Microeconomic Theory

Contrary to widely held beliefs, microeconomic theory bears no rela­ tion to the size of the product under consideration; indeed a micro theorist can just as easily discuss the sale of a whale as he would discuss a whale of a sale in amoebae. In fact, it possibly is true that a theorist, and a microeconomic theorist in particular, does not have any specific products in mind when he bandies his pro...