Class Central is learner-supported. When you buy through links on our site, we may earn an affiliate commission.

University of Rochester

The Power of Markets II: Market Structure and Firm Behavior

University of Rochester via Coursera

Overview

Save Big on Coursera Plus. 7,000+ courses at $160 off. Limited Time Only!
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

Reviews

4.7 rating at Coursera based on 113 ratings

Start your review of The Power of Markets II: Market Structure and Firm Behavior

Never Stop Learning.

Get personalized course recommendations, track subjects and courses with reminders, and more.

Someone learning on their laptop while sitting on the floor.