The Power of Markets II: Market Structure and Firm Behavior

 

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 II 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 Behaviour will require a commitment of 3-5 hours/week.

How to Pass the Course
Pass all graded assignments to complete the course.

Week 1: ProductionThe Power of Markets III: Input Markets and Promoting Efficiency

Week 2: Cost Minimization

Week 3: Profit Maximization in Perfectly Competitive Markets

Week 4: Monopoly Power: Its Sources and How to Use It

If you would like to read more about this course, click here!

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University of Rochester

University of Rochester

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