4.7
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110 ratings

Mark Zupan

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The Power of Markets II: Market Structure and Firm Behavior

University of Rochester

About this Course

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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.

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Coursera Labs

Includes hands on learning projects.

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Approx. 7 hours to complete

English

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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.

Coursera Labs

Includes hands on learning projects.

Learn more about Coursera Labs

Approx. 7 hours to complete

English

Could your company benefit from training employees on in-demand skills?

Try Coursera for Business

Instructor

Mark Zupan

Professor of Economics and Public Policy

Simon School of Business

19,365 Learners

3 Courses

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.

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Syllabus - What you will learn from this course

Week1

Week 1

1 hour to complete

Week 5 - Production

1 hour to complete

8 videos (Total 57 min)

Week2

Week 2

2 hours to complete

Week 6 - Cost Minimization

2 hours to complete

9 videos (Total 87 min)

9 videos

Marginal-Average Cost Relationships10mThe Golden Rule of Cost Minimization 11mApplying the Golden Rule of Cost Minimization14mLong Run Cost Curves13mThe Importance of Cost Curves to Market Structure and Efforts to Abate Pollution 8mPerfect Competition: Key Assumptions6mShort-run Profit Maximization 4mThe Competitive Firm’s Short-Run Supply Curve and the Shutdown Condition 12mOutput Response to Input Price Changes5m

1 practice exercise

Week 6 Quiz30m

Week3

Week 3

2 hours to complete

Week 7 - Profit Maximization in Perfectly Competitive Markets

2 hours to complete

10 videos (Total 92 min)

Week4

Week 4

2 hours to complete

Week 8 - Monopoly Power: Its Sources and How to Use It

2 hours to complete

10 videos (Total 95 min)

10 videos

Monopoly: An Introduction6mMonopoly and Profit Maximization 5mMonopoly Price and Its Relationship to Elasticity of Demand 8mFurther Implications of Monopoly Analysis 11mThe Measurement and Sources of Monopoly Power 5mThe Sources of Monopoly Power 11mThe Efficiency Effects of Monopoly8mPublic Policy Toward Monopoly 11mPrice Discrimination 12mThree Necessary Conditions for Price Discrimination 12m

1 practice exercise

Week 8 Quiz30m

Reviews

4.7

19 reviews

5 stars
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4 stars
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3 stars
3.63%
2 stars
1.81%
1 star
1.81%

TOP REVIEWS FROM THE POWER OF MARKETS II: MARKET STRUCTURE AND FIRM BEHAVIOR

by SRJun 13, 2020

Great course, looking forward to take the next one on this topic.

by JJJun 20, 2019

This course was great. I strongly recommend buying the recommended book, as it will help a lot.

by RBApr 18, 2017

The course that changes way of thinking. Thank you a lot for this.

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.

View all reviews

Frequently Asked Questions

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The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
What will I get if I purchase the Certificate?
When you purchase a Certificate you get access to all course materials, including graded assignments. Upon completing the course, your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.
Is financial aid available?
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.

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The Power of Markets II: Market Structure and Firm Behavior

The Power of Markets II: Market Structure and Firm Behavior

About this Course