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Coursera The Power of Markets II: Market Structure and Firm Behavior

University of Rochester via Coursera

  • Overview
  1. Coursera
    Platform:
    Coursera
    Provider:
    University of Rochester
    Length:
    4 weeks
    Effort:
    3-5 hours/week
    Language:
    English
    Credentials:
    Paid Certificate Available
    Overview
    In order to maximize profits, firms must ensure that any given output level is produced at least cost and then select the price-output combination that results in total revenue exceeding total cost by the greatest amount possible. With this in mind, this second module of the Power of Markets course addresses how firms can most effectively convert inputs into final output and then covers determining the best price-output combination for a firm and how this varies depending on whether the firm is operating in a perfectly competitive or imperfectly competitive market setting.

    Syllabus
    Week 5 - Production
    The Production Process: How Firms Convert Inputs into Final Outputs.

    Week 6 - Cost Minimization
    How Firms Minimize the Cost of Producing Output.

    Week 7 - Profit Maximization in Perfectly Competitive Markets
    How Firms Maximize Profits in Perfectly Competitive Markets.

    Week 8 - Monopoly Power: Its Sources and How to Use It
    The Sources and Uses of Monopoly Power.

    Taught by
    Mark Zupan

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