May 22nd 2017

The Power of Markets II: Market Structure and Firm Behaviour (Coursera)

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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.


Week 1 - Production

Week 2 - Cost Minimisation

Week 3 - Profit Maximization in Perfectly Competitive Markets

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