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This paper details a procedure based on bifurcation theory to evaluate the impact that droops and primary reserve scheduling have on the microgrid stability. The methodology is based on finding the worst primary reserve share-that is, the share closest to instability-that can be found after rescheduling the droops of selected generating units that support frequency (and voltage) regulation. The solution-which consists of a measure of the distance to instability in a given direction-is found in a multi-parameter space endowed with coordinates corresponding to the droop coefficients. Two stages are proposed to achieve the solution. First, an investigation of the distance to bifurcation is computed in a one-dimensional parameter space in a defined search direction. Then the direction of this search is updated by calculating the normal vector at the found bifurcation point. The procedure is iteratively repeated until the closest bifurcation is found. The proposed approach is analyzed in a 69-bus and 11-generation unit isolated microgrid. It is shown through the analysis of some scenarios how the distances and normal vectors provide valuable insight on the correct scheduling from the stability point of view, giving advice on how the primary reserve should be more reliably scheduled.