  We use more than 4,500 microflares from the Reuven Ramaty High Energy Solar
Spectroscopic Imager (RHESSI) microflare data set (Christe et al., 2008, Ap.
J., 677, 1385) to estimate electron densities and volumetric filling factors of
microflare loops using a cooling time analysis. We show that if the filling
factor is assumed to be unity, the calculated conductive cooling times are much
shorter than the observed flare decay times, which in turn are much shorter
than the calculated radiative cooling times. This is likely unphysical, but the
contradic- tion can be resolved by assuming the radiative and conductive
cooling times are comparable, which is valid when the flare loop temperature is
a maximum and when external heating can be ignored. We find that resultant
radiative and con- ductive cooling times are comparable to observed decay
times, which has been used as an assumption in some previous studies. The
inferred electron densities have a mean value of 10^11.6 cm^-3 and filling
factors have a mean of 10^-3.7. The filling factors are lower and densities are
higher than previous estimates for large flares, but are similar to those found
for two microflares by Moore et al. (Ap. J., 526, 505, 1999).
