Which of the following refers to the study of the economic behavior of individual decision-making units, such as individual consumers, resource owners, and business firms, in a free-enterprise system?

A. Managerial economics

B. Macroeconomics

C. Microeconomics

D. Econometrics

C. Microeconomics

Explanation:

Being a part of the economics that studies the behavioral patterns in the individual in decision making of the organization and regarding the allocation of resources and their interaction amongst the resources. Focuses more on the elasticity of demand and shows how responsive an economic variable is likely to bring a charge on the economic variable.