University of Rochester - The Power of Markets II: Market Structure and Firm Behavior
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The Power of Markets II: Market Structure and Firm Behavior at Coursera Overview
Duration | 8 hours |
Start from | Start Now |
Total fee | Free |
Mode of learning | Online |
Difficulty level | Intermediate |
Official Website | Explore Free Course  |
Credential | Certificate |
The Power of Markets II: Market Structure and Firm Behavior at Coursera Highlights
- Shareable Certificate Earn a Certificate upon completion
- 100% online Start instantly and learn at your own schedule.
- Flexible deadlines Reset deadlines in accordance to your schedule.
- Approx. 8 hours to complete
- English Subtitles: English
The Power of Markets II: Market Structure and Firm Behavior at Coursera Course details
- 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.
The Power of Markets II: Market Structure and Firm Behavior at Coursera Curriculum
Week 5 - Production
Production in the Short Run
Total, Average, and Marginal Product Curves
The Law of Diminishing Marginal Returns
Production in the Long Run
Trading Off Inputs in Production
Returns to Scale
Short-run Cost of Production
The Relationship Between Cost Curves
Week 5 Quiz
Week 6 - Cost Minimization
Marginal-Average Cost Relationships
The Golden Rule of Cost Minimization
Applying the Golden Rule of Cost Minimization
Long Run Cost Curves
The Importance of Cost Curves to Market Structure and Efforts to Abate Pollution
Perfect Competition: Key Assumptions
Short-run Profit Maximization
The Competitive Firm?s Short-Run Supply Curve and the Shutdown Condition
Output Response to Input Price Changes
Week 6 Quiz
Week 7 - Profit Maximization in Perfectly Competitive Markets
Short-run Competitive Equilibrium
Long-run Competitive Equilibrium
The Long-run Industry Supply Curve
Key Points About the Long-run Industry Supply Curve
Producer Surplus
Competition Maximizes Total Surplus
Who Bears the Burden of Excise Taxes?
The Deadweight Loss of Excise Taxes
City Taxicab Markets
The Net Gains From Trade
Week 7 Quiz
Week 8 - Monopoly Power: Its Sources and How to Use It
Monopoly: An Introduction
Monopoly and Profit Maximization
Monopoly Price and Its Relationship to Elasticity of Demand
Further Implications of Monopoly Analysis
The Measurement and Sources of Monopoly Power
The Sources of Monopoly Power
The Efficiency Effects of Monopoly
Public Policy Toward Monopoly
Price Discrimination
Three Necessary Conditions for Price Discrimination
Week 8 Quiz
The Power of Markets II: Market Structure and Firm Behavior at Coursera Admission Process
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