Name the two actors in the basic neoclassical or, Ask an Expert

Economics

Name the two actors in the basic neoclassical (or traditional microeconomic) model of economics, and identify the assumptions the model makes of these two actors.

Firms and households. Firms are suppose to maximize profits, and households are suppose to maximize their utility (or satisfaction).

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9574753

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