In microeconomics, even a large company is ‘micro’.
Which of the following options is correct in regard to the above statement?

Always true

The correct answer is Option 1: Always true

In microeconomics, the term "micro" refers to the analysis of individual economic units, such as individual consumers, firms, or markets, regardless of their size. Therefore, even a large company, despite its size and scale of operations, is analyzed at the microeconomic level because microeconomics focuses on studying the behavior of individual economic agents and markets.

In microeconomics, even a large company is ‘micro’ in the sense that it has to act in the interest of its own shareholders which is not necessarily the interest of the country as a whole.