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The field of economics that studies the behavior of the aggregate economy.
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Macroeconomics examines economy-wide phenomena such as changes in unemployment,
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national income, rate of growth, gross domestic product, inflation and price levels.
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The theory of the firm considers what bounds the size and output variety of firms.
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This includes how firms may be able to combine labour and capital so as to lower the average cost of output,
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either from increasing, decreasing, or constant returns to scale for one product line or from economies of scope for more than one product line
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