What is Microeconomics and explain the use of Microeconomics. (20 points)

2. Explain the utility theory and the price theory from the basic concepts of Microeconomics. (30

points)

3. What is opportunity cost and explain the opportunity cost and capital structure of a business. (30

points)

4. What is circular flow of income and what increases the circular flow of income. (20 points)

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