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An economist is tasked with explaining why the market price for a specific brand of electric car has significantly decreased over the past year. Arrange the following analytical steps in the most logical order that a microeconomic approach would follow.
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An economist is tasked with explaining why the market price for a specific brand of electric car has significantly decreased over the past year. Arrange the following analytical steps in the most logical order that a microeconomic approach would follow.
The branch of economics that analyzes the behavior and decisions of individual units, such as a single consumer's purchasing choices or a specific company's pricing strategy, is known as ____.