4.7
stars
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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Shareable Certificate

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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.

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

19,404 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
78.18%
4 stars
14.54%
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 RBApr 18, 2017

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

by OSSep 10, 2018

A very good taste and exposing to the economical thinking

by SRJun 13, 2020

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

by JTFeb 21, 2016

Excellent course. Well worth the effort Looking forward to Part III.

View all reviews

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Is financial aid available?
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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