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.
Offered By
The Power of Markets II: Market Structure and Firm Behavior
University of RochesterAbout this Course
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Shareable Certificate
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Approx. 8 hours to complete
English
Subtitles: English
Flexible deadlines
Reset deadlines in accordance to your schedule.
Shareable Certificate
Earn a Certificate upon completion
100% online
Start instantly and learn at your own schedule.
Approx. 8 hours to complete
English
Subtitles: English
Offered by
University of Rochester
The University of Rochester is one of the nation's leading private universities. Located in Rochester, N.Y., the University provides exceptional opportunities for interdisciplinary study and close collaboration with faculty through its unique cluster-based curriculum. Its College, School of Arts and Sciences, and Hajim School of Engineering and Applied Sciences are complemented by its Eastman School of Music, Simon School of Business, Warner School of Education, Laboratory for Laser Energetics, School of Medicine and Dentistry, School of Nursing, Eastman Institute for Oral Health, and the Memorial Art Gallery.
Syllabus - What you will learn from this course
1 hour to complete
Week 5 - Production
The Production Process: How Firms Convert Inputs into Final Outputs.
1 hour to complete
8 videos (Total 57 min)
2 hours to complete
Week 6 - Cost Minimization
How Firms Minimize the Cost of Producing Output.
2 hours to complete
9 videos (Total 87 min)
2 hours to complete
Week 7 - Profit Maximization in Perfectly Competitive Markets
How Firms Maximize Profits in Perfectly Competitive Markets.
2 hours to complete
10 videos (Total 92 min)
2 hours to complete
Week 8 - Monopoly Power: Its Sources and How to Use It
The Sources and Uses of Monopoly Power.
2 hours to complete
10 videos (Total 95 min)
Reviews
- 5 stars78.64%
- 4 stars13.59%
- 3 stars3.88%
- 2 stars1.94%
- 1 star1.94%
TOP REVIEWS FROM THE POWER OF MARKETS II: MARKET STRUCTURE AND FIRM BEHAVIOR
by JTFeb 21, 2016
Excellent course. Well worth the effort Looking forward to Part III.
by SRJun 13, 2020
Great course, looking forward to take the next one on this topic.
by OSSep 10, 2018
A very good taste and exposing to the economical thinking
by RSFeb 25, 2018
This course is indeed a helpful one and has helped me to understand the Market Structure in a very eminent way.
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