Mikroekonomi is a branch of economics that focuses on the behavior of individuals and firms in making decisions about the allocation of limited resources. It examines how these entities interact in markets, determining prices and quantities of goods and services. Key concepts include supply and demand, elasticity, and consumer behavior. In mikroekonomi, the analysis often involves understanding how changes in market conditions affect individual choices and overall market outcomes. It helps explain phenomena such as market failures, externalities, and the impact of government policies on economic efficiency.